IDO Follow Up Integritee
In the short time since Integritee’s IDO launch on KSM Starter, their team has been hard at work, pumping out development after development. Below, is a list of some of their major accomplishments as well a peek into what the short term future holds for Integritee.
Integritee Launches its First Web3 Oracle
Last week, the first practical deployment on the Integritee network was launched: the TEER exchange rate oracle, which demonstrates two of the many advantages of combining trusted execution environments (TEEs) with blockchain.
- Integritee Provides Non-Repudiation
In computing, if you connect to a service over an SSL/TLS connection, it provides you with a number of assurances. Firstly, if the SSL server has been authenticated, you know you are connecting to the right entity. Secondly, when the connection is encrypted, you can also be confident that the data will not be intercepted by a third party or modified before it reaches you.
However, while SSL can provide privacy and data integrity as discussed above, it cannot provide non-repudiation, which ensures that the sender of information cannot send data to a recipient and later deny that it was sent. In a legal and transactionary context this is of fundamental importance.
By leveraging the advantages of both TEEs and blockchain, Integritee solves this problem. A HTTPS client running in a TEE communicates with an authenticated SSL server via a TLS connection. In the case of the oracle, it will communicate with the REST API of market data providers (such as CoinGecko and Coinmarketcap) to find out the relevant exchange rate. This information is then written to an immutable (and therefore unalterable) Integritee chain. In effect, this will provide a verifiable non-repudiation of market data for users, without them needing to trust the oracle operator.
2. The foundation for Stable Fees
In addition to demonstrating some of the technical benefits of Integritee, the exchange rate oracle will also serve a practical purpose. To ensure that enterprise clients have predictable costs, Integritee fees will be adjusted to a stable rate denominated in dollars. The oracle will be used as the basis to calculate these fees.
The Importance of The Exchange Rate Oracle
The exchange rate oracle demonstrates the potential of Integritee to serve as an invaluable bridge between blockchain ecosystems and third-party data providers. But this is just the beginning. From supply chain transactions, to health, smart manufacturing and a range of other industries — any time Web3 services need to be connected to external data sources, Integritee provides a solution.
The Launch of the Ambassador Program
If the intersection of privacy and decentralization excites you, listen up! The Integritee Ambassador Program celebrates their most engaged and active community members and rewards them for their contributions with TEER tokens.
Contributions can come in many different forms — pretty much anything that enriches the Integritee ecosystem and community. Whether you are a great networker and know other blockchain projects that the team could collaborate with, or have a talent for communication and can explain the underlying tech and concepts using infographics, videos or articles, Integritee is open to all contributions in the following areas:
- Business Developers — organizing collaborations with other projects and teams. Developing Integritee by creating new ecosystem integrations.
- Community Developers — inviting new members, supporting the community by responding to questions and posting information.
- Content Developers — creating articles, videos, explainers, or infographics.
- Tech Developers — building features on top of Integritee that are open-source and for the common good.
- Education and Tech Docs — creating technical documentation and explaining complex concepts with simple and accessible language.
- Your Vision — Did we forget something? Pitch us your idea about how to develop Integritee. They are open to new and creative ideas!
To apply to join the ambassador program, fill out the form here. If you are accepted and complete an induction period, you will be eligible for TEER token rewards. Remember that there will only be 10 million TEER tokens in total in circulation across the entire Integritee ecosystem.
What Comes Next
Leading up to parachain auction, Integritee is turbo boosting their campaign with extra TEER rewards
They are doubling the basic rewards for their Kusama supporters! For every 1 KSM bonded to Integritee’s nomination, you will receive not 10, but 20 TEER! Of course this offer also applies to those who have already bonded their tokens — but it only lasts until they hit 20,000KSM, so don’t delay.
See all the details of our crowdloan campaign and how to participate here.
About Integritee
In development since 2018, Integritee AG’s solution enables sensitive business or personal data to be securely handled in an interoperable blockchain ecosystem. Using a hybrid of blockchain technology and hardware-enabled trusted execution environments, it enables businesses to securely process sensitive data, aiding compliance with privacy laws like GDPR. Learn more about the technology at Integritee.network.
About KSM Starter
KSM Starter, the primary launchpad on Kusama, is built to provide early-stage support and public funding for projects building on Substrate. KSM Starter’s incubator modeled launchpad is driven by the community and shared values of fairness, transparency, and decentralized organization. Unique to the KST ecosystem, community members are incentivized to participate in the pre IDO selection process through higher allocation rewards. Also unique to KSM Starter, collaboration is fostered among launched projects by incentivizing community members to support previous launches by awarding them with improved lottery odds. This along with the KST Ecosystem Council generates a synergistic network effect that empowers all projects to succeed and leave a lasting impact on Kusama.
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