Altszn.com
  • Home
  • Crypto
    • Altcoins
    • Bitcoin
    • Ethereum
    • Monero
    • XRP
    • Zcash
  • Web3
  • DeFi
  • NFTs
No Result
View All Result
Altszn.com
  • Home
  • Crypto
    • Altcoins
    • Bitcoin
    • Ethereum
    • Monero
    • XRP
    • Zcash
  • Web3
  • DeFi
  • NFTs
No Result
View All Result
Altszn.com
No Result
View All Result

Chainlink and Zero-Knowledge Proofs: Transforming Privacy

Altszn.com by Altszn.com
October 15, 2023
in Zcash
0
Chainlink and Zero-Knowledge Proofs: Transforming Privacy
399
SHARES
2.3k
VIEWS
Share on FacebookShare on Twitter


Chainlink

  • Zero-knowledge proof technology is gaining traction on privacy-focused subjects.
  • Chainlink is among the protocols developing this unique technology.

As much as crypto enthusiasts are excited about technological advancements and innovation, they are still very anxious about keeping their data and other personal details private. 

These individuals would rather avoid the exploitation of their personal data by governments, corporations, social media platforms, and banks. Hence, the embrace of emerging cryptographic technology is known as zero-knowledge proof. 

“Blockchain tech and ZK-proofs could be used as built-in safeguards … to verify the origin, authenticity, & ownership of AI-generated files,” explains @ChainlinkLabs‘ @Dahlia_Malkhi in this @CointelegraphZN post.

Explore the wide-ranging impact of ZKPs: https://t.co/gYyqz9qlf9

— Chainlink (@chainlink) October 12, 2023

With many outfits like Chainlink developing this tech, it is globally believed that zk proofs can offer both privacy and trust, two factors that are lacking all around the world. According to Polygon co-founder Jordi Baylina, there are several applications for the zk technology including anonymous voting and decentralized games. 

The cryptocurrency and blockchain technology industry is one of the first sectors that opened its doors to the adoption of zero-knowledge proofs. Currently, the cryptographic technology is utilized for scaling Ethereum (ETH) transactions while making sure that they are cheaper and faster. Earlier this year, Polygon (MATIC) began to explore the integration of zk technology into its Proof-of-Stake (PoS) main chain.

>> Buy Chainlink (LINK) quickly and securely with PayPal, credit card or bank transfer at eToro. Visit Website <<

The development was proposed by Mihailo Bjelic, the co-founder of Polygon (MATIC) who believes that the network will receive more advantages while remaining compatible with the Ethereum Virtual Machine (EVM). It would also eliminate reorganizations, and in the long run, pave the way for expedited transaction confirmations for network users.

Multiple Use Cases of Zero-knowledge Proofs 

Markedly, it is believed that beyond this utilization of zero-knowledge proofs within the crypto and blockchain sector. Zero-knowledge can easily prove personal information without having to fully disclose the user’s personal information. It is an efficient tool for fighting against the spread of fake news as it can be used to verify the source of the news.

For example, zk-Proofs could help convince banks that a person’s income is above a certain threshold (to qualify for a mortgage) without actually revealing the individual’s actual income. Also, it could be used to convince the agency in charge of elections that you are a resident or citizen without giving them any form of identity card like driver’s license or passport. In addition, it could be leveraged in the case of electronic voting which the world has been slow to catch up with.

Central Bank Digital Currencies (CBDCs) have been limited by a number of questions surrounding privacy. It is possible that zero-knowledge proof is part of the solution to tackle this problem. 

Noteworthy, zk proofs were first introduced in the 1980s but in recent times, it is fast gaining traction with many people embracing it because of its capacity to fish out false information. There is a current struggle against this misleading information in the wake of AI-altered documents, images and identities. 

In May, Ethereum-based decentralized blockchain network Chainlink adopted the fast-growing cryptographic technology to revolutionize Web3.0. To emphasize the functionalities of the zero-knowledge proof, Chainlink illustrated using a Bob and Alice analogy which demonstrates that transactional partners can now assure themselves of the security of their deal without discussing additional information that may jeopardize their wallets.

