Miden overview¶
Miden is a rollup for high-throughput and private applications. It features private accounts, a hybrid account/UTXO state model using Notes (which themselves have different types) and local transaction execution with proof generation. It inherits Ethereum’s security and decentralization, with the added benefit of privacy and high throughput.
Info
To learn about Miden’s technical details, architecture, and how to deploy its parts, please see the Miden technical docs.
Miden’s design makes it intuitive for developers who may wish to build private applications in DeFi, Gaming, prediction markets, governance, and more. Here are some examples:
Private DeFi trading¶
A decentralized exchange could leverage Miden’s private notes to enable confidential trading. Users could create private notes containing their trade orders, including asset amounts and desired exchange rates. The note’s script would define the conditions for execution, such as price limits. When it finds matching orders, the transaction kernel would execute privately, swapping assets between parties without revealing trade details to the network.
Confidential voting system¶
Miden’s private notes allow implementing a transparent yet confidential voting system. Each eligible voter would receive a private note containing their voting rights. The note’s script would ensure that each user can only vote once. Voters cast votes as private transactions, with the results tallied by the network without revealing individual votes. This system would provide verifiable integrity while preventing vote buying or coercion.
Privacy-preserving gaming¶
A blockchain-based game could use Miden’s hybrid account/UTXO model to manage in-game assets and actions. Private notes store players’ inventories and progress, while public notes store global game state. Note scripts implement the game logic, allowing for complex interactions and trades between players without revealing sensitive information about their game state to others.
Confidential supply chain management¶
Businesses could use Miden to track their supply chain while maintaining confidentiality. A private note represents each step in the supply chain, containing information about the product, its origin, and current status. The note’s script could enforce business rules and regulatory compliance. Partners could selectively share information using encrypted notes, allowing for transparency where needed while keeping sensitive details private.
Private prediction markets¶
A prediction market platform could leverage Miden’s privacy features to create markets where participants can place bets without revealing their positions. Each bet is a private note, with the note’s script defining the conditions for winning. The market’s aggregated data is then made public through a separate mechanism, while individual bets remain confidential. This would prevent front-running and market manipulation while still providing valuable crowd-sourced predictions.