Cryptocurrencies

A decade-old research paper has been viewed as a “blueprint” for use

A decade-old paper, seen as a “blueprint” for the first practical use of zero-knowledge proofs (ZK-proofs), has won an award from the Institute of Electrical and Electronics Engineers (IEEE), the world’s largest technical professional organization.

According to an announcement shared with Cointelegraph, the “Genesis Paper” – “Zerocash: Decentralized Anonymous Payments from Bitcoin”Assist It paves the way for ZK proofs in cryptocurrencies and has now received the “Test of Time” award at the IEEE Symposium on Security and Privacy.

“The award recognizes the broad and lasting impact of the paper on both research and practice in the field of computer security and privacy,” StarkWare wrote in a statement.

Screenshot of the white paper. Source: ieee.org

The research, which has 2,400 academic citations, did not transform funding but paved the way for the proliferation of projects using ZK proofs, the company added.

It also provided the first practical use of encryption technology in cryptocurrency to enhance privacy.

The award goes to the publication’s authors: Alessandro Chiesa, Cristina Jarman, Matthew Green, Ian Myers, Eran Trummer, Madras Verza, and Elie Ben-Sasson. Ben Sasson founded StarkWare to scale blockchain.

“The award reminds us that looking back, this paper was the moment when ZK was put on the blockchain research agenda,” Ben-Sasson said, adding that it was the moment that “kick-started the ever-growing fascination with blockchain.” How cryptocurrencies can help become the technology we all need.”

Related: Vitalik Buterin analyzed “Binius” as a way to speed up zero-knowledge proofs

The paper described the use of zero-knowledge shorthand non-interactive arguments (zk-SNARKS) to create a private payment protocol called Zerocash, which hides the origin, destination, and number of transactions.

ZK Proofs are now a commonly used technology for Ethereum Layer 2 solutions to prove the authenticity of on-chain data without revealing what specifically that data consists of.

They can help with scalability by enabling techniques such as trustless aggregation and verification of large amounts of off-chain data. Leading Layer 2 networks currently using ZK proofs include StarkNet, Linea, zkSync Era, Scroll, and Polygon.

On May 14, Cointelegraph reported that regulators are cracking down on privacy protocols. However, ZK-proofs can offer solutions by maintaining privacy while ensuring that funds are not sent to sanctioned entities.

Ben Sasson told Cointelegraph that privacy is the priority. “To support this, we will be adding ZK capabilities to our Stwo installer, which will allow developers to have a more scalable version of creating Zerocash on Starknet (and Ethereum).”

In April, Big Four accounting firm Ernst & Young launched an Ethereum-based solution using ZK-proofs to help its private corporate clients facilitate complex contracts.

Magazine: Big Questions: What does Satoshi Nakamoto think about ZK proofs?

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