OGO Coin 101
©Image by Origon
OGO Coin 101

By circuitops | The Crypto News | 4 weeks ago


OGO Coin also called as Origon cryptocurrency created by Origo Network. Basically, their main goal is to create a platform (s) to preserve the privacy for decentralizing applications.

Origin Network tranced and studied the smart contract (not private transaction) transactions under ethereum network - where they notice that the credibility of transaction is not secure. Everything you do in ethereum is publicly available to the whole network.

The following are the exposed data and information that the Origin network discover:

  • All of your money transactions such as the sender-receiver-amount information are exposed.
  • Contract code - a computer code managed by blockchain is publicly available.
  • Your input data is also exposed publicly
  • The contract execution until finish is also exposed.
  • And all your earning is also exposed.

[Note: Contracts can be your medical records, your money to crypto exchange, remittance, school records, voting, all information that are sensitive]

 

With this much exposure. Origon proposed implements a double advanced zero-knowledge proof system for the contract to correctly execute without leaking the information.

Under this system, there is what they called three (3) major phases of Origo protocol:

  1. Commit - hides the contract by using the hash algorithm and verifies if the coin is valid or invalid.
  2. Execute/Compute -  execute the contracts off-chain until its finish then submit the result to Zero-knowledge Proof to blockchain
  3. Settle - distribute token/coin to receiving parties.

 

There are many things to discuss here, but it's too deep understand. The one point in pointing here is Origon aims to secure smart contracts.


circuitops
circuitops

I'm a Crypto Bag Hodler, Programmer, Meme Troller, and an IT/CompSci Educator. ALL proceeds in this platform will be used to construct a VOCATIONAL SCHOOL in Vietnam or Philippines.


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