ADN is one of the most promising blockchain ecosystems being brought to market. Introduced as an “Investor-Friendly Cryptocurrency,” ADN can provide a feasible solution to eliminate all of the issues and problems that have been haunting initial coin offerings [ICOs] since cryptocurrencies went mainstream.
Despite the announcements and updates, there are many things that we still do not yet know about ADN. Many users are aware that ADN is a unique blockchain that has a built-in ICO wallet and complimentary e-commerce ecosystem, but most remain clueless about its platform, from technology perspective.
To get a better sense of this revolutionary project, we sat down with Tad Einstein, one of the core developers of ADN’s Mainnet. He is the Chief Information Officer of ADN, and he is an esteemed colleague of Misha Hanin at DeepDive Technology, where Misha is the CEO.
In a nutshell, what is ADN?
“ADN is the first of its kind, purpose-built Initial Coin Offering platform and cryptocurrency designed to re-instill investor confidence in the ICO process by providing a secure investment and transaction platform.”
What previously-existing technical aspects will be integrated to ADN?
“Being that, ADN is a comprehensive Initial Coin Offering and e-commerce transaction ecosystem, the technical components of the platform consist of a main network which supports smart contracts and advanced business logic, the ADN cryptocurrency which encapsulates all underlying ICO assets into a robust, secure, and flexible unit of trade, and an ICO Wallet which incorporates secure identity and access management features to ensure funds cannot be accessed by ICO-holding companies except those draws that are approved by the ICO participants.”
How is ADN similar to other platforms?
“Knowing the uniqueness of ADN’s technology behind the scenes, I would say that ADN is not similar to any other platform on the market. ADN has been designed to introduce new standards and levels of excellence surrounding the Initial Coin Offering process and marketplace. The capabilities that we are bringing to market are driven based on need and will revolutionize the ICO process and interactions between investors and project creators.”
How then is ADN different from the others?
“This is an easy one since ADN is a new ecosystem built entirely from the ground up to introduce a better way to fund, run, and transact with blockchain technologies. ADN’s platform introduces a new degree of trust and transparency to blockchain-based projects.”
Your family name is quite famous. Are you, by any chance, related to Mr. Albert Einstein?
“Yes, I am a direct descendant of Albert Einstein. Although I had no choice in the process (laughs), I feel very honored to be able to carry my family name and help advance Technology within my areas of expertise.”
ADN is receiving a warm welcome in the cryptocurrency world, and its coin is beginning to be listed on different crypto exchanges, with BitForex being the first. Users will be able to deposit ADN Coin through the platform starting on June 9 at 4:00 p.m. [GMT +8], while it will be made available to pair with Bitcoin on June 10 at 4:00 p.m. (GMT +8).
In celebration of this listing, BitForex is currently holding a trading event wherein top 100 ADN traders will share a pool of 10 million ADN Coin and $10,000 as rewards. A total of 1 million ADN Coin will also be distributed evenly to all participants who will be able to trade at least 50,000 ADN Coin during the event period.
The event runs from June 10 at 5:00 p.m [GMT +8] until June 24 5:00 p.m [GMT +8]. For more information on this event, please visit the BitForex website.
Also a few days ago, esteemed cryptocurrency news outlets like CoinTelegraph and CCN published ADN’s official press release, wherein the platform made pledges to empower developers to create and implement cutting-edge tokenized projects through its mainnet, which is what Mr. Einstein is developing, together with CEO Ron Lim, Co-CEO Jon Ban, CTO Misha Hanin, to name a few. Dubbed a “Powerful ICO Security Platform,” ADN will be the first of its kind to launch an investor-oriented mechanism programmed to safeguard the interests of the investors when they invest in ICOs and other crypto projects based on its platform.
Balancing Cypherpunk Principles and UX With Multi-Party Computation
One of the fascinating, and frustrating, aspects of the broader cryptocurrency space is the prevalence of trusted third-parties in an ecosystem built on the notion that trusted third parties are security holes. From honeypot exchanges to custodial services with “bank-level encryption,” much of the crypto ecosystem is non-representative of its origins.
Without diving into the adverse outcomes of these third-parties in the ecosystem, of which there are many, one of the underlying frictions of centralized security is the inherent trade-off between security and user experience [UX].
The crypto landscape is esoteric enough as it is, let alone requiring users to manage their own keys and understand concepts like GAS on Ethereum. In fact, new user onboarding was named as the biggest obstacle to dapp development by projects on Ethereum. While there have been strides made in UX among many crypto products, ranging from DeFi tools to wallet interfaces, there is much work to be done.