Best Crypto Exchange for Everyone

  • Invest in Chainlink and over 200+ cryptocurrencies on America’s most trusted crypto exchange.
  • Buy Chainlink easily and with low fees via PayPal and credit card.
  • Enjoy super-low trading fees and access to more than 400 trading pairs.
  • Coinbase is regulated by the SEC and FINRA in the USA, and by CySEC and FCA in Europe.

100,000,000 Users

Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.





Read More: www.crypto-news-flash.com

Tags: ChainlinkPrivacyproofsTransformingZcashzeroknowledge
ADVERTISEMENT

Recent

Pixelmon Announces Strategic Partnership with Ava Labs to Launch Two Mobile Games Including ‘Warden’s Ascent’ on Avalanche with Dedicated Layer-1

Pixelmon Announces Strategic Partnership with Ava Labs to Launch Two Mobile Games Including ‘Warden’s Ascent’ on Avalanche with Dedicated Layer-1

May 16, 2025
Gamers Hate Crypto, but a New High-Profile Partnership Marks a Shift

Gamers Hate Crypto, but a New High-Profile Partnership Marks a Shift

May 16, 2025
Kaito Rallies 41% as Staked Supply Hits All-Time High

Kaito Rallies 41% as Staked Supply Hits All-Time High

May 16, 2025

Categories

  • Bitcoin (4,836)
  • Blockchain (11,372)
  • Crypto (9,312)
  • Dark Web (545)
  • DeFi (8,376)
  • Ethereum (4,886)
  • Metaverse (7,493)
  • Monero (288)
  • NFT (1,459)
  • Solana (5,038)
  • Web3 (20,665)
  • Zcash (503)

Category

Select Category

    Advertise

    Advertise your site, company or product to millions of web3, NFT and cryptocurrency enthusiasts. Learn more

    Useful Links

    Advertise
    DMCA
    Contact Us
    Privacy Policy
    Shipping & Returns
    Terms of Use

    Resources

    Exchanges
    Changelly
    Web3 Jobs

    Recent News

    Pixelmon Announces Strategic Partnership with Ava Labs to Launch Two Mobile Games Including ‘Warden’s Ascent’ on Avalanche with Dedicated Layer-1

    Pixelmon Announces Strategic Partnership with Ava Labs to Launch Two Mobile Games Including ‘Warden’s Ascent’ on Avalanche with Dedicated Layer-1

    May 16, 2025
    Gamers Hate Crypto, but a New High-Profile Partnership Marks a Shift

    Gamers Hate Crypto, but a New High-Profile Partnership Marks a Shift

    May 16, 2025

    © 2022 Altszn.com. All Rights Reserved.

    No Result
    View All Result
    • Home
      • Home – Layout 1
      • Home – Layout 2
      • Home – Layout 3

    © Altszn.com. All Rights Reserved.

