Zero-knowledge tech development heats up amid bear market
Join us on social networks Zero-knowledge (ZK) proofs, or cryptographic methods that allow one party to prove to another party that something is true without revealing any sensitive underlying private information, have been a hot topic of discussion among crypto veterans. At last weeks zkDay event as part of EthCC Paris, over 2,000 attendees arrived at a small venue by Rue lAubrac to catch a glimpse of the latest ZK projects on display. P0x Labs, the developer behind ZK protocol Manta Network, even announced a $25 million raise during the event. Currently, the technology has played a critical role in powering layer-2 solutions. By computing a simple cryptographic proof on layer-2, transactions can be finalized nearly instantly while the record is simply sent back to the underlying blockchain as a succinct proof. At the same time, ZK proofs can enable private transactions that do not relay sensitive information to observers. Speaking to Cointelegraph during zkDay, Tiancheng Xie, CTO of ZK protocol Polyhedra, outlined another application of the emerging technology in the realm of cross-chain bridges. The Polyhedra team says the protocol has over 50,000 daily active users and 800,000 monthly active users since its mainnet launch in April. Cointelegraph: I think the ZK bridge
