ZK-SNARK stands for Zero-Knowledge Succinct Non-Interactive Argument of Knowledge. It is a cryptographic method that enables one party to prove to another that they possess certain information without revealing the information itself.In practice, ZK-SNARKs allow for transactions to be validated without disclosing the specifics of those transactions, such as the amount or the parties involved. This enhances privacy while still maintaining security and integrity.The “succinct” aspect means that the proofs generated are very small in size and can be verified quickly, making them efficient for use in blockchains. The “non-interactive” part refers to the fact that the proof can be sent as a single message, eliminating the need for back-and-forth communication between the prover and verifier.ZK-SNARKs are particularly useful for improving privacy in blockchain networks, allowing users to transact anonymously while still ensuring that the network operates correctly and securely. This technology has been implemented in various projects, including Zcash, to enhance user confidentiality.
Avalanche Treasury Co. to Go Public in $675M Deal With Mountain Lake Acquisition
Avalanche Treasury Co. (AVAT), a digital asset treasury company aligned with the Avalanche Foundation, said Wednesday it has agreed to