Steemit Crypto Academy Contest / S12W6 - Privacy is important.
hello and welcome to my blog for today, hope you guys are really doing fine. It's really good to get to participate in this week's engagement challenge, and I hope you all would find my entry interesting to read through.
in my own understanding, I can say that zero knowledge protocol is method by which one party (prover) can proof to the other party (verifier) that a given statement is very true without disclosing any additional information.
zero knowledge protocol helps in such a way that only you can access your information even though you have then presented during a sign up of a website in the internet. it helps in a way that you are the only one who can access your information in a Blockchain or even your service provider.
for example, if two children goes to a party, and each of them is given some good number of gifts, now two of them really wants to know the amount of gift given to each other but does not know how to check.
now one of them would bring four lockable boxes in a room, and these boxes can contain some good number of gifts given to them, now he labels the boxes with the number of gifts he thinks that would be given to the other. and keeps the keys.
now the other person enters the room and lables the box which she will put her gift (+) while the rest she labels (-), now she slips the paper piece with (+) in one box and the ones with (-) sign in the other boxes and leaves.
now the other person who is desperate to know the amount given to the other would enter the room and opens the box which he has his key and checks if the boxes has a (+) sign or a (-) sign, with this he realizes that the other have the equally amount of gifts while in other case she doesn't.
with this, you can see that these has given the first person a clue that he has more gifts than the other, while on the other hand it has also given the second person a clue that they don't have exact amount of gifts, but none of them will know the exact number each other had.
This very acronym stands for zero-knowlege succinct non-interactive argument of knowledge, this refers to a proof construction, where someone can prove possession of a certain information without reveiling that information and also without any interaction between the prover and the verifier.
this type of proof was first introduced and developed in the late 1980s, which is currently employed by the cryptocurrency named zcash, to solve a problem with Bitcoin type Blockchains.
with most types of cryptocurrencys, transactions in the Blockchain is been checked and confirmed by the network, checking that certain conditions have been met. whereas, the conditions is that the sender has the funds available and that they have provided the correct public key to show that the funds are there's.
zk-snark works in such a way that it allows the sender to prove all that without reveiling any of the addresses or the amount involved. during the transaction process zk-snarks turns the whole information that's needs to be proved Into equations, and these equations can be solved without disclosing the information itself.
on the other hand, I think it is not good to adapt it to the steemit Blockchain, this is a Blockchain runned by many people around the world, and I think that making the transactions made in the platform unseen will bring more room to fraud and other bad acts, whereas making the transactions open to be seen by everyone makes it possible to detect those doing bad acts in the platform.
level of complicity: zk snark requires a trusted setup, which means that each of the members are required to generate a set of secret keys together, while ok the other hand, the zk-starks on the other hand do not require a trusted setup, making it more secure to attack.
level of tranparency; zk snark are not transparent, this simply means that it is difficult for someone to verify the proof without access to the secret code. while on the other hand, the zk starks are transparent, meaning that anyone can verify the proof without access to any secret code or information.
the steem Blockchain uses many privacy mechanism, the type of privacy they use helps to keep hackers or attackers away from attacking ones funds, although those hackers can go to any length by sending phisung links which everyone has been warned not to open links that want to give you money or steem for work for them, these hackers can go to any length to see that they take your asset from you, and that's why steem Blockchain has produced so many privacy mechanism in it's Blockchain.
Most of them helps us during transactions, I have seen so many cases in most platforms were you can send an asset to someone and it ends up been compromised on the way, but the steemit Blockchain uses a more secure privacy that enables some important information of the sender and the receiver to be secured and away from attackers.
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Estoy de acuerdo contigo en que adoptar el protocolo ZK-SNARK en la blockchain Steem traería más problemas que mejoras o beneficios ya que dicho protocolo es incompatible carece de transparencia al ocultar de la vista pública sus movimientos, lo que pudiera generar un espacio para que facilite el fraude y otras actividades maliciosas.
Gracias por compartir, te deseo mucho éxito y suerte en el desafío.
Yes, truely it will be a bad idea to adopt it to the steem Blockchain, thanks for reading through my post.
Hey friend,
Appreciate you for breaking down such complex text into a simple lower and easier one, this technology I have in securing the privacy and security of any project that integrate it.
Thanks for sharing such lovely post, please also engage on my post https://steemit.com/hive-108451/@starrchris/steemit-crypto-academy-contest-s12w6-privacy-is-important
It's good to see that you have read all parts of my post, I will also drop a comment on your post.
I strongly agree with you that zero knowledge protocol is a way of proving one party to another party that one party have secret but party would not this close that secret upon everyone as well as if I talk about first party then it would be prover and second party would be verifier.
ZK-STARKs and ZK-SNARK both are terms which are similar in some aspects but most of the time these terms are different as you have also illustrated many of the differences between both of them as well as you have also explain some of the important privacy mechanism that are used by Steem blockchain.
I wish good luck and success to you in your entry but want to see some more depth in some of questions next time.
Thank you alot for going through my entry.