After months of development, Data Ownership Protocol’s mainnet (beta) is live.

Try it now

 

It’s a significant milestone — and will allow crypto users to experience the power of DOP’s technology directly on the Ethereum blockchain.

 

Over-transparency is a significant issue in the digital assets space, with details about every transaction visible for the world to see. To make matters worse, wallet balances are also on display, eroding privacy and creating security concerns.

 

DOP’s arrival means that cryptocurrencies in Ethereum wallets can be effortlessly encrypted within a few clicks. Initially, the mainnet offers support for the following ERC-20 tokens: USDT, USDC, DOP, WBTC and ETH. Additional tokens will be added gradually. Funds can then be confidentially sent to other users within the DOP protocol, or decrypted within seconds.

 

This flexibility means crypto owners can finally benefit from the privacy that’s afforded to everyday consumers with bank accounts — and removes one of the biggest downsides standing in the way of mass adoption.

 

A careful and considered approach has been taken in building DOP. Ethereum is one of the world’s largest and best-known networks, and commands billions of dollars in trading volumes every single day. Bringing DOP’s technology to this network — and delivering compatibility and native integrations with popular wallets and dApps — means crypto users don’t need to get their head around complicated third-party tools. Instead, cutting-edge selective transparency features will soon be accessed through the platforms they already know and trust.

 

What’s more, a high degree of personalization means every user will have more control of their data than ever before. In the future, it will be possible to share specific information with third parties where needed, with permissions revoked at any time and disclosures adjusted for each app. DOP’s infrastructure will also open the door to anonymized identity verification through zero-knowledge Know Your Customer checks. In a world where there has been an unacceptably large number of significant data breaches, this is an especially powerful use case.

 

Our meticulous approach to development was reflected in a perfect 10/10 security score from Hacken, one of the blockchain industry’s most-respected auditors, with an overall score of 9.7/10. No vulnerabilities were found within DOP’s code and smart contracts, meaning users can have confidence that this infrastructure is safe and has been aggressively tested. Security and reliability are crucial for protocols — especially when it comes to protecting users and their funds.

Phase 1 begins 

DOP’s mainnet (beta) launch is a critical first step on a long and ambitious roadmap that aims to ensure millions of people around the world can take ownership of their data and protect their sensitive on-chain data. It’s important to note that this beta version initially includes only the core capabilities of the Data Ownership Protocol, and more features will be added over time.

 

A mainnet airdrop campaign has been established to reward early adopters for their participation and engagement. This follows invaluable contributions and feedback during the testnet phase, which saw 2.67 million participants put our technology through its paces. By using the protocol to make transactions—such as encrypting, sending, decrypting, and staking—users can earn points that can later be redeemed for DOP tokens. For more details on the Mainnet Airdrop Campaign, check out our blog post.

 

And from day one, crypto owners who interact with DOP’s infrastructure will be able to take advantage of powerful use cases. Fifteen years after the first blockchain was launched, users can finally perform transactions in private — and prevent information about their finances from entering the public domain. The encryption of crypto is only the beginning, too. Why? Because this technology can play an invaluable role in the secure storage of sensitive information, and creating a world where centralized companies no longer collect vast amounts of data on their users — and monetize it without consent.

 

Fee Structure

It’s important to understand the fees associated with using DOP’s mainnet. Currently, there is a fee of 0.1% for every encryption and decryption action performed on the platform. For example, if you encrypt 1 ETH, the fee would be 0.001 ETH.

 

An additional flat fee of 10 DOP tokens will be introduced for each transaction (encryption, send, and decryption) after the DOP token is listed and becomes transferable. Until then, this 10 DOP fee is waived to encourage adoption during the initial launch phase.

 

The fees collected from encryption and decryption actions are used to buy DOP tokens from the market. 75% of these tokens are burned, while the remaining 25% are allocated to the staking rewards pool.

 

It’s also important to note that since DOP operates on the Ethereum network, all transactions will incur the usual Ethereum network gas fees. Therefore, it is advisable to have enough ETH in your wallet to cover these gas fees.

 

Expanding to Other Blockchain Networks

While we are launching the beta version of the DOP mainnet on Ethereum, we are aware of the high gas fees associated with this network. This Ethereum deployment serves as a proof of concept, allowing us to validate the protocol’s functionality on a well-established and widely adopted blockchain.

However, we aim to expand DOP’s presence to other blockchain networks with lower transaction fees. By integrating with L2’s & EVM-compatible networks, we can provide our users with a more affordable and efficient experience while maintaining the security and interoperability benefits of the Ethereum ecosystem.

 

Our long-term vision is to make DOP’s data ownership features available across multiple blockchain platforms, ensuring that users have the flexibility to choose the network that best suits their needs and preferences.

 

Looking Forward

 

Ethereum’s co-founder, Vitalik Buterin, has himself spoken of the need for greater levels of privacy on this blockchain. Last year, he set out a vision where crypto users would be able to prove their funds are from lawful sources, without divulging their entire transaction history. DOP elegantly delivers all of this — and makes use of cutting-edge analytics from Chainalysis to prevent the protocol’s users from coming into contact with tainted funds. At last, data ownership and privacy have arrived on Ethereum in style.

 

The launch of DOP’s mainnet (beta) is a huge achievement, and one we’re incredibly proud of. But there’s no time to waste — and much more to do. Future phases will now focus on expanding the protocol’s capabilities even further, and ensuring our technology is integrated in popular crypto wallets. We look forward to you joining us on the journey.

Access DOP’s mainnet here.