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ZeroHybrid is the industry’s first ARM-based decentralized trusted computing network that uses mobile devices to provide computing power with ARM chips to optimize blockchain technology.
The world is further tilting towards decentralization with the massive adoption of blockchain technology. The trustless system that decentralization fosters promote a world where there is no central authority in charge of people’s details, data, and crucial information.
Several controversies and accusations have been put forward to popular companies like Google and Facebook for tampering with privacy, all in the bid to promote their businesses. For example, if you searched a keyword like “dishwasher” on Instagram, then you would notice that you would begin to receive similar kitchen equipment ads; meaning that your data, which is meant to be private, has been made available by Facebook to its advertisers, and this could be gruesome.
Decentralization aims to solve this problem by creating an extended chain of networks across a wide range such that the network members do not know each other. Hence, data isn’t centralized with one person or a source; so, you can be assured that you have no reason to panic about your data being used without your permission. It also becomes near impossible to breach data because it would require the hacker to breach the majority of the network members simultaneously – which is almost impossible. Therefore, decentralization began and worked swiftly via the blockchain, solving privacy and data security problems. However, it isn’t all white and black; while the blockchain helped achieve decentralization, it has so far been far from perfect.
Some of the imperfections of the blockchain include
- Efficiency: In a bid to achieve security, the blockchain needs to confirm transactions over several networks; the more network blocks are in a blockchain, the better the security. Also, the more network blocks are in a blockchain, the longer the confirmation time.
Therefore, the blockchain solves the problem of security but exposes the problem of operational inefficiency because the blockchain network could require several minutes to confirm a transaction through several blocks. In contrast, centralized networks complete transactions in seconds after one confirmation.
- Pseudonymity: for the sake of transparency, the blockchain releases information about every transaction on the blockchain. For example, suppose I know a person’s wallet address (maybe from a previous transaction). In that case, I can see the entire transaction history of the person, and the anonymity vanishes. Therefore, the reality is that the blockchain only provides partial anonymity and that there is a substantial risk of losing your asset if you are exposed.
So, it becomes evident that blockchain technology is far from perfect and needs to be modified. Some people argue that it is impossible to achieve decentralization, efficiency, and security all at the same time, but that isn’t true.
So how do we get it better?
ZeroHybrid is the industry’s first ARM-based decentralized trusted computing network that uses mobile devices to provide computing power with ARM chips to optimize blockchain technology. This optimization aims to skyrocket the operational efficiency of blockchain tech while maintaining security. It also aims to give real anonymity online by making data available to only people who are required to see it and not the whole world.
The ZeroHybrid network aims to achieve this via the concept of trusted computing. Trusted computing is a concept that allows a collection of data to determine whether or not to give access to an operator or not. So, my entire data is on the blockchain, but only people who I have granted access can see my information. In the end, data isn’t available to any centralized body, it remains decentralized, but security becomes higher.
Trusted computing is a concept already used in modern-day technology. Most mobile phones have an ARM chip which increases privacy and security. For example, your phone can only be accessed if you unlock it with your fingerprint or if you give access to someone else to unlock it. Therefore, your data remains entirely open to whoever you choose; this eliminates the problem of Pseudonymity.
In the past, people have become targets of coordinated blockchain attacks due to a lack of data privacy. A little breach in the blockchain information could expose an individual to hackers, thieves, and criminals, who are looking for loopholes to exploit.
The ZeroHybrid network also aims to utilize the ARM technology to create a new network on the blockchain where trusted computing works better. Miners in cryptocurrency are enjoined with the task of auditing cryptocurrency transactions; in short, they run the network, and they help verify the authenticity of all transactions to help keep the blockchain trustless. There are millions of miners in the crypto world, and they audit crypto transactions using supercomputers, which consume a lot of energy.
The world is going nano, and even supercomputers are beginning to get outdated. With the ARM chip, mobile phones can mine, and everyone with a smartphone can contribute to a network as miners, helping the network consume energy and increasing the operational efficiency. Hence, ZeroHybrid aims to counter the privacy and efficiency issues with a single masterstroke, revolutionizing the blockchain by fostering efficiency and security in addition to decentralization.