Public Ethereum Tether
Counter against collusion and add assurances to the historical finality of confirmed transactions by appending collectively signed state proofs of a private Kaleido chain to a public Ethereum network.
The Public Ethereum Tether is an environmental utility service that allows for synchronized views of the chain, designated via a block hash, to be signed by each node and periodically (based on a specified configuration) relayed to a public Ethereum network. This subsequently creates an irrefutable state proof of the private network at that point in time.
Why the Ethereum Tether?
Setting aside the technical complexities of such an operation, it’s hypothetically possible for a supermajority or entirety of the participants in a network to, for mutual benefit or malicious purposes, collectively collude in an effort to alter the blockchain or its underlying state database. Pinning aggregated signed agreements of the private chain’s state to a public network makes collusion attempts futile and provides a trustworthy attestation in the event of litigation or dispute. The state reports are retrievable by any member of the consortium, with the embedded digital signature on each report mapping deterministically to the public key of the signing node.