Privacy has long been seen as a valuable feature in the cryptocurrency community. So today we will talk about what does Succinct blockchain mean and understanding zk-SNARK. Let’s find out by reading the article below.
What does Succinct blockchain mean?
A Succinct blockchain is one whose verification complexity is largely independent of chain length. Rather than retaining the entire chain, the current state is preserved and SNARKs prove the existence of a blockchain that explains the current state. In fact, it's even better: a SNARK proves the existence of a blockchain that explains the state of the Merkle root h.
Understanding zk-SNARK
What is zk-SNARK?
zk-SNARK is a zero-knowledge proof protocol in which people can prove that they possess certain information without revealing it, and without any interaction between the two parties to prove and verify the information.
The term "zk-SNARK" is an acronym that stands for "Zero-Knowledge Succinct Non-Interactive Argument of Knowledge." Each part of the name refers to a characteristic of zk-SNARKs, so it is helpful to look at each component separately:
Zero-knowledge: A prover can show a verifier that they own a piece of information without providing the information itself.
Succinct : Proofs can be verified in milliseconds, since proofs are at most a few hundred bytes long.
Non-interactive: the proof consists of a message from the prover to the verifier.
Argument: Argument is the term used for these proofs because they do not quite fit the traditional definition of proof, but they effectively serve the same purpose.
Knowledge: Knowledge refers to the information possessed by the prover.
Pros and cons of zk-SNARKs
The main benefits of zk-SNARKs are the privacy and efficiency they provide. They mask sensitive information, verify them within milliseconds, and do not require extended interactions between the parties involved. All that is required is a message from the prover to the verifier.
While zk-SNARKs don't have any obvious downsides, if someone had the private keys used to set up the protocol, they would be able to create false proofs and forge funds. Privacy coins using zk-SNARKs must take steps to ensure that no single party has access to the private keys.
I hope this article will help you to learn what does Succinct blockchain mean and understanding zk-SNARK. The most famous example of zk-SNARKs is their use in shielding cryptocurrency transactions. Zcash is the first widespread application of zk-SNARKs.
