The Swiss not-for-profit ZeroSync Association and the Bitcoin infrastructure company Blockstream have announced that they intend to broadcast Bitcoin zero-knowledge proofs from Blockstream’s satellite.
Zero-knowledge proofs are a form of cryptography that has become one of the most popular trends in blockchain technology in 2023. Nodes do not need to download the chain’s current 500 GB of data and may thus sync in fractions of a second rather than hours or days because zk-proofs are used to validate the Bitcoin blockchain rather than traditional proofs.
Blockstream’s satellite network enables free and unrestricted access to Bitcoin throughout the whole planet by broadcasting the blockchain to every location, even those with spotty or no Internet service. The company ZeroSync anticipates that the first test transmission will take place before the end of the year.
The ZeroSync Association, which just recently came into existence and had its official launch on Tuesday, has the intention of assisting in the scaling of Bitcoin by utilizing zero-knowledge proofs, also known as zk-proofs. These are a type of cryptographic technique that can prove the validity of information without revealing the information itself.
According to Robin Linus, co-founder of ZeroSync, who was interviewed by CoinDesk, “the security of Bitcoin requires every participant to validate every transaction.” “Up until now, that hasn’t scaled very effectively. Proof systems like STARKs have been devised. By using them to construct a proof of the current status of the Bitcoin chain and then broadcasting it via satellite, it would be possible to make Bitcoin accessible to virtually all people on the planet. Don’t trust, verify.”