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Public Blockchain technology like Ethereum is gaining interest and growing use case among startup and fintechs.
Apart from scalability issues which are going to be solved with new consensus and mining techniques (Ethereum Metropolis and Bitcoin SegWit2x with Lightning network),
privacy on transaction is still an issue which is not yet fully addressed yet. Because of the public nature of a Ethereum, many businesses are reluctant to deploy Smart-contract or Dapps solutions for fear of exposing confidential or sensitive information.
The use of zk SNARKs (zk-SNARK stands for “Zero-Knowledge Succinct Non-Interactive Argument of Knowledge”) would essentially solve this dilemma (next EIP improvement of Ethereum called 'Byzantium' include zk SNARKS).
The idea of zk-SNARKs is that they allow verification of the correctness of computations, without a verifier having to execute those computations, or even learn what was actually executed. Using zk-SNARKs, a verifier can confirm that a computation happened correctly, with ‘zero-knowledge’ of the computation.
We propose during this talk to have a brief presentation on cryptography and theory around zero-knowledge proof algorithm.
Then we will try to showcase the benefits of zk-SNARKS and other privacy-preserving techniques (like zcash) on the public blockchain ecosystem.