🔭Project Technical Introduction

In this section, we will briefly introduce the work of each section of the LSP protocol. These introductions will help us better understand how the LSP protocol works.

How OmniVerify Chain works

OmniVerify Chain must establish its own distributed network operation mechanism to ensure that it can handle both functional calculations (called functional networks) and trust issues between nodes (called trust networks) for participating nodes. For example:

A Rollup requires a node network consisting of full nodes, light nodes, sequencer nodes, etc. These nodes can be regarded as mainly a trust network.

A data availability service (DA) needs to establish its own node network. The nodes run by the node operators must be able to provide services such as data storage, verification, and retrieval. This can be regarded as a functional network. At the same time, this node network also needs a security mechanism to ensure that the network can still operate normally when there are malicious nodes. This can be regarded as a trust network.

Therefore, in actual operation, OmniVerify Chain will not display overly complex interaction requests to users, and these pressures will be transferred to the interaction interface between the public chain and the protocol.

All users actually need to do are a few simple steps such as delegated verification, proof of purchase/sale of node slices, etc.

Since the security and functionality of the user-delegated nodes are guaranteed by OmniVerify Chain, strictly speaking, as long as the distributed network security management of OmniVerify Chain is friendly enough, its asset security is much better than storing it in the user's hot wallet.

Sharded management of node staking pools

When a large number of nodes from the same public chain network participate in the LSP protocol, or when a public chain network user interacts with the LSP protocol for the first time, a node staking pool dedicated to the network ecosystem will be opened to ensure that these sliced certificate assets come from the same public chain network.

After the node staking pool is established, the node network that joins later will enter this staking pool by default and carry out the required asset transactions or holding activities together with other staking certificates.

Operation and management of LSP protocol

The main structure of the LSP protocol is composed of the LSP trading platform and the OmniVerify Chain, where OmniVerify provides absolute security and data consistency guarantees for the underlying assets, and completes data verification and equity ownership via cloud nodes.

The LSP trading platform is a trading platform built on the basis of OmniVerify Chain. Its purpose is to facilitate users to use the protocol with a lower threshold to interact with different public chain assets and realize a wider range of asset liquidity supply.

Therefore, the operation architecture of the LSP protocol is as follows:

Homomorphic Encryption Technology

In the process of OmniVerify Chain's interactions with various public chain networks, node assets, and user wallets, the transmission and interaction of large amounts of data are particularly privacy-sensitive. This is especially crucial when developers use the LSP protocol's node staking pool to develop DAPPs on existing networks, as the computational data from these application interactions require enhanced security protection.

Homomorphic Encryption (FHE) technology allows specific algebraic operations to be performed on ciphertext, producing encrypted results that, when decrypted, match the results of performing the same operations on the plaintext.

Why not use the more popular ZK?

The primary difference between the two lies in that FHE enables cloud computation on encrypted data, thereby protecting sensitive information from third-party access. Zero-Knowledge Proofs (ZK), on the other hand, provide a succinct, verifiable proof to ensure the correctness of computations.

The strength of FHE is that it allows computations to be performed while the data remains encrypted, thereby preserving data privacy. Developers can write programs based on the assumption that they can operate on the entire system's encrypted state as if it were transparent, even though no one can actually view the system's current state. This represents a groundbreaking milestone in cryptography, fundamentally changing how on-chain privacy is handled and offering greater security and privacy for DeFi and other blockchain applications.