WHAT ZERO KNOWLEDGE PROOF IS AND ITS ROLE in BLOCKCHAIN

WHAT ZERO KNOWLEDGE PROOF IS AND ITS ROLE in BLOCKCHAIN

The number of fraudsters has increased with the development of technology. Maintaining security protocols is a key task in order to ensure transactions are secure. Blockchain is a promising innovation, but we still need to maintain security in transactions. Zero-Knowledge Proof, or ZKP, is a good choice in such situations.

A blockchain platform uses cryptographic techniques to make transactions completely secure. Since its inception, cryptography has been closely associated with blockchain. The combination of cryptography and blockchain has been a popular choice since ZKP was launched. The combination of cryptography and blockchain has created a secure mode for financial transactions.

What is Zero-Knowledge Proof and what are its implications?

Zero-Knowledge Proof (or Zero-Knowledge Proof) is a cryptographic technique that does not reveal any information during transactions, except the exchange of some value to the prover and the verifiers (the other ends of the transaction). The zero-knowledge proof allows users to prove that they have an absolute value, without having to reveal any additional information.

These are the three intrinsic properties of ZKPs:

Completeness

The property of completeness indicates that the transaction has been verified and that the prover can proceed with the transaction. The verifier can then authorize the prover to enter the transaction if the transaction statement is true.

Soundness

The property of soundness means that the transaction is completely correct and not part of any fraudulent case. This means that the verifier can't be convinced if the transaction is not correct or the statement is incorrect. In such a situation, the verifier can't certify or allow the prover to request the inputs.

Zero-knowledge

The verifier can only have the current statement and whether or not the authenticity of the statement is true or false. All other information or private data from different parties will be kept secret.

What are the two basic types of Zero-Knowledge Proof proof?

These are the two basic types of ZKPs:

Interactive ZKP

Interactive ZKPs require that the prover completes a series of actions in order to convince the verifier of a particular fact. These actions deal with mathematical probability. Interactive ZKP requires that a prover convinces a particular verifier, and then repeats the process for each verifier.

Non-Interactive ZKP

Non-interactive ZKPs have no voluntary interaction between the verifiers and the prover. Non-interactive ZKPs have a prover who creates proof that anyone can verify. The verification process can also move to a later stage. They need specific software to make non-interactive ZKPs more efficient.

Endnote

KPIs offer great potential for cost savings and privacy protection. It is also very easy to use and the technology that supports ZKPs is extremely efficient. You can reap the benefits of the new-generation ZKP without spending a lot. Get in touch with our ZKP experts at an enterprise level to learn more about ZKPs.

Click here for more details: https://www.leewayhertz.com/zero-knowledge-proof-and-blockchain/


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