Iconoclast DAO
{"type": "project", "title": "Iconoclast DAO", "logoImg": "bafkreihxntgroljlhizcirlllumpwonyqr3alb7tdumauvr2g7cevkelgm", "website": "https://github.com/Iconoclastdao", "bannerImg": "bafkreic4ed6jygvq5v6a54ta7ncnm5glngu2qvnujosysodxd7kjlsleii", "createdAt": 1739577459996, "userGithub": "iconoclast", "credentials": {}, "description": "Currently, ICONOCLAST is in an advanced prototype phase, demonstrating a decentralized setup that securely processes off-chain computations using fully homomorphic encryption with verifiable settlements on both Ethereum and Bitcoin via Merkle tree commitments. This innovative protocol minimizes on-chain costs while ensuring data confidentiality and integrity, and it supports a range of use cases—including decentralized finance, cross-chain interoperability, confidential smart contracts, and scalable data marketplaces. Additionally, we have more innovative solutions in the pipeline to further enhance and expand its capabilities. We believe ICONOCLAST uniquely bridges the efficiency of traditional systems with the trustless nature of blockchain, and we're actively seeking support, partnerships, and investment to help grow this groundbreaking protocol.\n\nAbstract\nICONOCLAST introduces a Web2-based execution layer where computations occur off-chain while maintaining provable integrity on Bitcoin and Ethereum. The system enables scalable, trustless execution of any programming language, integrating Fully Homomorphic Encryption (FHE) for confidentiality and Merkle Trees for state commitments. This design minimizes on-chain data costs while ensuring verification and settlement integrity.\n\nIntroduction\nTraditional blockchain-based computation is costly and limited in efficiency. ICONOCLAST aims to decouple execution from settlement by leveraging off-chain processing and cryptographic commitments on Bitcoin and Ethereum. This hybrid approach offers:\n\nUniversal computation support: Works with Python, Rust, JavaScript, etc.\nScalability: Off-chain execution reduces blockchain congestion.\nPrivacy: Uses FHE to secure sensitive data.\nIntegrity: Verifiable settlements via Merkle Trees.\nInteroperability: Supports integration with DeFi & smart contract ecosystems.\nSystem Architecture\n1. Off-Chain Execution Layer\nExecution Module: Runs computations off-chain using Web2 infrastructure.\nFully Homomorphic Encryption (FHE): Encrypts data while allowing computations on encrypted values.\nMerkle Tree Aggregation: Transactions are batched and hashed into a Merkle Root.\nSettlement Triggers: Periodically commits Merkle Roots to Bitcoin/Ethereum.\n2. On-Chain Settlement Layer\nEthereum Smart Contracts:\nStores encrypted transactions on-chain.\nValidates state transitions via cryptographic proofs.\nSupports governance-controlled settlement mechanisms.\nBitcoin Commitment Transactions:\nEncodes Merkle Roots via OP_RETURN.\nProvides immutable settlement with minimal data storage.\nImplementation Details\nCode Architecture Overview\nThe prototype consists of several key modules:\n\nExecution Layer (Node.js): Handles transaction processing, encryption, and Merkle tree generation.\nSettlement Manager: Commits encrypted Merkle roots to Bitcoin and Ethereum.\nFHE Integration: Uses TFHE-rs for confidential computations.\nSmart Contracts (Solidity): Manages encrypted transaction storage and verification.\nAPI Endpoints\nPOST /api/transactions: Submits an encrypted transaction.\nPOST /api/settle: Triggers settlement for the current batch.\nGET /api/decrypted-transactions: Retrieves decrypted transactions.\nSmart Contract Functions\nstoreEncryptedTransaction(bytes32 txHash, bytes encryptedAmount, address recipient): Stores encrypted transactions on Ethereum.\nverifyEncryptedTransaction(bytes32 txHash, bytes proof): Verifies transactions using cryptographic proofs.\ncommitMerkleRoot(bytes32 root): Records Merkle roots for settlement.\nTechnical Benchmarking\nGas Cost Analysis: Optimized Merkle commitments reduce transaction fees.\nPerformance: Off-chain execution minimizes blockchain congestion.\nSecurity: Combines FHE encryption with decentralized verification.\nUse Cases\nDeFi Settlement Layer: Ensures fair execution for decentralized derivatives, lending protocols, etc.\nCross-Chain Interoperability: Acts as a bridge for multi-chain execution validation.\nConfidential Smart Contracts: Enables private transactions for DAOs & enterprises.\nScalable Data Marketplaces: Facilitates trustless computation and verification of off-chain data.\nConclusion\nICONOCLAST provides a scalable, secure, and privacy-preserving execution model leveraging Web2 computation while ensuring blockchain-grade integrity via Bitcoin and Ethereum settlements. This hybrid approach offers a cost-efficient alternative to on-chain computation-heavy applications.\n\n", "logoImgData": {}, "bannerImgData": {}}