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Further informations about the ZK-Proof Technology.
Zero-Knowledge Proofs (ZK-Proofs) are a cryptographic technology that allow one party to prove to another that they know something without revealing any information about what they know.
The concept of ZK-Proofs was first introduced in the late 1980s by cryptographers Shafi Goldwasser, Silvio Micali, and Charles Rackoff. It is based on the idea of zero-knowledge proofs, which is a method of proving knowledge without revealing any information about the knowledge being proved.
ZK-Proofs are achieved through the use of mathematical proofs that verify the truth of a statement without revealing any information about the statement itself. This technology is used to enable privacy in a range of applications, from cryptocurrency transactions to smart contracts.
SpillWays uses ZK-Proofs to enable privacy for its users during transactions by proving the validity of the transaction without revealing any information about the sender or receiver. SpillWays also utilizes a specific type of ZK-Proof called zk-SNARKs in combination with commitment schemes to further enhance privacy.
We use ZK-Proofs to ensure the privacy of our users during transactions. By utilizing zk-SNARKs and commitment schemes, the protocol is able to prove the validity of transactions without revealing any information about the sender or receiver, ensuring privacy for both parties. Here is a diagram explaining visually how ZK-Proofs work :
Visual representation of how ZK-Proofs work.