Self-custodial Private Accounts

Private Accounts are the core part of illumineX Private Wallet and a core subject of your on-chain privacy. Every account has a unique private address and is separated from other accounts.

How does it work?

Every private account you have within your wallet is an abstracted smart contract (using EIP-4337) deployed on the Privacy Layer and controlled by the secp256r1 signing key pair, similar to how Ethereum signatures work.

All the requests, such as transfer of assets, withdrawal of assets back to the source network, viewing of balances, etc. are signed by the owner (user) and encrypted using the Deoxys-II symmetrical encryption algorithm which is natively supported by the OPL, this prevents the requests from being viewed by the off-chain bundler.

To abstract end users from the OPL gas and other complexities, off-chain bundlers and paymasters are being involved (read more about EIP-4337) that are handling all the mutable interactions with the OPL.

Each private account has its balance in private tokens, which makes it possible to hide the balances and transaction history of a private account from a third-party observer.