This post is part of a Web3 series by DMCG Global specialist Sean Anderson that breaks down Web3, Blockchain and Crypto terminology in more detail.
So, what are ZK-Proofs (Zero-Knowledge Proofs)?
Another complicated one for the average person to digest, I've tried my best to break it down into layman's terms.
A ZK-Proof is a method of verifying the truth of a statement WITHOUT actually revealing any additional information about it.
From a more technical perspective, zero-knowledge proofs are cryptographic protocols that allow one party (the prover) to prove to another party (the verifier) that they know a certain piece of information without revealing what that information is.
The concept of a ZK proof was first described in a 1985 MIT paper, published by Shafi Goldwasser and Silvio Micali.
Micali and Goldwasser demonstrated that it was possible to prove some properties of a number without disclosing the number or any additional information about it.
Why might we need zero-knowledge proofs?
Verify credentials or identities without directly divulging them.
Introduces more privacy for public blockchains.
To improve privacy and security for applications.
There are different types of zero-knowledge proofs such as ZK-SNARKs which I can unpack in a future post.
How important will ZK-proofs be for the future of blockchain scalability?
Join the original conversation here.
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