Zero-Knowledge in DeFi

Zero-Knowledge systems represent powerful, foundational technologies that hold the keys to blockchain scalability; represent the future of privacy-preserving applications within (and beyond) crypto/web3; and will be a key feature of countless innovations to come.??

What is zero-knowledge proof?

Zero-Knowledge Proof (ZKP) is a method that allows one party (the prover) to cryptographically prove to another party (the verifier) that they have “X” knowledge, without revealing the underlying information. In other words, in a zero knowledge test what I do is convince you that I have knowledge about something but without revealing that knowledge, or how I got to it.

From a more technical perspective, zero-knowledge protocols are probabilistic evaluations, meaning they don't prove something with complete certainty. Instead, they provide tiny, unlinkable bits of information that can be stacked together to show that the validity of a claim is likely.

Zero-Knowledge Proof can foster a new wave of public blockchain adoption with enhanced privacy for users and institutions alike.

What are the applications of ZKP use?

Possible applications of use for zero-knowledge proofs include:

1. Confidential transactions on blockchains: The transaction data is cryptographically encrypted, and a proof is published to show that it was calculated correctly.
2. Complex Documentation: The combination of ZKP and blockchain allows users to securely share complex documents. ZKPs have the potential to encrypt data in pieces, allowing users to control certain blocks and the visibility of the information contained within them, thereby allowing access for some users while restricting access for others.
3. Privacy Preserving Verification: A tester presents zero-knowledge proof to a verifier without providing access to private financial records.
4. Messaging apps: Traditional messaging apps require users to verify their identity on a server. With ZKP a person can prove his identity without revealing additional personal information.

Advantages and disadvantages

Advantage:

• Privacy: Increases user privacy by preventing the disclosure of personal information on public blockchains.
• Security: Strengthens information security by replacing ineffective authentication methods.
• Scalability: Increases the performance and scalability of the blockchain.

Disadvantages:

• Limited: Protocols for ZKP are generally based on mathematical equations and numerical answers.
• It requires a large amount of computing power: there are around 2000 calculations per ZKP transaction and each one requires a certain amount of time to process.
• Restricted: If the originator of a transaction forgets their information, all data associated with it is lost.

Koryntia: Zero-Knowledge in DeFi

Yes, we think in non-technical terms, we would think of new blue oceans.

New horizons that do not have patterns conceived for a society adapted to a world created to have habits that benefit a minority without being aware that they are the basis that make up the machine.

Let's have the recent example:

• The banks of Lebanon are the conceived pattern.
• Citizens are the basis for the machine to work.

When the banks break this pattern, the citizens wake up (are aware) of a pain that they did not have before, because everything was within their reality.

I know that I am talking about a deep topic, I try to write this idea, to do a little better than if new alternatives to the traditional world are possible.

Koryntia works with this approach, we must reflect outside the box to originate the vision that we want to help millions of people around the world, technology does not lie, it is not corrupt, and you can be the owner of your future, not like now that you would be in second position, we want you to be the first.