Introducing EthSystems
EthSystems builds confidential systems for institutional Ethereum, carrying forward the IPTF work as an independent company focused on privacy, protocol design, and commercial execution.
Writeups
Field notes from EthSystems on building privacy on Ethereum for institutional use cases.
-
-
Exploring Hardened Shielded Pools
Extending a working shielded pool with epoch nullifiers and PIR, and why private selection is the harder problem left for private payments at scale.
-
Resilient Civic Participation
Petitions on Ethereum where the signer list never exists and the outcome stays verifiable from chain state alone.
-
Resilient Disbursement Rails
Aid payments on Ethereum that protect recipients even when local partners are compromised, or when recipients cash out into local currency.
-
Resilient Plural Identity
Designing identity on Ethereum that survives issuer failure: plural attestation sources, vOPRF sybil resistance, and an on-chain trust anchor that no single party can revoke.
-
DIY Validium: Private Logic on Public Rails
A validium PoC where the business logic is ordinary Rust, proved in zero knowledge and verified on Ethereum.
-
Private Crosschain Atomic Swaps (Part 2 of 2)
How a Trusted Execution Environment (TEE) can coordinate private crosschain atomic swaps today, what the real attack surfaces are, and why TEEs are a practical bridge to stronger cryptographic solutions.
-
Private Crosschain Atomic Swaps (Part 1 of 2)
How to build atomic delivery-versus-payment across two chains while hiding amounts, prices, and counterparty identities. Part 1 covers the protocol: shielded UTXO notes, stealth addresses, and the coordination problem.
-
Building Private Transfers on Ethereum with Plasma
Explore how ZK-plasma enables private stablecoin transfers on Ethereum. Covers off-chain execution, balance proofs, and deployment tradeoffs for institutions.
-
Building Private Transfers on Ethereum with Shielded Pools
A proof-of-concept for compliance-first private stablecoin transfers using a shielded pool on Ethereum L1: covering KYC-gated entry, UTXO commitments, dual-key architecture, and ZK circuits in Noir.
-
Building Private Bonds on Ethereum - Part 3
Exploring Fully Homomorphic Encryption as a path to confidential institutional bonds on Ethereum, the third approach in our Private Bond PoC series.
-
Building Private Bonds on Ethereum - Part 2
Part 2 of our private bonds series: we rebuild the same protocol on Aztec, where notes, nullifiers, and ZK proofs are handled by the network itself. 200 lines of Noir replace three separate components.
-
Public Rails vs Private Ledgers
An institutional decision framework for choosing between public blockchains with cryptographic privacy and private ledgers with trust-based privacy.
-
Building Private Bonds on Ethereum
A walkthrough of a proof-of-concept for private zero-coupon bonds using zero-knowledge proofs on Ethereum - covering the UTXO model, JoinSplit circuits, atomic swaps, and the relayer architecture.
-
Cypherpunk x Institutional Privacy
Exploring the overlap and tension between cypherpunks and institutions - and how the Institutional Privacy Task Force is mapping real institutional privacy requirements to solutions on Ethereum.