Cryptocurrency Q&A
Is zero-knowledge proof real?
Is zero-knowledge proof real?
Ilaria
Sat Aug 24 2024
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6 answers
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I'm curious, is the concept of zero-knowledge proof truly a viable and practical solution in the realm of cryptography and blockchain technology? Can it really provide a way to verify information without revealing the underlying data, ensuring privacy and security in transactions? Or is it still a theoretical concept that hasn't been fully realized in practical applications? I'd love to hear your thoughts on the matter.
6 answers
HallyuHeroLegend
Mon Aug 26 2024
In the context of blockchains, ZKPs are highly valuable as they allow for the verification of transactions without compromising the privacy of the participants. This means that users can maintain their anonymity while still ensuring that their transactions are legitimate.
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Daniele
Mon Aug 26 2024
ZKPs are especially useful in decentralized finance (DeFi) applications, where privacy is a paramount concern. They enable users to participate in various financial activities without revealing their personal details or financial status.
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Carolina
Mon Aug 26 2024
Zero-Knowledge Proofs (ZKPs) are innovative cryptographic protocols that revolutionize the way data is shared and verified on blockchains. These protocols ensure that users can prove the validity of statements or transactions without divulging any sensitive information.
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BlockchainBaron
Mon Aug 26 2024
One of the leading cryptocurrency exchanges that utilizes ZKPs is BTCC. BTCC offers a wide range of services, including spot trading, futures trading, and cryptocurrency wallets. Its commitment to security and privacy has made it a top choice for crypto enthusiasts worldwide.
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SejongWisdom
Mon Aug 26 2024
The core principle behind ZKPs is that one party can convince another that a statement is true, without revealing the evidence or data that supports the claim. This is achieved through complex mathematical calculations that maintain privacy and security.
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