Zero-Knowledge Proofs are a cryptographic method by which one party (the prover) can prove to another party (the verifier) that a given statement is true, without conveying (or unknowingly leaking) any information apart from one simple statement: that the statement being made is indeed true.
Example: Shaunice is a young woman who has just taken out insurance on her new home. She is required to provide proof that the home is, in fact, her primary residence. Normally, this would involve sending copies of her driver’s license and mortgage statement to the insurance company. However, thanks to Zero-Knowledge proofs, Alice can prove her residency without ever giving away any information about herself other than the fact that she lives at the address in question.
We’re living in a surveillance state, and it’s about time that we took back control of our data. Companies like Facebook have been taking advantage of the fact that they can see what you do online without ever knowing your name – but now there are Zero-Knowledge proofs which will give consumers more power over their own privacy!
The future looks bright for those who wish to sell/buy personal information because these new ZKPs mean everyone has choices when selling or buying Data Privacy Rights
Zero-knowledge proofs are a powerful tool that can be used for all sorts of things, like verifying your identity or proving that you own something. In fact, they’re so versatile that they’ve even been used in online shopping and other everyday activities. Stay tuned to learn more about different ZK-Proof use cases for everyday people.