Grouping

Current Situation

In traditional group buying methods, participants' funds are pooled into a central account, requiring complete trust in the organizer. This centralization poses the risk of funds being mismanaged or misused, potentially compromising the safety of participants' assets.

Moreover, on Web2 platforms, users' behavioral data can be analyzed to infer sensitive personal information. For instance, there have been cases where shopping sites analyzed a user's purchasing patterns to deduce highly sensitive information about the customer, even before their own family knew. Such instances highlight the risks of sensitive personal information being exposed, underscoring the importance of privacy protection.

Solution

The Grouping platform uses Zero-Knowledge Proof (zk) technology and blockchain to protect users' personal information during the group buying process and to prevent the centralization of funds.

On Grouping, payments are made directly from each participant's wallet when the group purchase is finalized. Additionally, zk technology is employed to protect buyers' personal information from both the platform and other users. This structure enhances the security of funds and protects personal information, thereby providing greater trust to participants.

Service Overview

• Privacy Protection**: Users can prove the validity of their payment using Zero-Knowledge Proof, without revealing the payer’s identity or the payment amount. This ensures that the user’s anonymity is thoroughly protected.
• Payment Verification**: Grouping’s group buying system confirms that a payment has been made using Zero-Knowledge Proof while guaranteeing the user’s anonymity. The platform verifies the validity of the payment but does not know who made the payment or how much was paid.
• Transparency**: Other users can also verify the validity of the payment through Zero-Knowledge Proof, but they cannot know the payer's identity or the payment amount. This feature maintains transparency in the group buying process while enhancing privacy protection.
• Fund Security**: On Grouping, funds are not pooled into a central account; instead, payments are made directly from each participant’s wallet when the group purchase is finalized. This makes it extremely difficult for an attacker to steal all the funds, as they would need to attack each participant’s wallet individually.

Main Components of the Project Frameworks and Libraries Used

Frontend: NextJS, React, Zustand Web3auth: Utilized to assign pre-created wallets even when logging in via SNS or Google email, making the service more seamless for users.

Contract: Fhenix: Used as a core technology for data protection.