Greeneum Delivers a Zero-Knowledge Proof Platform
Introduction
There are several platforms and projects within the energy sector, which has been present over the past decade. However, most of these projects operate within a centralized system that is often porous to security threats and does not offer maximum protection to information and assets of clients. The interference of third parties also causes delays to the processes and operations within these platforms, while accruing increased costs. This is what birthed the need for a platform in the energy sector, which adopts a decentralized system. Greeneum is the project that has come to offer a decentralized system of handling energy projects, with the integration of blockchain technology, in the industry.
Greeneum utilizes the amazing and exceptional features in blockchain technology to offer a decentralized system in the energy sector, and this has improved varied areas of the industry. There is an advanced level of security, which enables the protection of data against breaching and shields clients’ assets for cyber thefts. The technology also improves the level of transparency of performing transactions and other activities related to energy systems. More so, there is an increase in the efficiency of generating green energy within the industry due to the incorporation of smart contracts.
The simplified process within the Greeneum network starts with the collection and validation of the energy generated by the producers within their platform. Greeneum adopts the use of Artificial intelligence and machine learning technologies to accumulate and verify all the produced energy from merchants within its network and allocates each of these producers with Green certificates. These producers can then decide to exchange their certificates for Green tokens. All these processes are performed automatically, which often causes most producers to bother about their information privacy and data security. This worry intensifies due to the ease and frequency at which members of the Greeneum community often share their information within the network.
Due to this worry experienced by merchants generating energy on the platform and Greeneum’s resolution to deliver a protected system and avoid any level of data breaching challenges in their network, they are introducing the use of Zero-Knowledge proof technology, powered by blockchain technology. This technology will improve the security level that governs the transmission of information from one person to another on the Greeneum network. In basic terms, the Zero-Knowledge Proof (ZKP) technology is a digital protocol that enables the sharing of data between two parties without the need of exchanging important information or passwords.
The ZKP technology validates the shared data automatically without divulging the information and ensuring that there is no compromise of the data on either side. This increased level of data protection and security enables producers, clients, and other community members to transmit necessary information between themselves without the exposure of their details.
Zero-knowledge Proof technology offers varied benefits to the processes involved in the Greeneum network. These advantages include:
The technology is basic and simple to understand, as it does not have any cumbersome encryptions or algorithms.
There is an absolute assurance of data security and protection, and the confidential information of clients is secure.
ZKP improves the efficiency of the Greeneum network.
The management team can decide to implement the technology at several stages of the blockchain.
USEFUL LINKS
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AUTHOR'S DETAILS
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