Zero-Knowledge Blockchain Development - 2023

Zero-Knowledge Blockchain Development - 2023



Zero-knowledge technology was developed by blockchain software development services. This subset of cryptography helps blockchain projects overcome privacy limitations and scale limitations that many layer-1 chains have. This technology allows Blockchain projects to increase transaction throughput while also protecting user information. It can also verify identities and support complex computations. Additionally, enterprises can adopt Blockchain technology created by blockchain software development services while protecting their intellectual property. These use cases can all be supported by zero-knowledge proofs.


What are zero-knowledge proofs? ZKPs are a way for someone to prove they know or have access to a piece of data without having to reveal the underlying information. A "prover" is someone who uses information from a computer to create a proof. A "verifier" confirms that proof has been correctly calculated, even though they are unable to see it. You can validate a dataset using zero-knowledge proofs without having to reveal any of your data.


Why Zero-Knowledge-Based Networks?



To secure an existing layer-1 crypto-currency such as Ethereum, developers can use zero-knowledge solutions. This allows dApps to scale through the provision of faster transactions and greater throughput. All personal information of users is protected and kept off-chain. Transactions are published in blocks to reduce costs. This allows projects to develop advanced dApps by blockchain app developers that offer comparable functionality and performance to the Web2 system, while still enjoying decentralization's benefits.


Comparison of Zero-Knowledge Solutions and Optimistic Rollups


Optimistic rollups can be used by many scaling solutions. L2Beat analytics shows that optimist rollups account for 74.3% and zero-knowledge solutions for 25.9% of TVL on the Ethereum layer-2 network.


The fundamental difference between optimistic rollups and zero-knowledge scaling solutions is how transactions are verified. Optimistic rollups create fraud proofs when there's a dispute over a state change in the layer-1 blockchain. blockchain app developers develop zero-knowledge solutions that create validity proofs once each batch is published on-chain. The zero-knowledge protocols always have a valid state. This means that they require more gas to verify the validity of the base chains.


Types of zero-knowledge-based solutions


Architecture






Zk-Rollups


Zero-knowledge rollups created by top blockchain gaming companies to combine multiple transactions and post them on layer-1 with proof that the computation was valid. These are proofs that have been published on-chain. These proofs can be SNARKs or STARKs. These proofs can then be verified on layer-1 Blockchain to give zero-knowledge rollup new status.


Validium


Validiums combine validation evidence with off-chain storage to increase scalability. While validity proofs are still available on base chains, data is stored off-chain. This increases throughput and lowers gas prices.


Volitions


Volitions combine ZK-rollups and Valiums. Because they share the same state root, users can choose from any scaling solution. Even if the valium side of the volition were attacked maliciously, funds on the zkrollup side would be protected.


Validity proofs


SNARKS


SNARK stands for "zero-knowledge succinct and non-interactive argument upon knowing." It is simple and easily-verified cryptographic evidence that has been developed by top blockchain gaming companies. Using elliptical curves, SNARKs can create a cryptographic proof. They believe it impossible to calculate the discrete logarithm of an element randomly selected from an elliptic curvature using a publicly accessible base point. Computing elliptic curves are computationally more affordable than computing hashing function using STARKs. This is why SNARK-based protocols are better.


STARKs


STARKS is an acronym for "zero-knowledge transparent argument of Knowledge" and is a cryptographic proof that doesn't require interaction between the verifier and the prover. Due to their faster prover times, STARKs can scale up much more quickly and have higher computing power. Due to their use of hash functions, they are resistant to quantum.


Notable, STARKs was founded by Eli Ben-Sasson, who was also co-founder of StarkWare as well as the StarkEx team which built StarkNet.


Blockchain Projects that are Zero-Knowledge Proven






Projects Based on Zk-STARK


StarkEx


StarkEx, a layer-2 scalability platform built on Ethereum developed by a blockchain development services company, uses STARK Proofs to validate self-custody transactions. This allows trading and payment applications built on top. StarkEx projects such as DeversiFi and Sorare have generated hundreds and millions of transactions and hundreds and billions of dollars in trading volume. StarkEx doesn't support smart contract functionality, which allows fully-featured apps.


StarkNet


StarkNet, a platform for general purposes that allows developers to create smart contracts using an Ethereum-based rollup, is called StarkNet. StarkNet will see the launch of Maker and Aave, both prominent Ethereum dApps. StarkEx zkrollups, which can be launched on top StarkNet, are available to help increase the application's scalability.


StarkWare developed by a blockchain development services company created Cairo, a highly efficient turning programming language to generate STARK proofs. StarkWare must create a developer ecosystem that includes documentation, frameworks and the accompanying tooling.


Immutable X


Immutable X is an NFT platform that allows the trading and minting of NFTs and tokens developed by a blockchain development services company. It uses an application-specific zkrollup with StarkEx. This platform has enabled NFT mints in the millions and trades throughout network congestion periods on Ethereum.


Projects Based on Zk-SNARK


Zcash


Zcash (previously ZeroCash due to the zero-knowledge-proof developed by a blockchain development services company used to support its privacy-preserving transactions) is one of the earliest crypto assets. It was a pioneer in the use of zero-knowledge technology within the industry.


Loopring


Loopring, a DEX built upon Ethereum, supports order book trading without taking ownership of user assets. It is powered by Chainlink Price Feeds and has helped facilitate billions of trading volumes.


Mina


Mina protocol, a lightweight zero-knowledge blockchain project developed by blockchain app development companies, uses SNARKs for small blocks up to 22kb. Mina can be used to build smart contracts-enabled applications.


How Zero-Knowledge Protocols can Increase Security and Decentralization Reliability




Zero-knowledge protocols can strengthen their security and automate applications using reliable and decentralized Chainlink Oracle services. All protocols in the Web3 ecosystem developed by blockchain app development companies have access to Chainlink trust-minimized APIs and can leverage secure off-chain computations to create more advanced applications.


Their dApps can be enhanced with zero-knowledge protocols


  • High-quality market data--Chainlink price feeds are the backbone of the DeFi economy. They provide highly reliable and globally accurate price market data that is used to support decentralized stablecoins and lending and borrowing protocols as well as trading platforms and many other uses.
  • Verifiable randomness--Chainlink VRF generates randomness backed by cryptographic proof, which is then delivered and verified on-chain. This randomness can be used by NFT platforms to generate provably fair mints and blockchain games to create unpredictable gameplay.
  • Smart contract automation--Chainlink Automation is a decentralized service provided by blockchain app development companies that can be used to automatically trigger crucial smart contract functions such as settling limit orders, executing liquidations, rebasing tokens, and more.
  • Proof of reserve-Chainlink Proof Of Reserve automates verification-based cryptographic truth for reserve assets. This enables zero-knowledge protocols that reduce risk, increase transparency, and help to prevent systemic failures of DeFi.
  • Cross-chain communication--The Cross-Chain Interoperability Protocol, (CCIP), provides protocols with a universal and open standard that allows them to create secure cross-chain apps that can send messages, transfer tokens, or initiate actions across Web3.


Conclusion


Along with layer-1 blockchains, decentralized oracle networks developed by blockchain app development companies, and zero-knowledge-proofs, the zero-knowledge-proofs will transform the blockchain industry. ZKP projects can build highly scalable and cost-efficient applications while protecting users' privacy.


Many layer-2 options can provide better architecture for some applications. However, zkrollups valiums and volitions are designed to attract large numbers of users from both individuals and companies. enterprises As the blockchain industry progresses towards mass adoption.

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