Cryptocurrency Q&A Does zero-knowledge proof exist?

Does zero-knowledge proof exist?

Valentino Valentino Tue Aug 13 2024 | 6 answers 1176
Well, that's an interesting question! Zero-knowledge proofs are indeed a fascinating concept in cryptography and they do exist. But before we dive into the specifics, let me ask, are you familiar with the basic idea behind zero-knowledge proofs? Essentially, it's a cryptographic protocol that allows one party to prove to another that they possess certain information, without revealing any details about that information. The verifier can be convinced that the proof is valid, without learning anything more than the fact that the proof is correct. It's a bit like showing someone that you have the key to a locked box, without actually handing over the key or opening the box. Now, is that what you had in mind when you asked if zero-knowledge proofs exist? Or do you have a specific application or scenario in mind? Does zero-knowledge proof exist?

6 answers

Riccardo Riccardo Thu Aug 15 2024
With spot trading, users can buy and sell cryptocurrencies at current market prices. Futures trading, on the other hand, allows users to speculate on the future price of cryptocurrencies, potentially earning profits if their predictions are correct.

Was this helpful?

112
23
Alessandra Alessandra Thu Aug 15 2024
Zero-knowledge proofs are an advanced cryptographic tool that allows for the verification of a claim without revealing any sensitive information. This technique is particularly useful in the realm of cryptocurrency and finance, where maintaining privacy and security is paramount.

Was this helpful?

71
33
isabella_cole_psychologist isabella_cole_psychologist Thu Aug 15 2024
BTCC's wallet service enables users to securely store their cryptocurrencies, ensuring that they are protected from theft or loss. The use of zero-knowledge proofs in these services can further strengthen security measures, protecting users' assets and personal information.

Was this helpful?

108
46
CryptoEmpireGuard CryptoEmpireGuard Thu Aug 15 2024
Zero-knowledge proofs work by allowing a prover to demonstrate that they possess certain knowledge or information without revealing any details about it. This is achieved through a series of interactive challenges and responses, with the verifier ultimately being convinced of the prover's knowledge without learning any additional information.

Was this helpful?

262
69
Raffaele Raffaele Thu Aug 15 2024
The concept of zero-knowledge proofs was first introduced by Goldwasser, Micali, and Rackoff in their seminal paper, "The Knowledge Complexity of Interactive Proof Systems." This groundbreaking work laid the foundation for the development of zero-knowledge proofs as a powerful tool for secure and private transactions.

Was this helpful?

391
41
Load 5 more related questions

|Topics at Cryptocurrency Q&A

Get the BTCC app to start your crypto journey

Get started today Scan to join our 100M+ users

The World's Leading Crypto Trading Platform

Get my welcome gifts