The Future of Crypto: The Latest Cryptography Advances Set to Change Blockchain
Developments in cryptography and their impact on crypto
Cryptocurrencies could not exist without cryptography. Advances in this field can have far-reaching impacts on blockchain technology and its potential. We will examine the opinions of industry experts on the latest cryptographic advances and their potential for cryptocurrencies.
Zero knowledge proofs: more than just privacy
Director of research at blockchain firm Blockstream and mathematician Andrew Poelstra told Cointelegraph that zero-knowledge proof (ZK-Proof) systems are “one of the most exciting areas of development” in the cryptography space. This kind of cryptography is known and appreciated for being the basis of privacy-preserving solutions.
ZK-Proofs are the basis of the privacy-preserving technology included in so-called anoncoin Zcash (ZEC). According to Poelstra, cryptographers have made significant progress in the application efficiency of this technology and now work “with more robust and well-accepted cryptographic assumptions.”
Blockchain firm Suterusu is currently working on implementing ZK-Proof-enabled privacy as a second-layer solution on top of Bitcoin and Ethereum’s blockchains. The company’s chief technology officer Huang Lin — who claims to have researched cryptography for over a decade —