Blockstream, a Bitcoin infrastructure company, has teamed up with ZeroSync Association, a Swiss non-profit, to broadcast Bitcoin zero-knowledge proofs via satellite.
Because of this collaboration, Bitcoin nodes may synchronise from anywhere on the planet, even in areas with spotty connectivity, in milliseconds rather than days.
As announced today, Adam Back, CEO of Blockstream, has agreed to work with ZeroSync to broadcast ZK chain proofs via Blockstream Satellite, according to a recent Tweet by @ZeroSync. In light of the latest information, ZeroSync plans to test broadcast using Blockstream’s satellite equipment before the end of the year.
By broadcasting the blockchain via satellite, Blockstream enables universal, free Bitcoin access even in regions with spotty internet service.
The ZeroSync Association, founded by three German computer scientists, is a new non-profit organisation to help Bitcoin scale by adopting zero-knowledge proofs (zk-proofs), a cryptographic approach that has seen explosive growth in popularity on competing network Ethereum.
According to the company’s website, “ZeroSync is leading the charge in creating Bitcoin’s proof systems.” Using innovative cryptography, we are forging ahead with Bitcoin’s future scalability, interoperability, and privacy.
A zero knowledge proof is a method used in cryptography whereby a claim can be proven true without the claim’s subject matter ever being revealed.
The verifier of a zero-knowledge proof will require the prover to carry out a set of steps that can only be completed successfully if the prover has access to the secret information.
Bitcoin’s Privacy and Security, and How Zk-Proofs Can Improve Them
ZK-proofs can make Bitcoin more private and secure because they allow transactions to be conducted to ensure only the transaction participants know what was exchanged.
The quantity of data that must be processed and saved on the blockchain is reduced because of zk-proofs, which improves Bitcoin’s scalability.
One way to accomplish this is by “batching,” combining several separate transactions into a single proof. On their website, ZeroSync claims:
Brief zero-knowledge proofs (ZKP) provide great potential for improving the privacy and scalability of blockchain networks. Significant engineering work is being done in the Ethereum community to implement this technology, but no comparable investment has yet been made in the Bitcoin network.
ZeroSync has built a working prototype that verifies the state of the Bitcoin blockchain, including ownership information and past transactions, without requiring users to download the entire 500 GB chain.