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Zero-Knowledge Proof (ZK-Proof)
6 months ago
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Finance & Crypto
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A zero-knowledge proof is a cryptographic protocol that enables one person (the prover) to convince another (the verifier) that a particular claim is true without disclosing any details about the claim itself.
ZK-proofs are crucial in the world of cryptocurrencies for improving transaction privacy and scalability. They allow for anonymous transactions without disclosing the particulars of the transaction or the identity of the users.
Cryptographic algorithms based on zero-knowledge proof can be used to enable the verifying party to test the proof in such a way that it would be mathematically impossible to not be factual.
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