TEN Protocol: The Privacy Revolution of Ethereum Layer 2 Network

The blockchain industry is迎来新的创新浪潮. A group of core members from a renowned financial alliance, leveraging their top-notch frameworks and technical capabilities, fully embraces the理念 of decentralization and has launched a Ethereum Layer 2 Rollup protocol focused on complete data encryption—TEN Protocol. This protocol allows developers to flexibly choose which parts of the smart contract need to remain private or public.

Recently, the developer of TEN, Obscuro Labs, announced the completion of a $9 million funding round, with several well-known investment firms participating. TEN is currently in the testnet phase and is expected to launch its mainnet in October, with its native token planned for release in June.

Confidential Rollup: Addressing Multiple Pain Points of Ethereum L2

With the increasing demand for Ethereum's scalability and the successful completion of the Cancun upgrade, L2 has become the focus of the blockchain field this year. TEN uniquely enhances "cryptographic" capabilities while achieving scalability for Ethereum, and is committed to preventing the MEV (Maximum Extractable Value) issue.

TEN has innovatively proposed the concept of Confidential Rollup, a new type of Rollup inspired by Optimistic Rollup and ZK Rollup. By combining confidential computing technology with economic incentive mechanisms, TEN retains the performance and simple programming model of Optimistic Rollup while achieving confidentiality, shortening withdrawal periods, and addressing the MEV issue.

Confidential Rollup utilizes Secure Enclaves and the POBI (Proof of Block Inclusion) protocol. Secure Enclaves provide a secure execution environment for sensitive data, while POBI ensures the fair selection of Rollup winners and protects network security in extreme circumstances.

Compared to other L2 solutions, TEN performs excellently in multiple aspects:

1. Shorten withdrawal time
2. Achieve complete decentralization
3. Compatible with the Ethereum Virtual Machine (EVM)
4. Comprehensive encrypted L2, providing support for privacy needs.

Improve user privacy experience and enable diverse application scenarios

The technological innovations of TEN have brought significant improvements to users in the crypto world and opened up diverse application scenarios:

1. Ordinary retail investors: Avoid becoming the target of MEV hunters.
2. Enterprise users: meeting the strong demand for encrypted transaction details
3. Application: Achieving confidentiality capabilities similar to human agents

In the DeFi space, developers can finely control public and confidential content. For example, in lending protocols, it is possible to choose to disclose relevant information only when the liquidation level is affected, effectively realizing the on-chain version of dark pools and over-the-counter trading in traditional finance.

The gaming field has also gained new possibilities thanks to TEN technology. Games that rely on player behavior and location secrecy, such as "Civilization," "StarCraft," and other "fog of war" type games can now be implemented on the blockchain. This opens up new business models for game developers from "play-to-earn" to "pay-to-play."

In addition, TEN can improve the privacy of the naming system. By using confidential smart contracts on TEN, the created aliases cannot be directly linked to the underlying addresses, thereby protecting user anonymity at the L1 level.

Similar privacy-enabled application scenarios also include auctions, gambling, commercial agreements, etc. TEN provides strong technical support for various scenarios that require privacy protection.

Senior Team Lineup

The TEN team's focus on privacy and deep understanding of market demand stems from their rich experience in the fintech field. Most team members have years of experience in the blockchain industry and have participated in the development of several important blockchain projects.

The core team members include:

• Gavin Thomas: Previously led the development of a well-known blockchain system.
• Tudor Malene: With a military encryption background, he entered the blockchain field in 2011.
• Cais Manai: Previously responsible for payment and digital asset projects at a large financial institution.
• James Carlyle: held senior technical positions at multiple well-known financial institutions.

As Gavin Thomas, co-founder and CEO of Obscuro Labs, stated: "Layer 2 is not just about scaling, but enhancing Ethereum's capabilities with new features. With TEN, we will deliver on this promise. We have learned a lot from building cryptographic systems, and these experiences will be applied to Ethereum."

TEN tokens will be used to incentivize node operations, pay operating costs, serve as a governance token with voting rights, and in the future, will also be used for donations and incentives for ecosystem development.

With the ongoing testing of the testnet and the imminent launch of the mainnet, TEN is working hard to position itself as a leading Layer 2 solution in Web3.