/biz/ - Business & Finance

To this guy >>22830713

DECO is not for bringing off chain data on chain, DECO is for cryptographically ensured private and truthful transfer of non-immutable (non-blockchain) ledgers or events (data) to applications running in a decentrilazed, zero trust environment. DECO allows a contract to be deployed running software that can: provide a cryptographic proof of the validity of off chain data, verified via the Chainlink network, to smart contracts running in an environment where the end user can know the protocol, the node operator, and the protocol developers don't have access to any information they don't need to. This is what ari Juels demonstration with Alice and Bob proving that Alice had more than $600 in her bank account to Bob, without revealing how much money she did have or her bank info, instantly, was meant to convey. DECO is software to provide trust-less access to time sensitive off chain data by high stake time sensitive on chain contracts without compromising security for the end user. It improves the bridge between legacy computing and new distributed computation.