<p>This year, zero-knowledge proofs (ZK-proofs) gained traction in the crypto community, but others outside of the field, even programmers, might be confused.</p><p>Despite appearances, ZK-proofs are complex. They make it easy for the prover to show the verifier that it knows something without really telling the verifier anything. The prover is not obligated to divulge the details in this case.</p><p>The concept was first proposed by a small group of scholars in the mid-1980s. As a result, it is now a practical method for verifiable computing and has paved the way for the Web3 setting, where ZK-proofs take center stage.</p><h3 id="zk-in-blockchain-the-evolving-function-of-it">ZK in Blockchain: The Evolving Function of It</h3><p>ZK-proofs have always been a part of theoretical cryptography, but the decentralization of blockchain technology has brought them to the forefront. Blockchain is really just a distributed ledger system. Every single detail of every single transaction is recorded and made public.</p><p>Even while blockchain technology promotes openness, protecting user data remains an important concern.</p><p>Blockchain privacy-openness problems are resolved using ZK-proofs. While protecting user anonymity and the immutability of the blockchain, they validate transactions without disclosing any associated data.</p><p>An important use case for ZK-proofs on the Web3 in the past decade has been verifiable off-chain computation, a blockchain innovation.</p><h3 id="struggles-to-resolve-the-scalability-issue">Struggles to Resolve the Scalability Issue</h3><p>Before we talk about how important verifiable off-chain computing is, let&#39;s talk about how smart contracts have very strict limits. There are three big problems with smart contracts that can barely be ignored:</p><ul><li>Smart contracts are limited in the kinds of data they can get. Anything that isn&#39;t saved on the blockchain, like token prices, they can&#39;t get.</li><li>Blockchains were not designed to hold a lot of information. It would cost a lot of money and take a long time to pull off.</li><li>The limited types of conditional logic that a smart contract can use when gas prices are very low.</li></ul><p>In order for the blockchain to grow to meet the demands of the Web3 ecosystem, these problems must be resolved. Fortunately, ZK has expanded alongside Web3.</p><p>By removing some data and processing tasks from the blockchain, we can gracefully address the network&#39;s computing and storage limitations.</p><p>Blockchain technology has evolved since it became public knowledge that off-chain operations may be carried out and that a ZK-proof can be utilized to transmit a concise and reliable summary of these off-chain operations to the main chain, all while keeping the underlying data private.</p><h3 id="all-things-considered-zk-39-s-upcoming-generation">All Things Considered, ZK&#39;s Upcoming Generation</h3><p>Although ZK-proofs over decentralized storage and ZK-rollups have extended blockchain possibilities, something important is missing. More decentralized storage options exist than expected.</p><p>Data storage is vital, but these platforms can only retrieve data (not &#34;compute&#34;), limiting their relevance. Even ZK-rollups, which run many computing workloads, don&#39;t help.</p><p>#ZK-proof</p>

Zero-Knowledge (ZK) Proofs: What You Need to Know

Table of Contents

dailyabay

Other articles published on Nov 29, 2023

AFAQ Group Announces the 24th Financial Expo-QFEX

Overhauled OpenAI Board Opts Not to Offer Seats to Key Investors

Blockchain Security Firm Uncovers Alarming Rise in Fake Journalist Scams Targeting Cryptocurrency...

SEC Delays on Franklin Templeton & Hashdex: Bullish Approvals on Spot Bitcoin ETFs

Binance Not Authorized to Operate in the Philippines: SEC

🚀✨ WEEKLY HODL ROUNDUP: NOV 20 - NOV 26, 2023 ✨🚀

Join our free newsletter for daily crypto updates!