Blockstream, a company that specializes in Bitcoin infrastructure, has formed a partnership with ZeroSync Association, a non-profit organization with its headquarters in Switzerland, in order to broadcast Bitcoin zero-knowledge proofs via Blockstream’s satellite.
Because of this collaboration, Bitcoin nodes will be able to synchronize in a matter of milliseconds rather than hours or days, and they will be able to do it from any point on the planet, including areas with spotty internet connection.
“Today, we are humbled to share the news that Adam Back, CEO of Blockstream, has decided to collaborate with ZeroSync to broadcast ZK chain proofs using Blockstream Satellite!” In a recent tweet, ZeroSync made the following statement.
In light of the most recent information, ZeroSync plans to conduct a test transmission using Blockstream’s satellite gear before the end of this year.
Blockstream’s satellite network is able to enable free global access to Bitcoin by broadcasting the blockchain to the whole earth. This includes regions of the world that have spotty or no internet connection.
ZeroSync Association is a recently established charitable organization that was founded by three German computer scientists. Its goal is to help Bitcoin grow by putting in place zero-knowledge proofs, also called “zk-proofs.” These are a type of cryptography that has become very popular on the competing chain Ethereum.
On the website of the company, it is said that “ZeroSync is leading the charge in the creation of proof systems for Bitcoin.” “We are paving the ways for the future of Bitcoin scalability, interoperability, and privacy by applying ground-breaking cryptography,”
A zero-knowledge proof is a method used in cryptography that enables one party to prove to another party that a particular statement is true without disclosing the statement itself. This approach is called zero-knowledge proof.
At a high level, a zero-knowledge proof functions by having the verifier ask the prover to carry out a series of actions that can only be performed accurately if the prover knows the underlying information. This allows the verifier to validate the prover’s claim without the prover having to reveal any of their knowledge.
The Contribution That Zk-Proofs Can Make Towards Increasing Bitcoin’s Privacy and Safety
ZK-proofs have the potential to make Bitcoin more private and safe. This is because the technology behind them enables transactions to take place in a manner that is kept confidential, and only the individuals involved in the transaction are able to view the specifics of the transaction.
Also, zk-proofs have the potential to improve Bitcoin’s scalability by lowering the quantity of data that has to be processed and stored on the blockchain. This will allow Bitcoin to accommodate a greater number of users.
This is accomplished by a method known as “batching,” in which numerous transactions are bundled into a single proof in order to reduce the amount of computing effort that is required by the network. On its website, ZeroSync states the following:
“Succinct zero-knowledge proofs, also known as ZKP, promise to bring about a paradigm shift in the scalability and privacy of blockchain technology. While the Ethereum community is making significant engineering efforts to implement this technology, no comparable investments have been made in the Bitcoin network as of yet.
Notably, ZeroSync has been successful in developing a functional prototype that does not require users to download the chain’s current 500 GB of data in order to authenticate the current state of the Bitcoin blockchain. This allows users to authenticate the current state of the Bitcoin blockchain, including ownership data and transaction history.
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