Zero-knowledge proofs - The first ray of hope to make #web3 transactions private while being secure and transparent

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Basic concept - Proving something is true while allowing you to hold back the actual information being proved

Example - revealing that Apple is red without showing the Apple

DrawBack - Not an air-tight proof.
Can only minimize the probability of fault by repeated actions

2 Types

1. Interactive - Prover performers a series of actions to convince the verifier of a certain fact

2. Non-Interactive - Anyone can verify by themselves and hence the proof is transferable - used in zkSnarks

Innovation to make Zero-Knowledge usable by #blockchaintechnology
1. Decrease the size of Zk-proof
2. Reduce the time taken to generate the proof
3. Universal verifier to prove it all
4. Reduce the computation to generate zk-Proofs

Problems Zero-Knowledge solves
1. Security and Privacy
2. OnChain Verifiability

Currently being used

@zcash - Prrivate Blockchain Trx
@StarkWareLtd - Making L2 scaling solutions
@aztecnetwork - In making private #Ethereum transactions

And many more...