Zero-Knowledge Proofs

Zero Knowledge (ZK) proofs are disruptive technology for anonymous payments in crypto currency.

Here are some links to applications of zero-knowledge proofs in crypto currency.

  1. ZCash is now live. It is slow and expensive yet promised for a great future.
  2. ZCash was built from erlier ZeroCoin system. An older lecture about ZeroCoin by Matthew Green.
  3. ZK proofs: how to prove equality of plaintexts [by Jonathan Bootle, UCL].
  4. ZK proofs allow to build so called confidential transactions (CT).
  5. ZK proofs are potentially not necessary to build an anonymous crypto currency.
    A major alternative is CryptoNote protocol and Monero which uses ring signatures and not Zero-Knowledge proofs, and which does not yet achieve perfect anonymity, for example it does not (or does not yet) protect the transaction amounts (see Table 1 here).

In my opinion wide adoption of truly anonymous crypto currency is unlikely. On the other side, bitcoin anonymity is very poor. A middle ground needs to be found.

 

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  1. Pingback: How Islamic State Terrorists Encrypt Their Messages | Financial Cryptography, Bitcoin, Crypto Currencies, Cryptanalysis

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