The Fiet Protocol leverages Verity, an advanced composable cryptographic infrastructure developed by Usher Labs, to enable secure and private verification of liquidity and settlement data. Fiet adopts the Verity zero-knowledge Transport Layer Security (zkTLS) stack to create a Prover of data flows — integrating sensitive financial data from traditional systems, such as centralised exchanges and banks, onto the blockchain without exposing private information.With Verity, the Prover is designed to:
produce high-frequency MPC-TLS proofs
that rollup into STARK-based zero-knowledge proofs, powered by RiscZero, then
verify in a public replicated and verifiable compute environment, the Internet Computer, where,
further public computation and state can be managed, before
a succinct Threshold-ECDSA Signature over a hash of state allows for VRL verification and cross-chain state syndication
This cryptography infrastructure ensures the integrity and transparency of on-chain processes while upholding stringent privacy standards, supporting critical Fiet operations.
The system encompasses several cryptographic technologies to support Fiet’s operations:
zkTLS Proofs: These zero-knowledge proofs, incorporating multi-party computation and STARK-based verification, securely validate data from trusted financial institutions, such as reserve liquidity amounts, while preserving confidentiality. They enable Fiet to confirm MM solvency and VRL commitments without disclosing sensitive account details.
Merkle Trees: Organise the VRL state within a verifiable compute environment, facilitating efficient validation of liquidity signals across Market Chains.
Threshold-ECDSA Signatures: Provide secure, decentralised signing of VRL state updates, enabling data portability and syndication to Market Chains for cross-chain verification.
These components, unified under the Fiet Prover, powered by Verity, ensure Fiet’s ability to manage private data securely in a decentralised ecosystem.
Usher Labs develops enterprise-grade data security and integration solutions for Web3 projects. The Verity infrastructure establishes verifiable data pipelines between traditional financial systems and blockchain environments, enabling Fiet to connect private data with decentralised ecosystems while ensuring trust, privacy, and compliance.