In the previous episode regarding proof of loss, I showed the main ideas which shape up my proof of concept (PoC). In summary, it has three main ingredients: Proof of Loss: proves your ownership with property that you lost. Revocable Property: makes your property possible to come back to you. Decentralized Risk: prevents “all” frauds of risks, creates a safe environment to you. As my promises, I will try to dive into how I create…
Regarding proof of loss, this may be a long story from ideas to a proof of concept. I thought about a kind of recoverable-property decentralized system which makes you confident that losing private key is not a problem anymore. Just like you lose your facebook, you can easily recover it by email or phone number. But it was almost at a standstill and I gave up. Two months ago, I was working on Ethereum privacy…
Part 1. The ideas behind zkSNARKs: Zero-knowledge proof To start on journey, we need to clear a confusion that a lot of people still make about Zero-knowledge proof (ZKP) and zkSNARKs. They have connections, but are different definitions. ZKP is a method or protocol by which one party (Prover) can prove to another party (Verifier) about a true statement without revealing the statement’s value. As for zkSNARKs, zkSNARKs is a scheme running on the idea of…
