Please describe your proposed solution

Our first two research goals focus on the Elliptic Curve Integrated Encryption Scheme (ECIES) hybrid encryption. ECIES combines asymmetric cryptography with symmetric ciphers, and we'll explore using ElGamal with an invertible linear mapping. The aim is to develop a fully on-chain, decentralized solution where the wallet holder can only decrypt encrypted NFTs. This approach ensures data privacy without relying on centralized entities, aligning with Cardano’s decentralized ethos. The solution will benefit creators, collectors, and developers by providing secure, private NFT access and helping Cardano lead in encrypted digital assets.

In addition to ECIES and ElGamal, we are investigating advanced symmetric encryption methods such as AES and ChaCha20-Poly1305 for efficient, high-performance encryption and decryption.

By integrating these cryptographic schemes, we aim to create a seamless user experience where NFTs remain encrypted and secure but only accessible by the rightful wallet holder. This ensures a decentralized, trustless environment that prioritizes privacy and security, further strengthening Cardano's position as a leader in decentralized encrypted assets.

Please define the positive impact your project will have on the wider Cardano community

Our solution will bring value to the Cardano community by providing a fully decentralized, privacy-focused NFT encryption system that allows creators, collectors, and developers to securely manage and access NFTs without relying on centralized decryption services. This will foster innovation in privacy-preserving digital assets, positioning Cardano as a leader in decentralized security.

We will measure impact through the adoption rate of our solution, tracking the number of NFTs encrypted and decrypted using our method, and user feedback on security and ease of use. Success will also be gauged by collaborations with developers and creators within the Cardano ecosystem.

To share our outputs, we will release open-source libraries, publish research findings, and provide detailed documentation.

What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?

With my extensive experience in smart contracts and cryptographic protocols, I am well-suited to deliver the project with high trust and accountability. I have a track record of successfully building secure smart contracts on Cardano.

What are the key milestones you need to achieve in order to complete your project successfully?

Milestone 1: Initial research report

A: Milestone outputs

B: Acceptance criteria

C: Evidence of milestone completion

Milestone 2: POC of research using AIken

A: Milestone outputs

B: Acceptance criteria

C: Evidence of milestone completion

Milestone 3: Testing of NFT encryption/decryption

A: Milestone outputs

B: Acceptance criteria

C: Evidence of milestone completion

Final Milestone: Smart Contract Integration and use case report with video

A: Milestone outputs

B: Acceptance criteria

C: Evidence of milestone completion

Who is in the project team and what are their roles?

Quinn Parkinson - Researcher

Positions to fill:

Security Advisor

Safety Auditor

Please provide a cost breakdown of the proposed work and resources

Each role is getting a flat rate from the budget. We will split it into three parts.

45000 ADA - Researcher

45000 ADA - Security Advisor

45000 ADA - Safety Auditor

No Dependencies

How does the cost of the project represent value for money for the Cardano ecosystem?

Allowing decentralized NFT encryption will be a significant win for the Cardano ecosystem. The cost of this project is insignificant compared to the success it could bring Cardano.