Crypto Terms:
Letter Z
What is Zk-SNARKS?
Meaning:
Zk-SNARKS -
refers to a proof that enables one group to guarantee it owns particular data without disclosing it.
Let's find out Zk-SNARKS meaning, definition in crypto, what is Zk-SNARKS, and all other detailed facts.
Zk-SNARKs stands for "Zero-Knowledge Succinct Non-Interactive Knowledge Argument." In other terms, a zk-SNARK is a cryptographic proof that enables one group to ensure that it holds specific data without disclosing it. This is accomplished by employing a secret key produced prior to the transaction. It is a component of the protocol for the cryptocurrency Zcash.
Moreover, zero-knowledge indicates that one party wants to prove some statement is true without revealing why it is true. Succinct, on the other hand, refers to that zero-knowledge proof is able to be verified in a few milliseconds, even in the scenario when statements are connected to large-scale programs.
The term "non-interactive" refers to a zero-knowledge protocol in which the prover and verifier have little to no contact. As a result, they can only trade one proof.
Only the proof of the transaction on the blockchain node is being recorded by zk-SNARK, protecting the identity of the sender and receiver, as well as other details associated with the transaction.
In addition, zk-SNARKs may be used to provide a person's identification on a blockchain. For example, if B wishes to confirm A's identity, they can send a hidden message to A, without informing them what it is, and ask A to decode it using their private key. A can then transmit the message back to B, therefore establishing their identification.
When engaging on the blockchain, a user might be required to demonstrate that certain requirements have been satisfied before they may execute a transaction. For instance, they must demonstrate that they have adequate money to conduct a transaction without disclosing how much money they have in their wallet in total.
Overall, developers began working on privacy-focused coins because some people think that the initial cryptocurrencies, such as Bitcoin, lack privacy. The most notable of privacy-focused coins was, indeed, Zcash.
second-layer scaling solution<\/strong><\/a> <strong>that allows blockchains to confirm transactions faster while keeping gas prices lower<\/strong>. Since they mix on-chain and off-chain processes, ZK-rollups outperform typical <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-layer-1-blockchain/">Layer 1 blockchains<\/strong><\/a> like Ethereum.<\/p>\n<p>While the Ethereum mainnet relies solely on on-chain activity to process transactions and confirm blocks, Layer 2 ZK-rollup solutions also include off-chain features. <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-merkle-tree/">Merkle Trees<\/strong><\/a> are one of the key components that allow ZK-rollups to validate transactions more quickly than Layer 1 blockchains do.<\/p>\n<p>Merkle Tree is a mathematical structure that allows blockchains to assure that no one can tamper with data in an on-chain ZK-rollup record. A ZK-rollup is typically made up of two Merkle Trees that are both kept on a <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-smart-contract/">smart contract<\/strong><\/strong><\/a>, or on-chain. The accounts are stored in one tree, while the balances are kept in the other. Any other data that the ZK-rollup generates and uses is stored off-chain.<\/p>\n<p><strong>The off-chain storage of data<\/strong> is one of the reasons why ZK-rollups perform so much better than their Layer 1 equivalents. Merkle Trees contain only the most significant data related to the smart contract. Besides, Merkle Trees are accessed and requested to output data far less frequently than Layer 1 solutions.<\/p>\n<p>The blockchain saves a significant amount of processing power and time as a result of this. Besides, gas prices become lower as less of the blockchain's capacity is used for transaction validation. <strong>This makes Layer 2 solutions, particularly ZK-rollups, a preferable choice for small-time traders.<\/strong><\/p>\n<p>ZK-rollups are becoming more and more popular among developers who want to improve usability, as well as among investors and traders who want to perform transactions faster and cheaper. However, ZK-rollups and Layer 2 solutions are just the beginning of an improved approach to blockchain technology.<\/p>\n<p>In addition, since ZK-rollups use smart contracts to validate the proof of the transactions in Layer 2, it offers several advantages, such as higher transaction throughput and finality time, compared to <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-optimistic-rollup/">optimistic rollups<\/strong><\/a>. The <strong>DeversiFi<\/strong> decentralized exchange and the <strong>Immutable X<\/strong> NFT exchange are a few examples of exchanges that use ZK-rollups.<\/p>","definition":"a Layer 2 blockchain solution that computes and stores data off-chain while keeping funds in a smart contract.","status":"published","meta_title":"What is Zero-Knowledge Rollup? Definition & Meaning | Crypto Wiki","meta_description":"Zero-Knowledge Rollup meaning: Zero-Knowledge Rollup - a Layer 2 blockchain solution that computes and stores data off-chain while keeping funds in a smart contract.","meta_keywords":null}"
