Even as cryptographic methods gain popularity on the Ethereum blockchain, the ZeroSync Association is working to bring zk-proofs to Bitcoin network. zk-proofs is short for Zero-Knowledge proofs.
According to various reports, the cryptocurrency investment firms Geometry Research and StarkWare Industries have provided financial support to the Swiss non-profit group known as ZeroSync.
The recently established organization already possesses an operational prototype that enables users to validate the Bitcoin blockchain’s current status and transaction history.
The prototype developed by ZeroSync accomplishes this without requiring the user to either download the complete chain or rely on a third party.
The prototype for ZeroSync’s Bitcoin zk-proofs can check Bitcoin consensus rules but cannot validate Bitcoin transaction signatures. In addition to that, the prototype appears to be slow and still has to be optimized for both speed and security.
In spite of these restrictions, the most important thing to take away from the development of the prototype is that it is functional.
At a media event (1), ZeroSync co-founder Robin Linus offered the following explanation in response to a question about the Bitcoin zk-proof prototype:
“For now, we’re still working on the prototype. However, the larger goal is to download that one megabyte MB of proof, which is as good as if you had downloaded the entire 500 gigabytes.
Linus Torvalds stated the following in response to a question regarding the capability of ZeroSync to validate transactions using cryptographic proof as opposed to merely trusting honest nodes, as was indicated by the anonymous Bitcoin developer Satoshi Nakamoto:
“There is no obligation to trust; in fact, that is the whole point. The evidence demonstrates it beyond a reasonable doubt; this is the most significant innovation.
The idea of simple payment verification (SPV) nodes, which may be found on the Bitcoin blockchain, was brought forward by Satoshi in the Bitcoin white paper.
The developer of Bitcoin, who prefers to remain anonymous, has stated that using these nodes is crucial for compact devices such as mobile phones, which cannot download the complete blockchain. When asked about the dependability of the verification process, Satoshi’s response at the time was, “Verification is trustworthy as long as honest nodes dominate the network.”
On the other hand, the author of the white paper that describes Bitcoin also mentioned that a cyberattack might undermine the verification procedure on the network.
StarkWare programming language forms the Basis of ZeroSync zk-Proofs
Cairo is a programming language that StarkWare enables, and ZeroSync is using it for the first edition of its software.
Louis Guthmann, the ecosystem lead at StarkWare, weighed in on the potentially transformative effects that ZeroSync could have on the Bitcoin blockchain.
Guthmann stated, “ZeroSync is the first operational attempt to enhance the Bitcoin protocol substantially.” That would bring about a fundamental shift in the way individuals think about the system.
The zk-proof crypto technique has created a developer tool kit, making it easier to implement applications on exchanges like proof-of-reserves.
Moreover, ZeroSync aims to enable the compression of transaction histories on second-layerL2 protocols such as Lightning Labs’ Taro.
Cryptography is utilized in zero-knowledge proofs so that the correctness of the information can be demonstrated without the actual information being disclosed.
The validation of the Bitcoin network through the use of zk-proofs results in nodes syncing instantly, as opposed to needing hours or days to download large amounts of data.
zk-Proofs on the Ethereum Blockchain
In the Ethereum network, the use of zk-proofs has seen a meteoric rise in popularity, and the recently released Polygon zkEVM Beta is a prime example of this trend.
According to reports from yesterday, the Polygon zkEVM Mainnet Beta made reduced gas prices available to users of decentralized applications (dApps).
In addition, the release disclosed that Vitalik Buterin, a co-developer of Ethereum, will be the one to complete the first transaction using the beta version of the zk Virtual Machine.