Benefits of Zero-Knowledge ProofsBlockchain
Zero-Knowledge Proof in Blockchain
What is Zero-Knowledge Proofs(ZKP)
Zero-knowledge Proof is an encryption scheme proposed by MIT researchers. It is a digital protocol that allows for data to be shared between two parties without the use of a password or any other information associated with the transaction.
It is a type of cryptography that keeps the details of a transaction hidden.
Each transaction has a ‘verifier’ and a ‘prover’. In a transaction using ZKPs, the prover attempts to prove something to the verifier without telling the verifier anything else about that thing.
Benefits of Zero-Knowledge Proofs(ZKP):
- It is simple to use & does not involve any complex encryption method.
- It does not require anyone to reveal any sort of information
- The messages delivered might be destroyed or modified.
- It should reveal nothing else to the verifier.
- It ensures the validity of blockchains.
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Where to Implement ZKP in Blockchain System?
- Messaging: With the Zero Knowledge Proof, will be able to build an end-to-end trust in the messaging world without leaking any extra information.
- Authentication: ZKP facilitates transmitting sensitive information like authentication information with better security as It build a secure channel for the users to employ their information without revealing it.
- Sending Private Blockchain Transactions: It helps in making it impossible to hack or intercept the private blockchain transactions.
- Security for Sensitive Information: ZKP adds a high-end security level to every block containing sensitive information & when a user requests for information then only information gets disclosed thus making it protected.
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