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Transparent Bridge

Description

A company that prefers to operate on a private network such as HyperLedger or R3, but still makes the final settlement on a public blockchain, is one that values the security and privacy of its transactions during the operational phase, but also desires the transparency and immutability of a public blockchain for the final settlement.

Such an application may be used in industries like financial services, or healthcare, where privacy and security are a concern but the final outcome needs to be transparent and immutable for regulatory purposes.

The private network provides a secure and controlled environment for the operational phase of the transactions, while the public blockchain provides the transparency and security required for the final settlement.

The application would need to be designed to facilitate the transfer of data and assets between the private and public networks, while ensuring security and privacy. The application should be secure and transparent, and should provide a platform for efficient and effective transparency check.

Acceptance criteria

  • Security: The solution should be designed with strong security measures in place to ensure the safety and privacy of the transactions during the operational phase on the private network, as well as during the final settlement on the public blockchain.

  • Privacy: The solution should ensure the privacy of the transactions during the operational phase on the private network, while still enabling the transparency and immutability of the final settlement on the public blockchain.

  • Interoperability: The solution should be designed to facilitate the transfer of data and assets between the private and public networks in a seamless and efficient manner.

  • Usability: The solution should be user-friendly, with a well-designed interface and easy-to-use functionalities.

  • Scalability: The solution should be able to handle a high volume of transactions and data transfers between the private and public networks.

  • Compliance: The solution should be compliant with the relevant regulatory requirements for the industries in which it will be used, such as financial services or healthcare.

Rewards

Resources

https://bnbchain.org/
https://bnbchain.org/