Chainlink Privacy Standard

Blockchain transactions, particularly those involving regulated institutions and assets or requiring the use of sensitive data, need a way to maintain privacy over different aspects of the transaction. Without privacy, many forms of blockchain transactions simply cannot take place, whether due to regulatory or consumer constraints.

The Chainlink privacy standard utilizes privacy oracles to conceal sensitive data and provide confidential computing via CRE. It also includes multiple other Chainlink services, including DECO, Blockchain Privacy Manager, and CCIP Private Transactions. Through the Chainlink privacy standard and services, institutions can integrate public and private chains with legacy systems without exposing sensitive data onchain and incorporate privacy into key parts of a transaction, such as:

• Privacy of data entering and leaving blockchains: The Blockchain Privacy Manager enables institutions to integrate the public Chainlink Platform and their existing systems with private blockchain networks while limiting onchain data exposure.
• Privacy of cross-chain transactions: CCIP Private Transactions leverages the Blockchain Privacy Manager and a novel onchain encryption/decryption protocol to enable institutions to transact across multiple private blockchains using the public CCIP network while keeping the transaction details confidential.
• Privacy of offchain data shared onchain: DECO enables statements about offchain data to be shared onchain without revealing the underlying data.
• Privacy of transaction computations: Chainlink can provide private and confidential computing for transactions while also ensuring cryptographic verifiability of how it was done, making use of threshold encryption and trusted execution environments (TEEs).