Unlock Bitcoin’s Potential with ZeroKnowledge Proofs Via Satellite!
• Blockstream, a Bitcoin infrastructure firm, and ZeroSync Association have partnered to broadcast Bitcoin zero-knowledge proofs via Blockstream’s satellite.
• ZK-proofs can help enhance Bitcoin’s scalability, privacy and security.
• ZeroSync intends to carry out a trial broadcast involving Blockstream’s satellite hardware before the end of the year.
Blockstream & ZeroSync Association Partnership
Bitcoin infrastructure firm Blockstream has partnered with ZeroSync Association, a non-profit organization based in Switzerland, to broadcast Bitcoin zero-knowledge proofs via Blockstream’s satellite. This partnership will allow Bitcoin nodes to sync from any location on earth quickly instead of taking hours or days. The trial broadcast of this new technology is planned for the end of 2020.
What are ZK-Proofs?
Zero-knowledge proof (zk-proof) is a cryptographic technique that enables transactions to be carried out in a confidential manner while providing enhanced scalability, privacy and security for blockchain networks like Bitcoin. In zk-proofs, multiple transactions are combined into a single proof which reduces the computational load on the network by reducing data processing and storage requirements.
Benefits of ZK-Proofs
ZK-proofs can help improve the privacy and security of blockchain networks as only those involved in the transaction have access to transaction details. Additionally, it increases scalability as fewer data needs to be processed when multiple transactions are combined into one proof.
Trial Broadcast Planned for End 2020
ZeroSync intends to carry out a trial broadcast involving Blockstream’s satellite hardware before the end of 2020 in order to demonstrate how this new technology can benefit users around the world even in places with poor internet coverage.
Conclusion
The partnership between Blockstream and ZeroSync Association promises to bring improved scalability, privacy and security for users on blockchain networks through zero knowledge proofs (zk-proofs). A trial broadcast is planned before the end of 2020 in order to test this new technology globally across all types internet connections including those with unreliable coverage.