The daunting task of converging security and UX into a safe and user-friendly experience has received a glimmer of hope in recent months, however, due to a unique subfield of cryptography–secure multi-party computation [sMPC].
A Wave of sMPC Innovation
The core concept of sMPC is to collectively derive a unique computation from a subset of individual fragments like non-trusting computers. Imagine a puzzle with individual entities, each holding a piece, and the final image only materializing after a specific threshold of pieces have been put together.
MPC has been lauded as the next fuel for innovation in onboarding users to crypto by reducing a significant portion of the barrier to entry — mainly key management.
“Ultimately, using sMPC, we can realize the separation in data of the right to use and the right of use, and directly calculate results on multi-source and heterogeneous ciphertext data,” detailed ArpaChain CEO, Felix Xu, in a ChainNode AMA. ArpaChain has emerged as one of the leaders in sMPC globally, and already has a functioning product on its testnet.
Their insights and innovation into sMPC represent a broader initiative to reconcile the issues of security vs. UX.
At a high level, sMPC empowers users to compute something over a large set of data without revealing their individual inputs, furnishing enhanced privacy, and a means to produce a specific outcome. Consequently, sMPC affords advantages over two existing modes of key management: multi-sig and hardware storage.
Hardware wallets and multi-sig are both complicated to use for mainstream users. Hardware storage is offline, and connecting it to online sources breeds security challenges. Conversely, multi-sig works to an extent, but services like Casa are out of the price range of most consumers and also out of their technical peripherals.
Hot wallets [i.e., online wallets] continually demonstrate their proclivity for being hacked, and while they offer the best UX, they are major security vulnerabilities — once again highlighting the quandary of balancing security and UX.
With sMPC, security is bolstered by the fact that no single entity controls the key, and UX is improved because there can even be “keyless” services using sMPC. The perfect crypto wallet does not exist, but sMPC may come to redefine that narrative.
Outside of wallets, the market for sMPC solutions for enterprises is enormous, and an area where ArpaChain is looking to make an impact.
“The ARPA project aims to provide businesses and individuals with private computing power and secure data flow solutions,” says Xu. “The entry point of ARPA is enterprise-level privacy data sharing.”
ArpaChain to The Rescue
Requiring developers to consistently worry about security vulnerabilities takes away from their ability to focus on improving UX and other aspects of blockchain-based applications. Similarly, continually encrypting and decrypting data creates high technical barriers, something which sMPC diminishes.
But some of the real magic also derives from the ability of sMPC to remain secure even in a hostile environment.
“We have implemented an agreement to support the participation of any party, and as long as there is an honest node in it, it can ensure the security of the data. Either of these two points is a breakthrough, and as far as we know, the vast majority of projects can only support the involvement of two parties.”
This is a powerful feature. No longer do parties need to independently hold keys that serve as singular attack vectors. With such security assurances on the back-end, a better UX can be transferred to the front-end — such as “keyless” wallets — which are already happening.
Providing users with an experience that does not require key management is a compelling step forward for the industry. Add in the ability of exchanges and other financial entities to securely, and privately, compute functions over large shared data sets [i.e., blockchains], and sMPC just might live up to its impressive reputation.
“Imagine multi-party joint credit information, data leasing, secure data analysis, and other scenarios in the financial industry such as multi-source data joint risk control in the insurance industry with sMPC. In the future, applications will exist for corporate finance, marketing, medical applications, and even artificial intelligence.”
ArpaChain achieves this dynamic balance using an off-chain, layer two structure — making ARPA compatible with any public blockchain.
“The ARPA secure computing network can be used as a second layer to provide privacy computing capabilities for any public blockchain, enabling developers to build efficient, secure computing networks on ARPA computing networks, while also protecting the data privacy of business applications. Enterprise and personal data can be safely analyzed or utilized on ARPA computing networks without worrying about exposing data to any third party.”
A confluence of security, privacy, and better UX — a compelling proposition.
Overall, sMPC effectively removes the requirement of trusted third parties for security [i.e., custody], the cold/hardware storage solutions preferred by exchanges, and affords a better UX by removing significant points of friction altogether like key management.
What’s the cherry on top? Better privacy.
For enterprises, mainstream users, and the broader trajectory of crypto adoption alike, that’s a potent recipe for success.