Polygon – Upskilltym- Blockchain Learning Platform

In the last blog blog we have seen all basics about zero knowledge proof. Now here we are going to know about its features and real world use cases then might be we will know whole scenario about zero knowledge proof. So be ready to take ride into realm of privacy security and impossible possibilities.FeaturesAnonymity- Anonymity is very basic feature of blockchain. Making transaction between two parties without exposing real life identity is expected anonymity feature. This can be achieved in ZKP (Zero knowledge proof).Example Hyperledger fabric (v 1.2) support to zkp protocol.Sharing personal information securely-Let’s consider scenarioSolution to this problem is Bank need not to know about other details of the customer and even need not to know about upper limit of his income also.It is enough to know that either he can earn minimum amount required to repay loan amount or not.And this scenario is achieved by zero knowledge proof protocol. now enough for bank to know only about guaranty of repayment.Example hyperledger Indy3. Privacy enhancing technology- ZKP helps to different businesses for protecting their data. It enable secure communication without sharing original information.4. In any deal receiver of payment party get authority to verify whether sending party have sufficient balance in his account or not. Again this verification is carried out without knowing account balance of sender.LIVE Examples:cryptocurrency Zcash is based on Zero-Knowledge Succinct Non-Interactive Argument of Knowledge (Zk-SNARK)Zero-Knowledge Scalable Transparent Argument of Knowledge (zk-STARK) is used in the Ethereum blockchain and provides privacy and scalability.Zero knowledge Roll-ups (Zk-Rollups)-bundle a thousands of transactions into batches that executed off chain and only summery of that transaction is submitted. Zero knowledge protocol is used for validityLoopring - It is Ethereum’s very first Zk-rollups layer 2 scaling protocol. No any person, company or state can come between a user and their Ethereum-based assets.Validium --- validium is scaling solution processing more than 9000 Transaction Per Sec. it gives validity proof like zk rollups. validity proof of validity is in the form of either Zk-SNARK or Zk-STARK by providing highest security about information.ZK-Synk- EVM Compatibility zk rollup. Zk-Sync is a scaling and privacy engine for Ethereum. Zk-synk is friendly for exchanges.Immutable X – It is layer 2 solution for scaling with 9000 TPS(Transaction per second). Widely used in NFT’s and web3 game platform.StarkEx – Uses ZK-Stark technique for validity proof.It is mature platform deployed on mainnet of Ethereum since 2020. Many applications are using starkEx platform for spot trading like Immutable X, sorare, Myria, ApeX pro etc. starkEx provide three mode for user regarding dataZK-rollup modeValidium modevolition mode-this is for choosing above two modesStarknet-- Uses ZK-Stark technique for cryptography. It is decentralized validity rollups. Layer 2 solution that execute transaction off chain and then send them to main chain with validity proof. Papyrus is open source Staknet’s Full node.Aztec -Open-source L2 network built on the Ethereum network. Privacy and then scalability is main focus in Aztec. Aztec uses ZK-SNARKs to scale transactions and increase the financial privacy of users. Polygon Hermez -ZK rollup operating atop the Ethereum blockchain. Polygon Hermez uses ZK-SNARKs to power secure and low-cost(reduces transaction cost by 90% than ethereum) token transfers and payments. It has proof of donation consensus mechanism run by coordinators which manages batch of transaction using utility token HEZ.ZKSpace-ZK rollup project based on ZK-SNARKs. ZKSpace offers Ethereum users lower gas fees and faster transactions.dYdX --Ethereum-based ZK rollup project which doubles as a decentralized exchange offering crypto users and traders fast and low-cost trading, borrowing, and lending. dYdX uses STARK proofs as part of its security mechanism.Polygon Miden--It is a polygon version of starknet. It is a STARK-based ZK rollup with EVM compatibility. Although still in production, Polygon Miden allow developers to migrate Ethereum-native dApps to enjoy scalability on the L2 network. It solves state bloat problem.The power of zero-knowledge proofs lies not only in their cryptographic feature but also in their ability to shape a world where privacy, trust, and security are the base.Remember, the world is full of mysteries, but with zero-knowledge proofs, you can unlock the answers while preserving the magic of the unknown. Facebook Twitter Linkedin Whatsapp

Tag: Polygon

Zero Knowledge Protocol Features And Use Cases

Zero Knowledge Proof

Supercharging Ethereum Beyond Limits: A Comprehensive Exploration of Layer 2 Scaling Solutions for Scalability

Quick Link

Resources