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According to the description on GitHub, the agreement is designed to be traded on Ethereum in the context of "complete privacy."
Nightfall integrates a range of smart contracts, microservices and ZoKrates zk-snark toolkits to enable standard ERC-20 and ERC-721 tokens to be traded in a completely private manner on the Ethereum blockchain. Currently, the project is in the experimental phase and is still under active development.
It is reported that with the free code provided by Ernst & Young, corporate customers can use the Ethereum blockchain for supply chain management, food tracking and transactions between branches of different companies.
Nightfall takes advantage of the “zero-knowledge proof” technology, which allows information to be shared between parties that do not trust each other without revealing the information itself.
Paul Brody, global innovation leader for the Ernst & Young blockchain, said Ernst & Young wanted to run Nightfall in two existing products, the "EY OpsChain" and the "EY Blockchain Analyzer." EY OpsChain is used to encode applications for use cases such as purchasing, sales, and inventory management on blockchains.
Our audit team primarily uses blockchain analyzers to match transactions between public/private blockchain networks and ERP systems and other enterprise systems for auditing purposes.
We are working hard to integrate auditing and security integration into a suite of capabilities to help businesses engage in secure, private, reliable and compliant business transactions across the public blockchain network.