Zero-Knowledge Proof (ZKP)

Hyderabad-based information insights and data analytics company recently introduced ZKP blockchain technology in the country for the first time.

About ZKP:

• ZKP is a cryptographic method that lets someone prove the truth of a statement to another person without sharing any extra details beyond whether the statement is true.
• It protects sensitive information, helps businesses meet tough data privacy rules, and allows the secure exchange of personal data.

Key Components of Zero-Knowledge Proofs:

• Prover: This role involves providing a mathematical proof to show a statement is valid.
• Verifier: This role involves checking the proof to decide if the statement should be accepted or rejected.
• Communication: Zero-Knowledge Proofs typically require several rounds of interaction to confirm the integrity of the information exchanged.

Different Types of Zero-Knowledge Proofs

• Interactive ZKPs: These need multiple communications between the prover and the verifier.
• Non-interactive ZKPs: These require just one message from the prover to the verifier and are popular in blockchain technologies due to their efficiency and ability to scale. Examples include zk-SNARKs, zk-STARKs, and Bulletproofs.

How Do Zero-Knowledge Proofs Work?

• Completeness: If the prover is truthful, they can convincingly demonstrate that a statement is true.
• Soundness: This feature prevents a dishonest prover from convincing the verifier of a false statement.
• Zero-knowledge: The protocol ensures that no extra information is revealed other than the validity of the statement.