HOPR Reduces Security Risks from Decentralized Metadata

Entering the era of big data on the Internet, users are facing the problem of data privacy protection while enjoying the convenience brought by digitalization

Imagine that in your daily life, from the moment you wake up in the morning to the time you go to bed at night, everything you do has been permanently recorded in the form of data files and data archives are created. Then this file containing a series of personal information such as basic information, pictures, text, location, etc. may be exposed to the whole big data network and always face the risk of data leakage and hacker attack.

When digitalization penetrates every corner of life, the line between public space and private space is increasingly blurred, does the ubiquitous data information provide people with convenience, or sacrifice the original personal privacy rights?

Protecting Data Privacy is Urgent
Data breaches are a common occurrence: in 2016, a cyber attack on Uber resulted in a breach of user data, including full names, email addresses and phone numbers.

In 2018, Facebook’s “Datagate” was exposed, and in the same year, a suspected leak of user data from a hotel chain owned by China Housing Group was sold in a package of about 500 million pieces of data.

In this environment of data breaches, the topic of privacy protection is on the agenda, and in 2018 the European Union’s General Data Protection Regulation (GDPR) came into force, enacting a series of regulations that organizations need to comply with to protect user privacy.

Representative laws and regulations such as the California Consumer Privacy Act (CCPA) in California, the Data Security Law (draft) and the Personal Information Protection Law (draft) in China have been introduced to strictly require good privacy protection in the process of data use, such as not allowing data to leave the local area, not allowing unauthorized use of personal data, etc.

Although privacy issues in a broad sense have indeed received a certain degree of market attention, personal “metadata”, which is outside the current legal regulatory framework, still cannot be fully protected.

Web 3.0 Metadata Privacy Era
In the new Web 3.0 digital era, metadata protection needs to be taken seriously because metadata is one of the key and fundamental aspects of decentralized financial transactions.

Metadata is a set of data generated by actions performed in the Internet, such as visiting a website, using an application, or sending a message.

Metadata records information such as who sent the data (in the form of an IP address), where they were sent (another IP), at what time, and how much data was sent. In short, it’s “data about data.

While metadata itself doesn’t carry much information, users generate dozens of pieces of metadata with every online interaction, and almost all of that data is public or easy to track. If someone collects enough metadata, even with end-to-end network encryption, it can be stitched together to get a clear picture of a user’s activity habits and scope.

As the figure below shows, just because you can’t see the inside of a package doesn’t mean you can’t know exactly what’s in it.

HOPR Reduces Security Risks from Decentralized Metadata

Source: Medium

If you think of the transfer of metadata as mailing a letter, the contents are sealed in an envelope, but to reach the destination it needs to be clearly addressed on the envelope, which means that anyone can read this address information and note where the envelope went, the size of the envelope, and when it was sent.

Over time, a database of the above information can be built up and tracked in this way, all without even opening the envelope.

Further, if it is possible to see which stores a user is shopping at, which applications they are using, and who they are sending messages to, there is virtually no need to know the full details of a user’s message content or purchases to infer more personal information.

Metadata in public connections is so ingrained in the way things work in the Web 3.0 era that there is no easy solution to protect it, and the only way to protect it is with a completely new approach to data transfer, and that’s what HOPR is doing.

What is HOPR?
HOPR is a protocol that allows users to run peer-to-peer privacy network nodes that can send data over the network without exposing metadata. Metadata can be described as who sent and received the data, when the data was sent, how much data was sent, the address where the data was sent, etc. HOPR can guarantee the privacy of the sender’s and receiver’s identity while keeping the content of the message encrypted.

HOPR provides a way for people, companies, and devices to exchange information online in complete privacy, and users who use HOPR or applications and services running on the HOPR platform to communicate and transact are protected by the privacy that no one has access to the data users are sharing, who is sending or receiving it, or even how much data is being sent. Privacy information.

HOPR, on the other hand, is a fully decentralized protocol that is highly transparent and trustworthy and does not have to rely on third parties, which means that data is not locked into a service and control of the data is held.

HOPR is run by users and serves users. Anyone can help maintain an HOPR network by relaying data through HOPR nodes, either on a computer or as a standalone device plugged into a router.

HOPR provides good incentives, which means that each running node and token holder will receive HOPR tokens in return

HOPR Reduces Security Risks from Decentralized Metadata

Source: Medium

HOPR’s two main technical architectures
HOPR provides privacy by forwarding messages through different relay nodes connected to the network. These messages use the Sphinx package format to avoid leaking any data about their content, the sender or the recipient.

In terms of technical architecture, HOPR is divided into a messaging layer for message and node encryption and a payment layer and a network layer for node rewards.

Messaging Layer

The messaging layer handles the transmission of data throughout the HOPR network, where packets are “active” through the network and mixed at each messaging stage, and HOPR’s proof-of-relay mechanism ensures that data reaches its destination without anyone else knowing the identity of the sender and receiver or the full path through which the data traveled.

Messages transmitted using HOPR are embedded in the SPHINX packet format, which provably hides the relationship between the sender and receiver. These messages are transmitted through a network layer created by peer-to-peer connections between HOPR nodes. At the bottom layer, intermediate nodes that allow HOPR nodes to become relays and receive HOPR tokens.

