ZeroKnowledge-proof, the future of the information age

in #encryption7 years ago

One of the most complex issues solve with cryptocurrencies was the leak of privacy. With bitcoin for example, all transactions are public and therefore traceable. Zcash and a couple other currencies have a focused on this leak of privacy and implemented ZeroKnowledge making it a lot more capable to use as money then bitcoin. The concept of ZeroKnowledge-proof will be explained below. Then I will move on to various possible implantations.

The concept

Zero-knowledge proofs are a scientific breakthrough in the field of cryptography: they allow you to prove knowledge of some facts about hidden information without revealing that information.


Image source: slideplayer.com

Imagine you have a box and a key to lock it. The key does not open the box. But the receiving end can open the box. It has a key that does it. Besides opening the box there is no other option to know what is in it. You send the box to the other party and it confirms by opening and telling what is. Many bank transactions work like this as well.

Z.cash & other crypto

One of the most common use now is Crypto markets. Other then bitcoin such Z.cash, Ether & Dash. Implementations of the technology may vary.

Certified e-mail

Legal documents and other documents that have to be confirmed delivered. Or DLC for games for example. Such products & services could integrate zero-knowledge. Or even royalty payments to artists within countries that make such things complicated or impossible.

What are your thoughts and what are your idea's to implement zero-knowledge-proof in? Leave it in the comments.

Coin Marketplace

STEEM 0.18
TRX 0.15
JST 0.028
BTC 63006.79
ETH 2456.26
USDT 1.00
SBD 2.59