A secure blockchain browsing platform backed by NFTs and ring signatures.
There is a huge need for privacy in the world today for reasons pertaining to everybody.
Everyday, thousands of people are arrested for protesting for various topics, including women’s education, sexual assault cases, government policies, and even environmental issues. More than 6,500 people have already been arrested in the Hong Kong anti-government movement, with some being as young as twelve. In the past, protesters have tried to move protests and campaigns online but found that no platform — even TOR, is secure enough for running these protests without being shut down.
For the average middle class citizen, cases of identity theft and fraud occur every 79 seconds. The amount of people who will face identity theft in their lifetime is only increasing, with accurate security measures falling short or not being improved fast enough. This also leaves a big need for more private and secure platforms within the field of finance.
As science advances day to day, we are now seeing entire genomes being sequenced and used for a variety of purposes. Genetic data is being used for the creation of new drugs, disease detection algorithms, and other research purposes which are essential, but without privacy causes a lot of concern. In the future, companies are likely going to buy and sell genetic information for individual purposes. Your genetic data’s confidentiality should be treated as a priority since it contains extremely sensitive information and you should be in control of who has access to it.
Our browsers store so much personal data about ourselves which is bought and sold to different companies. That’s why it’s entirely possible that an ad for something you just searched for or talked about continues to show up. But this data can also be used in more malicious ways, such as knowing who you are, where you live, and your credit card information just by getting into one online shopping account. Malicious activity of this type affects one in five people and that number is also on the rise, which is why privacy here is another option that should be accommodated for.
These are just a few modern day challenges that result from a lack of privacy and secure platforms online. This need for more privacy affects every single person’s life online, which is what Innominate addresses.
For most of the problems above, there are a few main solutions that have already been implemented. These, however, are still not completely secure and can often times be traced easily, which compromises privacy.
The first one is standard blockchain technology. Blockchain is one of the most secure technologies out there because every address and transaction is encrypted, as well as not tied to a personal ID. In addition, it is completely decentralized, which means it has no single point of failure or vulnerable place for an attack.
However, there are still some basic vulnerabilities with standard blockchain structures that still exist, such as if a single address is tied to a person, all of their previous transactions associated with that address are tied to them as well. This defeats the purpose of the decentralized system supplied by blockchain in the first place. The good news is, ring signatures combined with NFTs have the potential to completely eradicate this problem which will be discussed later on.
The second modern day solution for privacy is using browsers that mask your IP address or do not track your history. The most popular of this type is the TOR browser, mainly used for anonymity. However, TOR does not provide end to end encryption and offers less privacy than blockchain, since some nodes are government controlled. In addition, “exit nodes” or points of connection to requested websites can be sniffed and traced back to your IP. This makes TOR even less secure, especially for those not well educated on how onion routing works.
Even the more anonymous browsers such as Duck Duck Go do not offer as much privacy as expected. These browsers work really well for keeping advertisers away, but not at all for malicious activity or data sniffing. This means that privacy isn’t a main concern regardless of which browser is used.
Innominate offers privacy in a simplistic and effective way. The main features of Innominate — NFTs and ring signatures — make it one of the most secure platforms in the world.
NFTs, or Non Fungible Tokens, are a type of cryptocurrency in which the properties of individual tokens are unique. This means that tokens can be valued at different prices based off of different properties that they hold. A good analogy for this would be houses, as they have different sizes and different locations, but are still all called a house. This is the theory behind NFTs and why they can only be sold as individual units, never fractions or cents.
Ring signatures are a cryptographic method to secure the privacy of transactions on a blockchain. It works by mixing previous transactions from the blockchain with the current transaction in an effort to mask which address is sending what. The signature is composed of the signer (the transactor), and a number of non-signers. The non-signers function as decoys since they all form part of the input of the transaction.
From an outside observer’s perspective, it is impossible to tell which address is the real signer, and therefore, even if the address is tied to a personal ID, it is impossible to confirm that it really made a transaction. In addition, another protocol called RingCT makes it impossible to see the information within the transaction itself, securing the entire process with complete privacy.
Using these key features, Innominate is effectively able to supply millions of online users with privacy. Innominate NFT tokens are each minted with a unique code that acts as an access key for the Innominate platform. These can be bought and sold on any exchange for NFTs, such as OpenSea. Once bought, the token’s key can be used for entry.
Once in the Innominate web platform, data can be sent to the platform or to the address of other NFTs, just like an extension for your local browser. The entire process, from transactions with the NFT key to those on the platform is backed by ring signature technology for a completely anonymous and private online experience.
As a result, privacy is placed as a top priority, which means all data and users are protected. Pressing problems, such as violent protests, now have the flexibility of unconditional privacy and security with Innominate.