📄️ Overview
The fairyring chain uses Threhsold IBE (Identity Based Encryption) to allow users to encrypt transactions using a public key,
📄️ Public Keys
Users encrypt their transactions using a master public key (MPK) and then choose the condition for decryption (the ID).
📄️ Keyshares
Each MPK is derived from a Master Secret Key (MSK), which is generated each epoch by the Share Generation Client.
📄️ Keyshare aggregation
The key share aggregation process is made possible through threshold cryptography.
📄️ Encrypting transactions
Unlike normal transactions, encrypted transactions work a bit differently.
📄️ Transaction decryption and execution
Upon reaching the target height, the transaction is decrypted using the derived private key of the particular block height