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zk-SNARK

zk-SNARK
InvestingCryptoCryptocurrencyAltcoins

"Zero-Knowledge Succinct Non-Interactive Argument of Knowledge" - an approach to zero knowledge proofs.

Features

  • This proof was first developed and presented in the late 1980s, and is currently employed by the cryptocurrency Zcash to tackle a perceived secrecy problem with Bitcoin-type blockchains.
  • Zk-SNARK is a zero-knowledge proof protocol utilized in encryption, and is an abbreviation that means "Zero-Knowledge Succinct Non-Interactive Argument of Knowledge."
  • Zk-SNARK proofs depend on an initial "trust framework" setup that has been studied as an inherent security flaw.