Zero-knowledge proofs – a powerful addition to blockchain

While blockchain has brought us capital advantages like transparency, immutability, and decentralization, it can lack the privacy needed for some transactions. however, combining zero-knowledge proof ( ZKP ’ second ) with blockchain engineering has the world power to provide users with a knock-down mix of immutability and security system .

What are zero-knowledge proofs?

Zero-knowledge proof is an encoding scheme whereby one party ( the prover ) can prove the truth of specific information to another party ( the voucher ) without disclosing any extra information .
For an exemplify example of ZKP ’ second, watch the video recording below.

Despite ZKP ’ second being used to enhance blockchain ’ sulfur functionality, the protocol preceded the invention of the decentralize daybook by forty years. The method was first introduced by MIT researchers Silvio Micali, Shafi Goldwasser, and Charles Rackoff in the 1980s .
There are two chief kinds of zero-knowledge proofread – synergistic and non-interactive .
synergistic ZKP ’ s involve a series of tasks or actions that the prover must complete to convince the voucher that they have particular information. Most of the needed tasks undertaken in interactional ZKP ’ s normally involve concepts of mathematical probability .
Non-interactive ZKP ’ s require no interaction between the prover and voucher, or the confirmation can take station at a late stage. These types of ZKP ’ south require extra computers or software .

All zero-knowledge proofs include three essential prerequisites:

  • Completeness: if a statement is true then the verifier can certify the prover possesses the required input.
  • Soundness: the statement cannot be falsified, and the verifier cannot be convinced the prover has the required input when they do not.
  • Zero-knowledge: the verifier will not be able to know any information beyond the statement being true or false. Details of the information and personal data of the other parties stay anonymous.

The pros and cons

Like all forms of engineering, zero-knowledge proofs have a image of advantages and disadvantages.

Advantages Disadvantages
Does not require any complicated encryption methods.
The protocols for ZKP’s usually rely on mathematical equations and numerical answers. Any other method requires a translation.
Increases the privacy of users by avoiding the reveal of personal information in public blockchains.
Requires a large amount of computing power
There are around 2000 computations per ZKP transaction that each require a certain amount of time to process.
Strengthens security of information by replacing ineffective authentication methods.
If the originator of a transaction forgets their information, all the data associated with it is lost.
Increases blockchain throughput and scalability.
Potential vulnerability to advanced technologies like quantum computing.

Uses of zero-knowledge proofs in blockchain

ZKP ’ s provide flexibility and choice to users who want command and exemption over their information. therefore, it makes sense that, when combined, blockchain and ZKP ’ s have multiple uses .

Private transactions (EY and Nightfall)

The many concerns around privacy and data sovereignty led consulting firm EY to release ZKP and blockchain solutions .
In 2019, EY released Nightfall, a public ZKP protocol that allows companies to preserve confidentiality while conducting private and batten transactions on public blockchains .
As part of their $ 100 million spend on blockchain-related developments, EY will be working on Starlight, a ZKP prototype compiler, that “ supports the needs of complex occupation agreements where business logic must be shared between parties at the network level but privacy from competitors besides remains critical. ”
Nightfall and Starlight both drive to allow users greater security and privacy on blockchain applications .

Messaging applications

throughout encoding has played a big character in allowing messages to be sent privately. however, traditional message applications require users to verify their identity to a waiter. With ZKP ’ south, an individual can prove their identity without releasing extra personal data .

Complex documentation

Combining ZKP ’ second and blockchain allows users to plowshare complex documents with security. ZKP ’ randomness have the potential to encrypt data in pieces, this enables users to control certain blocks and the visibility of the information contained within them, allowing some users access while restricting others.

If your occupation could benefit from data sovereignty and enhanced security contact us for a free demonstration of our blockchain-backed solutions .

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