Bitcoin Zero Proof of Knowledge (zk-proofs) to be Broadcasted via Blockstream’s Satellite

According to reports, the Swiss non-profit organization ZeroSync Association and Bitcoin infrastructure company Blockstream have stated that they plan to broadcast Bitcoin zero proof of knowledge (zk proofs) from Blockstream’s satellite. Using zk-proofs to validate a Bitcoin blockchain means that nodes do not have to download the current 500GB of data from the Bitcoin chain, so they can synchronize in a fraction of a second instead of hours or days. Blockstream’s satellite network provides free global access to Bitcoin by broadcasting blockchains to the entire planet, including unreliable Internet coverage. ZeroSync expects the first experimental broadcast to take place by the end of this year.

ZeroSync and Blockstream collaborate to broadcast Bitcoin zero knowledge proofs from satellite

Introduction

In recent years, the blockchain technology has revolutionized the way in which businesses carry out their operations. Bitcoin, the foremost digital currency that uses blockchain technology, is a decentralized digital currency that is fast gaining popularity. However, accessing current data from the blockchain has been a challenge due to slow download speed. To address this challenge, Swiss non-profit organization, ZeroSync Association, and Bitcoin infrastructure company, Blockstream, have teamed up to broadcast Bitcoin zero proof of knowledge (zk-proofs) from Blockstream’s satellite, which will ease synchronization in seconds.

Overview of Blockstream’s Satellite

Blockstream launched its satellite network in order to broadcast Bitcoin’s blockchain to the entire planet. The service offers free global access to Bitcoin and ensures vital nodes can keep up-to-date at all times, even under unreliable Internet coverage. Unlike other blockchain networks, Bitcoin doesn’t have a central organization to handle updates to its blockchain, and each node must synchronize its data to the most recent blockchain on its own. The process can be time-consuming, especially for new nodes or slow networks.

Broadcasting Zero Proof of Knowledge

According to reports, ZeroSync aims to use zk-proofs to validate Bitcoin’s blockchain. This is a unique upgrade in that nodes do not need to download the entire Bitcoin chain, currently at 500GB, but instead only need to download a much smaller portion of the network to synchronize. zk-proofs allow for trustless transactions by proving that a piece of data exists without actually revealing it. This will increase the speed of syncing, making the nodes more efficient and decreasing the time required to confirm transactions.

Experimental Broadcast

The ultimate goal of ZeroSync and Blockstream is to ensure more clients can use zk-proofs, thus creating a more efficient and reliable blockchain. According to the Swiss non-profit organization, the first experimental broadcast is planned to take place before the end of this year.

Conclusion

The collaboration between ZeroSync Association and Blockstream provides a novel approach for improving synchronization speed and data reliability in Bitcoin blockchain. With zk-proofs, Bitcoin is now more accessible, efficient, and secure than ever before. ZeroSync has taken up the challenge of using zk-proofs to change the face of blockchain technology and so far, this partnership seems promising.

FAQs

1. What is ZeroSync Association’s role in this partnership?

ZeroSync Association aims to use zero knowledge proofs to increase the speed at which Bitcoin nodes confirm transactions without having to download the entire blockchain.

2. How does Blockstream’s satellite network ensure reliability?

Blockstream’s satellite network broadcasts the Bitcoin blockchain to the entire planet, ensuring that nodes can access current data regardless of their geographical location or unreliable Internet coverage.

3. What is the expected outcome of ZeroSync and Blockstream’s collaboration?

The goal is to ease synchronization in seconds by broadcasting proof of knowledge and creating a more efficient and reliable blockchain.