Real Word Use Cases for Zero-Knowledge Proofs
Zero-knowledge proofs (ZKPs) are a fundamental concept in cryptography that allows one party to prove to another party that a given statement is true without revealing any information beyond the statement’s validity. They are a cornerstone of Web3 infrastructure and vital for mainstream adoption.
Why do we need zero-knowledge technology?
Believe it or not, zero-knowledge proofs have been around for decades. However, limitations in applicability were due to the need for more technology that could serve as viable vehicles for implementation. Blockchain and the more expansive Web3 space have changed this. They hold the best opportunity for the practical use of zero-knowledge proofs. Now, zero-knowledge technology represents an indispensable mechanism in redefining the connected paradigm. Furthermore, they re-instill trust in a world where human interaction and connection are increasingly digital and remote. As such, they are the backbone of Elusiv and provide the encryption to achieve universal privacy in Web3 and beyond.
Use cases for ZKPs
To help contextualize zero-knowledge proofs, we have provided a high-level overview of use cases that could utilize this cryptographic primitive that will define the future of privacy.
Secure authentication
Using ZKPs, users can authenticate their identity without revealing their login credentials or personal information. To authenticate users without revealing their login credentials or personal information. This is particularly useful for online systems that require secure authentication, such as financial services and healthcare websites.
Digital signatures
Digital signatures powered by ZKPsare secure, private, and verifiable. This allows certain transactions, such as online payments, to be executed without revealing sensitive information about the signer or the transaction itself.
Private transactions
ZKPs can enable private transactions in which the details remain confidential while still proving their validity. This is one of the core features of Elusiv and can significantly influence on-chain privacy.
Access control
They can be used to securely control access to sensitive information, such as medical records and financial information, allowing individuals to decide who has access to their information while ensuring that it remains confidential. For example, with Elusiv, users can generate viewing keys to provide access to specific data that authorities may require without exposing their entire history.
Decentralized Compliance
Web3 suffers from a privacy dilemma, where privacy and compliance have been mutually exclusive. Elusiv utilizes ZKPs to bridge this problem. As a result, decentralized systems can now be inherently private, with mechanisms in place to flag illicit activities without exposing all the individuals in the network.
Privacy-preserving data analysis
Privacy-preserving data analysis leveraging ZKPs would enable data analysis without revealing personal information about the individuals involved. This is useful for applications such as healthcare research and marketing analytics.
The future of zero-knowledge proofs with Elusiv
We are already witnessing ZKPs in action with projects like Zcash and Monero. Their research and application of ZKPs are groundbreaking, but there have been limitations in practicality and usability. In addition, achieving privacy should not come at the expense of safety. For Web3 to go mainstream, comprehensive privacy is critical. Elusiv is part of an emerging wave of projects that bring more applicability to ZKPs, building a suite of tools that tackle both ends of the privacy spectrum.
Experience Web3 privacy with Elusiv
Elusiv is live on Solana Mainnet with an initial feature set that lets users send SOL or SPL tokens privately. The continuous rollout of new features will add even more robust encryption to various actions. To stay updated, follow us on Twitter and join our community on Discord.
