Zero-Knowledge Proofs Go Commercial

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Zero-Knowledge Proofs Go Commercial

We will see an increase in popularity of something called “zero-knowledge proofs,” which allow one side to verify data without conveying any additional information

With all of the hacking scandals that have plagued us in the past several years, we will see an increase in popularity of something called “zero-knowledge proofs,” which allow one side to verify data without conveying any additional information (such as how or why something is true).

It’s a mind-bending approach to security, allowing you to verify your identity without revealing who you actually are. In essence, this eliminates the need for a company to store private identity data during the verification process.

Zero-knowledge proofs aren’t new, but they’re becoming more popular as a method to protect our credit cards and online identities. JPMorgan Chase is using zero-knowledge proofs for its enterprise blockchain system, while cryptocurrency startup Ethereum uses zero-knowledge for authentication.

Irish startup Sedicii now has zero-proof software in the marketplace, and researchers at Microsoft and Princeton University are working on a zero-knowledge proof that would let inspectors identify something as a nuclear weapon without requiring them to take it apart, which risks spreading information about how to build one.