I’m concerned that for all that this protocol tries to do, it doesn’t satisfactorally address free-option on transaction reveal (@Julian brought this up on the parent-post to this article). Individual applications may be able to condition on who the decryptor is, but this runs into composability issues very fast – if i want to do a multi-leg trade across N independent DeFi protocols with their own encryption gating, am I goosed? Or do i need to submit an out-of-protocol super-bundle of N individual transactions?
Two avenues that address this
- DecryptBots/DecrypBoost emerges, and all apps chose DecryptBots as their decryptor. But then we are running all encrypted flow through a single out-of-protocol service.
- We enshrine a committee and attach decryption of any include STs to consensus. We can probably save on a lot of the complexity you introduce with per-tx decryption keys this way. OFC, we’d be enshrining an encryption system. However, given the momentum around threshold enc/dec and its protocol benefits, this seems like an acceptable thing to take a swing on. More concretely, there must be some scheme(s) that is(are) good enough to use – otherwise, I suspect the listed contributors wouldn’t have spent collective time on it. Can you give some clarity on the enshrinement tradeoffs?