Due to the public nature of the blockchains, the data is a privacy risk. This is because anyone can access data on the distributed ledger. For instance, you just need a wallet address to access the wallet history on Ether Scan. Hence, there is no privacy of your data. But, here comes zero-knowledge (ZK) proofs to the rescue and protect users against data theft in today’s open-source digital world. ZK proofs allow public blockchain users to demonstrate that they have certain information without revealing it because of the inherent cryptographic proof. In this article, we will discuss zero-knowledge (ZK) proofs and their significance in today’s blockchain-powered world. Characteristics of Zero-Knowledge Proofs The characteristics of zero-knowledge proofs are explained below: Completeness: An honest prover can persuade a verifier that they know the proper input if a statement is true. Zero-knowledge: If the statement is correct, the verifier simply knows that the statement is accurate. Soundness: If a statement is untrue, no dishonest prover can persuade an honest verifier that they are aware of the correct input on their own. Working of Zero-Knowledge Proofs: An Example It can be difficult to grasp the concept of ZK proofs. Let’s use the game of Where’s Waldo to illustrate this. Assume you’re playing a game of Where’s Waldo. In a sea of characters, you must look for Waldo. You’ve located Waldo and now want to persuade a friend t...