HOPR Reduces Security Risks from Decentralized Metadata

Source: HOPR official information

Payment Layer

Users who pass data through running nodes will be rewarded with HOPR tokens, which is what the payment layer handles. In order to process transactions, HOPR node operators need to pledge assets and will have the opportunity to receive tickets for HOPR tokens upon successful data relay, which can be settled when the payment channel is closed and used within the network as a means of payment for services requested from other HOPR nodes.

The two-layer design of the payment and messaging layers is designed to ensure that payments are not linked to individual messages, as this is a common way for metadata to leak through the blockchain. By distinguishing between the messaging layer and the payment layer, it is possible for HOPR to provide privacy without having to act as a privacy token.

HOPR Reduces Security Risks from Decentralized Metadata

Source: HOPR official information

Funding Background: Backing from Binance Incubator
In July 2020, Binance Labs announced that it had led a $1 million seed round of funding for HOPR, a privacy and data protection platform, with the participation of Focus Labs, Spark Digital Capital and Caballeros Capital.

This was Binance Labs’ first investment in 2020 at the time, and the second time Cryptocurrency has backed the HOPR project, following the announcement in April 2019 that the Cryptocurrency Incubator had provided a total of $45,000 in funding to three blockchain startups, including HOPR, which also became selected for the These three projects also became the first members selected for the “Binance Labs Fellowship” program.

Team Background
HOPR’s traditional association as a recognized legal entity in Swiss jurisdictions combined with the purpose of a Decentralized Autonomous Organization (DAO) has resulted in Decentralized Community Supported Governance (DecenGov). hOPR is based in Zurich, Switzerland.

HOPR co-founder Dr. SebastianBürgel, who drafted the DLT (Distributed Ledger Technology) law in Switzerland, leads a diverse HOPR team that includes award-winning blockchain hackers and veteran Silicon Valley technicians.

Sebastian majored in bioelectronics for his PhD and graduated from ETH Zurich, Switzerland with a solid scientific background; he has a strong presence in Sebastian, Switzerland, where he was the CTO of Validity Labs.

Robert Kiel, another founder of HOPR, is a distributed application developer at Validity Labs AG and received his master’s degree from the University of IT Security Technology in Darmstadt, Germany.

Other members of the HOPR team have in-depth knowledge of blockchain, smart contracts, and other distributed technologies.

HOPR Reduces Security Risks from Decentralized Metadata

Actively exploring different public chain ecosystems such as Ether and Polka

HOPR is actively exploring scalable networks other than the main Ethernet network. HOPR has received Grant support from the Web 3 Foundation in 2019 and built the payment layer of HOPR modeled after Substrate in the Poca ecosystem, which attracted widespread attention from the Poca ecosystem community for a while.

In addition, HOPR plans to run test networks on sidechains such as Matic, Binance Smart Chain and Ropsten.

In September 2020, HOPR announced the release of a public incentive test network “Säntis” for its hybrid network on the ethereum sidechain xDai, and a new token xHOPR in that test network. xHOPR is not the final token of HOPR, and will only be used for the test network without any value, but will have participation rewards, HOPR emphasized.

HOPR plans to support the developer community with APIs, SDKs, developer documentation and tools, and will also go live with the first applications that are useful for non-developers.

Token Economic Model
HOPR tokens are HOPR with a total supply of 1 billion tokens distributed as follows

l Public offering: 8.50%

l Pledged node bonus: 25%

l Project Reward: 6%

l Project Fund: 25%

Early stage investors: 16.5%

l Team and Advisors: 18.5%

l Hopr Network Governance Vault: 25.5%

HOPR Reduces Security Risks from Decentralized Metadata

Source: HOPR official information

Upon project launch, the actual HOPR supply will be 130 million tokens, with many token allocation categories to be released gradually over four years.

Applications for HOPR tokens primarily cover the functions of paying transaction fees, pledging tokens to run nodes, and governing voting.

Users can use HOPR tokens to make payments to send data privately and securely through the HOPR network. Node operators can pledge HOPR tokens in nodes to receive rewards for transmitting data. In addition, HOPR tokens will give community members the right to vote in the HOPR DAO, which will be launched at the end of 2021.

HOPR Reduces Security Risks from Decentralized Metadata

Source: HOPR official information

According to the announcement of the top AscendEX exchange, AscendEX will go live with the privacy and data protection platform HOPR token HOPR at 21:00 BST on July 1, and open HOPR/USDT, with withdrawals now open. After the launch of AscendEX exchange, the liquidity of HOPR will be further enhanced and the ecology will be benefited at the same time.

Summary

Now that DeFi has become an integral and vital part of the crypto system, finance, data and decentralized networks need a new privacy foundation. HOPR is working to build a Layer0 privacy infrastructure for Web 3.0 to enable the secure and reliable transmission of information, ensuring that everyone is in control of their privacy, data and identity at all times.

Billions of gigabytes of data are currently being sent every hour, and that number is only going to grow. In the medium to long term, as metadata privacy becomes increasingly important, the market demand for HOPR’s technology will also increase.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/hopr-reduces-security-risks-from-decentralized-metadata/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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