February 14, 2019 at 11:35 AM
Building a Private Currency Service Using Exonum
Zero-knowledge proofs/arguments are an emerging cryptographic technology that promises to bring us closer to the Holy Grail of blockchain: providing data privacy and auditability.
Potential applications for zero-knowledge include, but are not limited to:
Another application for zero-knowledge proofs is helping blockchains scale. ZKPs allow for the “compressing” of computations for blockchain transactions without sacrificing security.
In this article, we describe how zero-knowledge (specifically, Bulletproofs) can be applied to build a privacy-focused service using Bitfury’s Exonum platform.
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Potential applications for zero-knowledge include, but are not limited to:
- Inter-bank transfer systems (see a research paper by Narula et al.)
- Privacy-focused management of digital assets (see a proof of concept by J.P. Morgan and zCash)
- KYC (see a proof of concept by ING)
- Self-sovereign identity (see an attribute-based credentials EU project)
- Voting (see a proxy voting prototype by Russian National Security Depository)
Another application for zero-knowledge proofs is helping blockchains scale. ZKPs allow for the “compressing” of computations for blockchain transactions without sacrificing security.
In this article, we describe how zero-knowledge (specifically, Bulletproofs) can be applied to build a privacy-focused service using Bitfury’s Exonum platform.
