Ryodan System AG started a joint technology development and demonstration project with Fore- co.,ltd, a data analysis company that develops algorithms and vector processors
Ryodan Systems AG (Head Office: Switzerland, CEO: Leona Hioki) and Fore- co.,ltd(Head Office: Chiyoda-ku, Tokyo, CEO: YutoTanaka) announce a partnership for joint technological development.
Based on this partnership, we will accelerate the development of the zkRollup protocol based on zero-knowledge proofs and build a decentralized application layer that both protects confidential information and speeds up verifiable computation.
The importance of zero-knowledge proofs is increasing
Many distributed ledger networks, including blockchain, are limited in the amount of data they can process at any one time and therefore suffer from problems such as high transaction fees and delays in the transaction approval process as transaction volume increases.
In principle, public blockchain data is stored publicly and transparently, so even information that is desired to be kept secret, such as contracts for commercial transactions and personal information, is made public. Therefore, the usecases of blockchain technology have been quite limited.
Around 2018, a trend to use zero-knowledge proofs (a method of proving the legitimacy of information without revealing any information) in the blockchain verification process was invented to solve these issues. This has led to the development of a number of protocols to speed up the verification process while protecting confidential information.
Zero Knowledge Proof has the following advantages:
1. Protection of confidential information.
Since results derived from certain facts can be proven without revealing the underlying facts, the process of transaction verification can be performed without indexing personal information or confidential information such as contracts related to business transactions.
2. Faster Verification
Because verification that a certain computation has been performed correctly can be performed faster than re-running such computation, it is possible to serve as a prover or verifier even in a usage environment with limited computing resources, (e.g. limited processing speed, storage capacity, and communication capacity).
About zkRollup provided by Ryodan Systems
Ryodan Systems has been involved in the development of the zkRollup protocol, a verification technology based on zero-knowledge proofs. The company’s protocol (Intmax Rollup) reduces the computational cost by 95% compared to other zkRollups by performing most of the verification process for blockchain transaction history off-chain (Layer 2), while keeping a high level of security.
Optimize algorithms from both software and hardware
Protecting the privacy and increasing transaction processing speed with zkRollup is one of the most important technical challenges when dealing with blockchain and other distributed ledger technologies, and in the Layer 2 roadmap published by the Ethereum Foundation, the implementation plan is articulated.
Since optimization of zkRollup’s computing processes is expected to become important not only in the software part but also in the hardware part in the future, we have decided to collaborate on the project that has been working on both software and hardware as their core business.
Fore- co.,ltd has been involved in the development of algorithms in the AI/Big Data analysis area as well as the development of vector processors capable of simultaneously processing a large number of operations.
In the future, by combining Ryodan Systems AG’s world-class zkRollup protocol with Fore-’s high-speed analysis processing technology using vector computers, we will establish an R&D structure that encompasses both the software and hardware domains and work to build a decentralized application layer that both protects confidential information and speeds up verifiable computation.
About Ryodan Systems AG
Ryodan Systems AG is a Swiss-based company developing a zkRollup called Intmax zkRollup, which is expected to be the first zkRollup in the world to combine privacy and scalability at the same time. Ryodan Systems AG has also been awarded a grant from the Ethereum Foundation for 2021.
About Intmax zkRollup: https://medium.com/@intmax/introducing-intmax-zkrollup-92af89c736ac
Website: https://ryodan.systems/
About Fore- co.,ltd
Fore- is a data analytics company that develops algorithms and vector processors in the AI/Big Data analytics domain. The core technology — Trend Forecast Engine — facilitates data-driven decision-making by rapidly aggregating and integrating highly siloed data on human behavior, preferences, and shifting trends.
Website: https://www.fore-co.ltd/
