EVM privacy

Each participant (e.g., each financial institution) installs a Rayls Privacy Node. For maximum privacy, the Rayls Privacy Node is designed to be installed on-prem in each institution's infrastructure, behind their firewall (note that it is also possible to use a Rayls Privacy Node as a service, for example a major institution may offer Rayls Privacy Nodes to smaller institutions, at the cost of loss of some of the privacy).

Each Rayls Privacy Node also comes with a Relayer that connects each Rayls Privacy Node Ledger to the Private Subnet's Hub.

Given the above setup, the way that Privacy works in Rayls in as follows:

1. Anything done inside a Rayls Privacy Node is, by definition, private
2. Rayls Privacy Node can send/receive tokens to other Rayls Privacy Nodes (through the Subnet hub)
3. Tokens sent/received by Rayls Privacy Nodes are encrypted with post-quantum cryptography
4. Participants of the Private Subnet (Rayls Privacy Nodes and/or node validators of the Subnet Hub) cannot see any information about the private transactions