In order to introduce Haven to new users and platforms all over the world, today we are publishing a major revision to Haven’s white paper. This is the second announcement made during Haven’s multi-week “Announcement Season”, following yesterday’s introducing of the Haven 2.0 Fee Structure.
Haven Protocol’s initial white paper – which first outlined the concept of “offshore storage” – was published in 2018. Since that time, Haven has been completely overhauled with a community-led development team, a new codebase, and numerous changes to the core protocol. All of this work led to the successful launch of the world’s first private stablecoin (xUSD) in July 2020.
You can now read the Core Protocol 3.0 white paper here.
This white paper documents the core functionality offered by Haven Protocol. Other second layer functions are not covered in this paper, and will be addressed separately on a case-by-case basis.
The Core Protocol 3.0 white paper includes detailed explanations of the innovative work completed by Haven’s developers over the last two years, such as the first working implementation of a “coloured coin” model on the Cryptonote protocol.
It also includes a new discussion regarding the interaction of the Haven’s coloured coin model with a variable exchange rate required to enable private xUSD transactions on the network. The white paper provides details on how Haven gathers immutable pricing information, converts inputs into outputs based on that price, validates transaction information like any other private Cryptonote transaction, and validates that accurate pricing has been applied to exchanges while protecting the user’s privacy.
Finally, the Core Protocol 3.0 white paper includes details about Haven’s collaboration with ChainLink to provide secure, decentralized pricing information to the network. It also discusses why the protocol includes flexibility in pricing discovery and the ability to add, swap and remove oracles over time to ensure Haven uses best-in-class data now, and into the future.