Ethereum Advances Blockchain Privacy With zk-SNARK Upgrade

"IT’S A BIT LIKE THE EARLY DAYS IN ETHEREUM – IT'S NOT CLEAR WHAT WILL HAPPEN, BUT EVERYONE CAN SEE THE POTENTIAL"

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Zcash researcher, Andrew Miller, spoke today at ethereum’s Devcon3 in Cancun, Mexico about privacy advancements such as zero-knowledge Succinct Son-interactive Arguments of Knowledge (zkSNARK) made possible by the latest software upgrade.

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This technology is most famously used by the zcash network.

Since then, developers have tried to incorporate the privacy feature into ethereum.

These advancements in cryptography on the ethereum blockchain are being praised not only for their privacy features, but for scalability as well.

Jacob Eberhardt
Jacob Eberhardt

“It’s a bit like the early days in ethereum – it’s not clear what will happen, but everyone can see the potential,” said Jacob Eberhardt, author of ZoKrates.

Want to learn more about zkSNARKs? Click the image above.

Eberhardt has invented a zk-SNARK compiler that will allow designers to produce zk-SNARK- implanted smart contracts.

There are some downsides to this technology though.

One shortcoming being that the computations for zkSNARKs are pricey. About 92 times more expensive in comparison to the zcash equivalent.

Ethereum being 1,933,895 gas compared to a non-private transaction costing around 21,000 gas on zcash.

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