Switzerland-based ZeroSync Association and StarkWare are working to scale Zero-Knowledge Proof technology running on the Ethereum blockchain to Bitcoin.
StarkWare’s Zero-Knowledge Proofs Are Now Live on Bitcoin
Zk-proof technology has made its mark on the blockchain industry since its release. The technology was usually traded on the Ethereum mainnet. Using Starkware’s Ethereum Layer-2 scaling solution StarEx, Switzerland-based Zerosync Association is bringing Zk-proof technology to Bitcoin. Louis Guthman, StarkWare’s head of ecosystem, said:
“ZeroSync is the first production effort to fundamentally upgrade the bitcoin protocol. It will change the way people think about the system at a fundamental level.”
The Bitcoin optimization of Zk-proof technology is still in the prototype stage. It is good news for developers that this technology, which is widely used on the Ethereum mainnet, can be optimized for Bitcoin.
What is ZK-Proof?
Zero-knowledge proof (ZKP) is a cryptographic protocol that allows one party in an interaction between two parties to prove that it has a certain piece of information. However, it must not reveal anything about what that knowledge is.
The protocol is used when someone wants to prove something, and the other party needs to verify that proof. During this process, the party providing evidence proves the accuracy of the information to the other party without providing any information.
ZKP can be used in many different areas, such as an identity verification process, proving that a person has a document, digital payment systems, and blockchains.
The most significant feature of ZKP is that it allows a party to prove that they have certain information while protecting privacy by preventing that information from being disclosed.
ZKP Technologies Go Mainstream
Due to the development of zk-proof technology and the importance of privacy for blockchain platforms, many platforms are showing great interest in zk-proof technology. Zerosync Association and Starkware are working together to optimize the technology, which is widely used on the Ethereum network, for Bitcoin.
Starkware allows off-chain processing of large cryptographic computations, while Zerosync software development kits and other products allow these operations to be performed at the highest possible speed. Eli Ben-Sasson, co-inventor of STARKs and president of StarkWare, said:
“After years of frustration about slow syncing, users will be able to sync with the network much faster and with less computation. It’s a technological leap similar to the transition from slow dial-up Internet to high-speed broadband”
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