TEN Protocol: A New Chapter in the Ethereum Layer 2 Network

With the continuous development of blockchain technology, a group of senior experts from the fintech sector is driving a revolutionary Ethereum Layer 2 solution—TEN Protocol. This team, composed of former core members of R3, is dedicated to addressing many challenges currently faced by blockchain networks, leveraging their deep experience in finance and blockchain.

TEN Protocol, as an innovative Rollup technology, aims to provide scalability for the Ethereum network while also focusing on addressing key issues such as privacy and MEV (Maximum Extractable Value). The protocol allows developers to flexibly choose which parts of the smart contract need to be kept confidential or made public, providing more possibilities for various application scenarios.

Recently, the developer of TEN, Obscuro Labs, announced the completion of a $9 million financing round, with several well-known institutions as investors. Currently, TEN is in the testnet phase and is expected to launch its mainnet in October this year, with its native token also expected to debut in June.

Technological Innovation: Confidential Rollup

The core technological highlight of TEN lies in its innovative Confidential Rollup. This new type of Rollup draws on the advantages of Optimistic Rollup and ZK Rollup, while leveraging confidential computing technology and economic incentive mechanisms to achieve data confidentiality, shorten withdrawal cycles, and effectively address the MEV problem, all while maintaining performance and ease of programming.

Confidential Rollup utilizes Secure Enclaves and the POBI (Proof of Block Inclusion) protocol to not only securely handle sensitive data but also ensure the fairness and security of the network. Compared to traditional L2 solutions, TEN excels in the following aspects:

1. Shortened the withdrawal time
2. Achieved complete decentralization to avoid single points of failure.
3. Fully compatible with the Ethereum Virtual Machine (EVM), lowering the development threshold.
4. Comprehensive encrypted L2 transactions effectively protect user privacy.

Diverse Application Scenarios

The technical characteristics of TEN have brought significant improvements to multiple user groups and application scenarios:

1. Ordinary users: Effectively prevent MEV and protect transaction privacy.
2. Enterprise users: Meet the strong demand for encryption of transaction details.
3. Applications: Support for higher levels of privacy protection features.

In the DeFi space, TEN allows developers to have fine control over public and confidential information, providing new possibilities for applications such as lending protocols. In the gaming sector, TEN's privacy features make it possible to develop "fog of war" type games, which could even change the business model of the gaming industry.

In addition, TEN can also be applied to improve naming systems, auctions, gambling, and commercial agreements, providing technical support for various scenarios that require privacy protection.

Experienced Team Background

Most of the core members of the TEN team come from R3 and have a strong background in finance and blockchain. The founding team includes:

• Gavin Thomas: Former Head of R3 Corda Blockchain System
• Tudor Malene: Former Chief Engineer of Corda, with a military encryption background.
• Cais Manai: Head of R3 Payments and Digital Asset Project Products
• James Carlyle: Former Chief Engineer of R3, Co-designer of Corda

This experienced team brings their insights from traditional finance and the blockchain field into the TEN project, committed to building a blockchain network that meets institutional-level demands while providing an excellent experience for ordinary users.

With the ongoing testing of the testnet and the imminent launch of the mainnet, TEN is gradually moving towards becoming a leading Layer 2 solution in the Web3 space. Its native token TEN will play an important role in the network, including incentivizing node operations, paying operational costs, and participating in protocol governance.

The emergence of TEN Protocol not only brings new possibilities to the Ethereum ecosystem but also injects new vitality into the development of the entire blockchain industry. With the further development of the project, we have reason to expect that TEN will achieve breakthrough progress in addressing key issues such as blockchain scalability, privacy protection, and decentralization.