Ethereum client Parity added support for private transactions, giving developers the ability to create and deploy encrypted smart contracts.
On Tuesday, the release Parity 1.11.1-beta, which is one of the most popular Ethereum client received several new features. The most attractive of them is to support private transactions that allows developers to encrypt smart contracts.
“Private transactions allow you to store, edit, and view code and the state of the group permitted participants. This means that when private transactions on public networks, all the contracts and deals available only to those who have permission to do so. But now you can work with others in the open with strong encryption”, — explained in the release Parity.
Another explanation of the fact private transaction was posted on Reddit by the developer Parity Maquiagem Hiram (Maciej Hirsz):
“Private transactions are private contracts in which the state and the contract ID is encrypted. First, the transaction is sent outside the chain the validators (specified in contract), which must be confirmed, and then the encrypted version with the signatures of all validators is sent to the chain”.
The initial release of this feature has a few limitations, including the ability to perform only one private transaction in the block. In addition, currently there is no way to determine how many validators should check for private transactions, so under the current structure it should do all the validators.
In addition to private transactions Parity 1.11.1-beta improves the function warp sync, which allows users much quicker to sync your server with bloccano. In addition, the new version also gives the nodes the opportunity to test transactions in parallel, thereby greatly optimizing the process.