Promise delivers onchain credit reputations, for the world, using digital signatures.
Private key security makes subscription payments, automated payments, and on chain reputations extremely fraught with risk.
We aim to enable a new type of automated transactions with delegated signing features using group and proxy re-signature technology.
Promise use of proxy re-signatures for signing authority delegation will enable new blockchain applications and wider adoption.
DApps can now have their own private keys so that automated and repeated payments can be delivered without the need to store private keys online.
The Promise Protocol solves the private key security problem by using a new encryption scheme that allows delegation of signing by proxy re-signature.
Promise also delivers delegation and authorization control so that transactions for re-signatures and payments will have authorization respected at the consensus level.
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Proxy res-signature cryptography for automated payments and subscriptions processing.
Zero knowledge proof and commitments deliver transactions that are required for global business.
Pruned transactions and high throughput makes scaling to millions of transactions easy via the Promise sidechains.
Automated signing transactions possible via cryptographic primitives means faster processing and less overhead than running VM for these transaction types.
Virtual machine for delivering complex automated payment contracts means that developers can write very complex automated payment logic.
Decentralized finance for those who don’t want to worry about private key safety and public key addresses from a blockchain that promises to just work
Managing private keys and handling payment flow via proxy is hard. Delegating payment execution to services that can handle payments in a trustless environment makes it easier to allow peers to pay on behalf of peers.
Proxy re-signatures allow for repeated payments to be delegated to a machine that may sign a scheduled transaction for a scheduled payment, without the need to reveal the original private key of the subscriber.
Credit is a measure of willingness and ability to repay. Proxy re-signatures lower the costs to re-paying promissory note and credit commitments by allowing more than one party to contribute to a repayment while building credit for the borrowing party.
Gifts and charitable giving benefit from proxy re-signatures when benefactors wish to maintain anonymity and to make payments either as the charity or an organization making payments on behalf of a charity.
Proxy Re-signatures allow for payment flow control so that only authorized members may prox re-sign a transaction. This is important for compliance and repayment control where payments are only acceptable if delivered by a particular public key.
Promise Solution: PayMyBills is a proxy re-signature application that signs your bill payment for you for the exact amount and with a proxy re-signature of the payment transaction that is valid for the payment of your invoice.
August 2019
March 2020 September 2020
September 2019
June 2020 December 2020
