Wisdom Oparaocha on 🔐 Monero & Zero-Knowledge Proof Technology — For dummies
Zero-knowledge proofs technology is one of the most significant developments in cryptography and blockchains. The essential concept is to establish validity without revealing any underlying information.
However, while blockchain technology has provided us with many benefits, such as transparency, immutability, and decentralisation, it may not provide the level of anonymity required for specific transactions. Merging zero-knowledge proofs (ZKPs) with blockchain technology, on the other hand, has the potential to give a powerful mix of immutability and security to users.
Moreover, in the broader tendency to make the internet more private and secure, zero-knowledge proofs are a critical enabling technology (zero-knowledge proof technologies are PrivacyTech and ProofTech).
A zero-knowledge proof is a cryptographic mechanism or an encryption scheme for separating data verification from data. Here, one party (the prover) can prove the presence or existence of some information to another party (the verifier) without revealing the information.
Although Zero-Knowledge Proof Technology is used to improve the functioning of blockchain, the protocol was created forty years before the decentralised ledger. In the 1980s, MIT Professors Silvio Micali, Shafi Goldwasser, and Charles Rackoff developed the approach.
Types of Zero Knowledge Proof Technology
Interactive and Non-interactive zero-knowledge proofs are the two types of zero-knowledge proof technologies in existence.
1. Interactive zero-knowledge proofs require the prover to conduct a sequence of tasks or actions to persuade the verifier that they have specific knowledge. Most of the needed tasks in interactive zero-knowledge proofs mainly involve mathematical probability principles.
2. Non-interactive zero-knowledge proofs do not require interaction between the prover and the verifier, or the verification can be done afterwards. These zero-knowledge proofs necessitate the use of additional computers or software.
Three Important prerequisites for Every Zero-Knowledge Proof Technology
Completeness: If a statement is correct, the verifier can validate that the prover has all of the needed input.
Soundness: the statement cannot be falsified, and the verifier cannot be persuaded that the prover has the necessary input when they don’t.
Zero-knowledge: the verifier will have no information other than whether the statement is true or untrue. The information and personal data of the third parties are kept private.
Use Cases with Positive Impacts of Zero-Knowledge Proof Technology
· Sharing data: Sharing information on the internet without having third-party meddling into the information being shared is particularly important, which is one of the benefits of Zero-Knowledge Proof technology.
- Authentication: Zero-Knowledge Proofs can prevent any user from accessing complex documentation that the user does not have the authority to access.
- Complex Documentation: Zero-Knowledge Proofs are useful in transferring sensitive data such as authentication information with an extra layer of security.
- Storage Protection: Zero-Knowledge Proofs provide more protection for storage utilities due to the several protocols embedded to keep hackers away.
- Messaging: End-to-end encryption is critical in messaging, such that two users need to verify their trust in the server and vice-versa. Meanwhile, Zero-Knowledge Proofs gives access to this encryption without revealing any extra information.
- File System Control: All relevant data and information within a file system can be secured and controlled with the Zero-Knowledge Proof technology. The files and users can all have different security layers.
- Enhanced security for sensitive data: Sensitive data such as credit card information or bank statements requires an extra level of security which Zero-Knowledge Proofs can guarantee.
Benefits of Zero-Knowledge Proof Technology
Like all forms of technology, zero-knowledge proofs have several benefits and drawbacks.
1. Simplicity: No sophisticated encryption methods are required.
2. Privacy: Users’ privacy is enhanced by avoiding disclosing personal information on public blockchains.
3. Security: Information security is enhanced by the replacement of ineffective authentication techniques.
4. Scalability: Improves the throughput and scalability of the blockchain.
Key Limitations of the Zero-Knowledge Proof Technology
1. Limited: Most Zero-Knowledge proof methods rely on mathematical calculations and numerical results. Any other approach necessitates the use of a translator.
2. High computing power: Each Zero-Knowledge proof transaction has roughly 2000 computations, each of which takes a set amount of time to complete.
3. Restricted: All associated data is lost if the transaction’s originator forgets their information.
4. Vulnerability: Advanced technology, such as quantum computing may pose a threat.
By Wisdom Oparaocha
Contents distributed by Learn.Block6.tech
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