ZKPs part 2
In this part, we'll be looking at zk -SNARKS.
zk-SNARK is a zero-knowledge proof protocol that allows you to prove that you have certain information without disclosing it and without having to prove and verify that information between parties.
The term zk-SNARK is an acronym that stands for Zero-Knowledge Succinct Non-Interactive Argument of Knowledge.
A zk-SNARK allows the sender of a transaction to prove all of this without revealing the addresses or amounts involved. To provide this, the blockchain network encodes some of its consensus rules into her zk-SNARK.
During the transaction process, zk-SNARK transforms the information it proves into equations. These equations can be evaluated and solved without disclosing the information itself.
Advantages and Disadvantages of zk-SNARK
The main advantages of zk-SNARK are privacy and efficiency. It protects sensitive information, takes milliseconds to verify, and does not require extensive interaction between parties. All you need is a message from validator to validator.
zk-SNARK has no obvious drawbacks, but someone with the private key used to set up the protocol could create false evidence and fake funds. Privacy coins using zk-SNARKs must take steps to ensure that no single party has access to their private keys.
