PONTEM x SCROLL x LAYERZERO x BLOCTO x PANTHER: ZERO KNOWLEDGE PANEL RECAP
On May 5, Pontem hosted a panel with Scroll, LayerZero, Blocto, and Panther to discuss zero knowledge technology.
You can listen to the full recording on Twitter, or Discord.
Meet The Speakers:
- Irene Wu: Head of Strategy at LayerZero, an ominichain interoperability protocol that provides an efficient and secure way for applications to exchange messages across different networks.
- Robert Chang: Head of Partnerships at Scroll, an EVM-based zkRollup on Ethereum that enables native compatibility for existing Ethereum applications and tools.
- Anish Mohammed: Co-Founder, CTO, and Chief Scientist at Panther, an end-to-end solution that facilitates privacy in Web3 and DeFi while providing financial institutions with full ownership of their data as they participate in decentralized finance.
Scroll: Unleashing the Power of Zero-Knowledge Proofs for Seamless Blockchain Experience
Scroll is an upcoming Layer 2 solution poised to revolutionize user experience through the utilization of zero-knowledge proofs. Currently in the testnet phase, Scroll is set to launch its mainnet at the end of July.
Unlike other Layer 2 solutions, Scroll eliminates the challenge period for withdrawing funds across bridges, making transactions more seamless and efficient for users. While existing zk-Rollups are often application-specific, hindering the development of general composable dApps and migration of existing applications.
Scroll introduces zkEVM, which enables the generation of ZK proofs for general EVM verification. This breakthrough paves the way for a fully EVM-compatible zk-Rollup, facilitating seamless migration for existing Ethereum applications to Scroll.
LayerZero: Revolutionizing Zero-Knowledge Proofs with Collaborative Ecosystems and Secure Validation Techniques
LayerZero is at the forefront of tackling the challenges involved with ZK proofs, employing two primary strategies. Irene, elaborated on these approaches, highlighting their significance and benefits:
- Partnership and Collaboration with Emerging Ecosystems:
The first approach adopted by LayerZero involves forging partnerships and collaborating with emerging ecosystems, such as ZKSync and Polygon zkEVM. By actively engaging with these projects as launch partners, LayerZero aims to facilitate the seamless development of user-friendly experiences.
This collaboration aims to streamline and simplify transactions on secure chains, enabling them to be fast and scalable. Additionally, by aligning with these ecosystems, LayerZero can attract liquidity from other interconnected platforms, further enhancing the overall efficiency and effectiveness of its solutions.
- Mitigating Risks and Enhancing Security:
The second approach pursued by LayerZero centers around the implementation of novel validation techniques. These techniques enable the verification of smart contracts without necessitating a complete upgrade of the underlying protocol.
By taking this approach, LayerZero mitigates the risks associated with introducing bugs and potential contingent risks thereby enhancing the overall robustness of the ecosystem.
Panther Protocol: Safeguarding Privacy and Paving the Way for Compliant DeFi
With the advent of blockchain technology, it has become easier than ever to track transactions and financial activities. While this can be beneficial in terms of transparency, it also means that personal financial data and trading strategies can be exposed to the public eye.
Panther Protocol utilizes zero knowledge technology to enable users to engage in DeFi activities in complete privacy. A key feature of Panther Protocol is the ability for users to mint fully-collateralized, composable tokens known as zAssets.
These tokens serve as the foundation for executing private and trusted DeFi transactions across multiple blockchains. With zAssets, individuals gain the power to protect their personal financial data and trading strategies from prying eyes, empowering them to take full control of their financial sovereignty.
Mutual Knowledge and Zero-Knowledge Proof in the Age of AI and Transformers
Prince Ramses, a visionary thinker, introduced an enlightening perspective on the concept of mutual knowledge and its profound connection to the realms of zero knowledge proofs and privacy. In his thought-provoking discourse.
According to him, the advent of advanced artificial intelligence technologies, coupled with the transformative power of Transformers, offers a unique opportunity to enhance the utilization of mutual knowledge and zero-knowledge proofs.
By employing ZK proof techniques, which allow for verifying the validity of a claim without revealing any underlying sensitive information, AI and Transformers can further augment the assurance of privacy in a myriad of scenarios.
The conversation also delved into the potential for ZK technologies to revolutionize fields such as tax filing and accessing bank accounts, where the protection of personal information is of paramount importance.
Zero Knowledge and its Growing Significance in Crypto
While ZK proofs have been around for a while, their application in the crypto space has given rise to new developments and a need for even more secure protocols. With the advent of cryptocurrencies, ZK proofs have found their way into the blockchain industry, where they have become an essential tool for ensuring the privacy and security of digital transactions.
The use of ZK proofs in cryptocurrency allows for secure transactions without disclosing any sensitive information, such as the identity of the parties involved or the value of the transaction. This is important in a decentralized system like the blockchain, where the identity of the participants is often unknown and the security of the system relies on the integrity of the cryptographic protocols.
As the use of cryptocurrencies continues to grow and evolve, the need for even more secure protocols is becoming increasing zero knowledge this has led to the development of new zero knowledge protocols, such as zk-SNARKs and zk-STARKs, which offer even greater levels of privacy and security than their predecessors.
Enhancing Blockchain Efficiency: The Role of ZK Proofs in Roll-Ups
ZK proofs have also gained significant attention in the context of roll-ups. Roll-ups are Layer 2 scalability solutions that enable the processing of multiple transactions off-chain, while still maintaining the security and decentralization of the underlying blockchain.
ZK proofs play a crucial role in roll-ups by providing a way to validate the correctness of off-chain computations without revealing any sensitive data. They enable participants to prove the validity of their computations or transactions without disclosing the actual inputs or outputs. This makes ZK proofs an attractive tool for enhancing the scalability and privacy of blockchain systems.
To learn more about ZK technology you can check out our ZK Proofs 101 and ZK Proofs 201 articles.
Pontem is a product development platform that enables global financial inclusion through blockchain technology. Pontem is developing infrastructure and decentralized tools for the fastest and most scalable Layer 1 blockchain – Aptos.
The Pontem Wallet is the gateway to the Aptos ecosystem available for Chrome, Firefox, and iOS. Pontem Wallet users can send and receive tokens, connect to decentralized applications, and explore the Aptos ecosystem.
As a result of its partnership with Aptos, Pontem has developed foundational dApps like the Move Playground IDE, Liquidswap AMM, and ByteBabel code translator.