• Zero-knowledge (ZK) proofs have become one of blockchain technology’s most talked about items.
• The Swiss nonprofit ZeroSync Association is developing zero-knowledge proofs for Bitcoin.
• Teams like ZeroSync and StarkWare are competing to optimize and scale zero-knowledge proofs.
What are Zero-Knowledge Proofs?
Zero-knowledge (ZK) proofs enable users to validate the state and transaction history of the Bitcoin blockchain without downloading the entire chain or trusting a third party. It is essentially two parties confirming their identity to each other — without disclosing any other information to a third party who might be watching.
Competition Heats Up
The race is on to secure market share as newly formed ZK developers, such as ZeroSync and StarkWare, optimize and begin to scale the technology for Bitcoin. StarkWare’s co-founder, Eli Ben-Sasson, has extensive research experience in theoretical computer science and has been studying ZK proofs since 2001.
The Swiss non-profit called the ZeroSync Association — based in Zug, Switzerland — is working on developing zero-knowledge proofs for Bitcoin (BTC). The core technology of ZK proofs theoretically enables users to validate the state and transaction history of the Bitcoin blockchain without downloading the entire chain or trusting a third party. Co-founders Robin Linus, Tino Steffens and Lukas George plan to beef up optimization and security of their ZK rollup in the coming weeks.
Optimizing & Scaling
ZeroSync is joined by others in what is an increasingly crowded field of developers interested in privacy, security and access to blockchains. With ZK rollups now overhauling network state validation models, teams are racing to optimize and scale these developments for Bitcoin use cases.
Zero knowledge proofs provide an innovative solution for data privacy on blockchains that could be revolutionary for cryptocurrency use cases going forward. With teams like StarkWare migrating over from Ethereum mainnet development and ZeroSync leading the way with optimizations on BTC mainnet, competition between these projects will only continue heat up as they move closer towards scaling these solutions with real world applications.