Zero-Knowledge proofs (ZKPs) are an increasingly popular means of enhancing privacy both in identity and cryptocurrency. The initial zero-knowledge proof ideas were first published in the 1980’s which at the time were dismissed as cryptography that wouldn’t go anywhere. Around that time, David Chaum pioneered the idea of enabling zero knowledge electronic payments. Unfortunately, these ideas came with royalties and patents and thus didn’t see much application. Lately, ZKPs have been applied to various cryptocurrencies as a means of both hiding the transacting parties and the amounts exchanged between them. ZKPs can also be used for shrinking the size of the blockchain so validators and observers can more quickly validate transactions.
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