    • bitcoinBitcoin (BTC) $ 104,056.00
    • ethereumEthereum (ETH) $ 2,582.87
    • tetherTether (USDT) $ 1.00
    • xrpXRP (XRP) $ 2.42
    • bnbBNB (BNB) $ 652.63
    • solanaSolana (SOL) $ 171.12
    • usd-coinUSDC (USDC) $ 0.999902
    • dogecoinDogecoin (DOGE) $ 0.227679
    • cardanoCardano (ADA) $ 0.776236
    • tronTRON (TRX) $ 0.272108
    • staked-etherLido Staked Ether (STETH) $ 2,581.99
    • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 104,087.00
    • suiSui (SUI) $ 3.84
    • wrapped-stethWrapped stETH (WSTETH) $ 3,111.70
    • chainlinkChainlink (LINK) $ 16.16
    • avalanche-2Avalanche (AVAX) $ 23.61
    • stellarStellar (XLM) $ 0.297854
    • hyperliquidHyperliquid (HYPE) $ 27.57
    • shiba-inuShiba Inu (SHIB) $ 0.000015
    • hedera-hashgraphHedera (HBAR) $ 0.198561
    • leo-tokenLEO Token (LEO) $ 8.87
    • bitcoin-cashBitcoin Cash (BCH) $ 399.96
    • the-open-networkToncoin (TON) $ 3.13
    • litecoinLitecoin (LTC) $ 101.41
    • polkadotPolkadot (DOT) $ 4.87
    • wethWETH (WETH) $ 2,581.90
    • usdsUSDS (USDS) $ 0.999873
    • moneroMonero (XMR) $ 341.58
    • wrapped-eethWrapped eETH (WEETH) $ 2,759.11
    • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
    • bitget-tokenBitget Token (BGB) $ 4.99
    • pi-networkPi Network (PI) $ 0.802879
    • pepePepe (PEPE) $ 0.000014
    • ethena-usdeEthena USDe (USDE) $ 1.00
    • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 104,016.00
    • whitebitWhiteBIT Coin (WBT) $ 30.25
    • bittensorBittensor (TAO) $ 441.33
    • uniswapUniswap (UNI) $ 6.25
    • daiDai (DAI) $ 0.999979
    • aaveAave (AAVE) $ 233.58
    • nearNEAR Protocol (NEAR) $ 2.87
    • aptosAptos (APT) $ 5.36
    • okbOKB (OKB) $ 53.65
    • kaspaKaspa (KAS) $ 0.120760
    • ondo-financeOndo (ONDO) $ 0.967153
    • jito-staked-solJito Staked SOL (JITOSOL) $ 205.27
    • tokenize-xchangeTokenize Xchange (TKX) $ 36.60
    • crypto-com-chainCronos (CRO) $ 0.100857
    • ethereum-classicEthereum Classic (ETC) $ 19.01
    • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
    • bitcoinBitcoin (BTC) $ 104,056.00
    • ethereumEthereum (ETH) $ 2,582.87
    • tetherTether (USDT) $ 1.00
    • xrpXRP (XRP) $ 2.42
    • bnbBNB (BNB) $ 652.63
    • solanaSolana (SOL) $ 171.12
    • usd-coinUSDC (USDC) $ 0.999902
    • dogecoinDogecoin (DOGE) $ 0.227679
    • cardanoCardano (ADA) $ 0.776236
    • tronTRON (TRX) $ 0.272108
    • staked-etherLido Staked Ether (STETH) $ 2,581.99
    • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 104,087.00
    • suiSui (SUI) $ 3.84
    • wrapped-stethWrapped stETH (WSTETH) $ 3,111.70
    • chainlinkChainlink (LINK) $ 16.16
    • avalanche-2Avalanche (AVAX) $ 23.61
    • stellarStellar (XLM) $ 0.297854
    • hyperliquidHyperliquid (HYPE) $ 27.57
    • shiba-inuShiba Inu (SHIB) $ 0.000015
    • hedera-hashgraphHedera (HBAR) $ 0.198561
    • leo-tokenLEO Token (LEO) $ 8.87
    • bitcoin-cashBitcoin Cash (BCH) $ 399.96
    • the-open-networkToncoin (TON) $ 3.13
    • litecoinLitecoin (LTC) $ 101.41
    • polkadotPolkadot (DOT) $ 4.87
    • wethWETH (WETH) $ 2,581.90
    • usdsUSDS (USDS) $ 0.999873
    • moneroMonero (XMR) $ 341.58
    • wrapped-eethWrapped eETH (WEETH) $ 2,759.11
    • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
    • bitget-tokenBitget Token (BGB) $ 4.99
    • pi-networkPi Network (PI) $ 0.802879
    • pepePepe (PEPE) $ 0.000014
    • ethena-usdeEthena USDe (USDE) $ 1.00
    • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 104,016.00
    • whitebitWhiteBIT Coin (WBT) $ 30.25
    • bittensorBittensor (TAO) $ 441.33
    • uniswapUniswap (UNI) $ 6.25
    • daiDai (DAI) $ 0.999979
    • aaveAave (AAVE) $ 233.58
    • nearNEAR Protocol (NEAR) $ 2.87
    • aptosAptos (APT) $ 5.36
    • okbOKB (OKB) $ 53.65
    • kaspaKaspa (KAS) $ 0.120760
    • ondo-financeOndo (ONDO) $ 0.967153
    • jito-staked-solJito Staked SOL (JITOSOL) $ 205.27
    • tokenize-xchangeTokenize Xchange (TKX) $ 36.60
    • crypto-com-chainCronos (CRO) $ 0.100857
    • ethereum-classicEthereum Classic (ETC) $ 19.01
    • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00