:model="{"id":836,"wikipedia_url":"https:\/\/en.wikipedia.org\/wiki\/Non-interactive_zero-knowledge_proof#Blockchain_applications","level":"medium","author_id":1,"created_at":"2023-06-19T06:59:00.000000Z","updated_at":"2023-11-18T16:00:16.000000Z","slug":"what-is-zk-snarks","title":"What is Zk-SNARKS?","section":"Z","keyword":"Zk-SNARKS","content":"<p><strong>Zk-SNARKs<\/strong> stands for <em>\"Zero-Knowledge Succinct Non-Interactive Knowledge Argument.\"<\/em> In other terms, a zk-SNARK is a <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-cryptography/">cryptographic proof that enables one group to ensure that it holds specific data without disclosing it. This is accomplished by employing a <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-private-key-secret-key/">secret key<\/strong><\/a> produced prior to the transaction. It is a component of the protocol for the cryptocurrency Zcash.<\/p>\n<p>Moreover, zero-knowledge indicates that one party wants to <strong>prove some statement is true<\/strong> <strong>without revealing why it is true<\/strong>. Succinct, on the other hand, refers to that zero-knowledge proof is able to be verified in a few milliseconds, even in the scenario when statements are connected to large-scale programs.<\/p>\n<p>The term \"non-interactive\" refers to a zero-knowledge protocol in which the <strong>prover and verifier have little to no contact<\/strong>. As a result, they can only trade one proof.<\/p>\n<p>Only the proof of the transaction on the blockchain <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-node/">node is being recorded by zk-SNARK, protecting the identity of the sender and receiver, as well as other details associated with the transaction.<\/p>\n<p>In addition, <strong>zk-SNARKs may be used to provide a person's identification on a blockchain<\/strong>. For example, if B wishes to confirm A's identity, they can send a hidden message to A, without informing them what it is, and ask A to decode it using their private key. A can then transmit the message back to B, therefore establishing their identification.<\/p>\n<p>When engaging on the blockchain, a user might be required to <strong>demonstrate that certain requirements have been satisfied<\/strong> before they may execute a transaction. For instance, they must demonstrate that they have adequate money to conduct a transaction without disclosing how much money they have in their <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-wallet/">wallet in total.<\/p>\n<p>Overall, developers began working on privacy-focused coins because some people think that the initial cryptocurrencies, such as <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//buy-bitcoin-btc/">Bitcoin, lack privacy. The most notable of privacy-focused coins was, indeed, Zcash.<\/p>","definition":"refers to a proof that enables one group to guarantee it owns particular data without disclosing it.","status":"published","meta_title":"What is Zk-SNARKS? Definition & Meaning | Crypto Wiki","meta_description":"Zk-SNARKS meaning: Zk-SNARKS - refers to a proof that enables one group to guarantee it owns particular data without disclosing it.","meta_keywords":null,"author":{"id":1,"user_id":1,"created_at":"2023-05-03T14:30:55.000000Z","updated_at":"2023-05-11T07:18:20.000000Z","title":"Editor-In-Chief","slug":"aaron-s-editor-in-chief","description":"<p>Having completed a Master’s degree on Economics, Politics & Culture for the East Asia region, Aaron has written scientific papers with a comparative analysis of the differences between US’ Western and Japan’s Collective forms of capitalism, 1945-2020.<\/p>\n<p>With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.<\/p>\n<p>Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.<\/p>\n<p>Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.<\/p>","user":{"id":1,"first_name":"Aaron","last_name":"S.","email":"aaron@bitdegree.org","email_sanitized":"aaron@bitdegree.org","email_verified_at":"2023-12-01T09:40:20.000000Z","must_verify_email":false,"is_registered_with_wallet":false,"status":"active","country":"LT","last_connected_ip":"88.119.132.125","image_id":2641,"referral_token":"05TMu2NysXOCn525","referred_by":null,"created_at":"2023-05-03T14:30:55.000000Z","updated_at":"2024-01-09T15:22:21.000000Z","full_name":"Aaron S."}}}"
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current-chapter="Z"
current-section="what-is-zk-snarks">
