You Can Now Prove A Whole Blockchain With One Math Problem – Really (#GotBitcoin?)
The Electric Coin Company (ECC) says it discovered a new way to scale blockchains with “recursive proof composition,” a proof to verify the entirety of a blockchain in one function. You Can Now Prove A Whole Blockchain With One Math Problem – Really (#GotBitcoin?)
For the ECC and zcash, the new project, Halo, may hold the key to privacy at scale.
A privacy coin based on zero-knowledge proofs, referred to as zk-SNARKs, zcash’s current underlying protocol relies on “trusted setups.”
These mathematical parameters were used twice in zcash’s short history: upon its launch in 2016 and first large protocol change, Sapling, in 2018.
Zcash masks transations through zk-SNARKs but the creation of initial parameters remains an issue. By not destroying a transaction’s mathematical foundation – the trusted setup – the holder can produce forged zcash.
Moreover, the elaborate ‘ceremonies‘ the zcash community undergoes to create the trusted setups are expensive and a weak point for the entire system. The reliance on trusted setups with zk-SNARKs was well known even before zcash’s debut in 2016. While other research failed to close the gap, recursive proofs make trusted setups a thing of the past, the ECC claims.
Speaking with CoinDesk, ECC engineer and Halo inventor Sean Bowe said recursive proof composition is the result of years of labor – by him and others – and months of personal frustration. In fact, he almost gave up three separate times.
Bowe began working for the ECC after his interest in zk-SNARKs was noticed by ECC CEO and zcash co-founder Zooko Wilcox in 2015. After helping launch zcash and its first significant protocol change with Sapling, Bowe moved to full-time research with the company.
Before Halo, Bowe worked on a different zk-SNARK variant, Sonic, requiring only one trusted setup.
For most cypherpunks, that’s one too many.
“People we are also starting to think as far back as 2008, we should be able to have proofs that can verify other proofs, what we call recursive proof composition. This happened in 2014,” Bowe told CoinDesk.
Bowe’s work is similar to bulletproofs, another zk-SNARK that requires no trusted setup. “What you should think of when you think of Halo is like recursive bulletproofs,” Bowe said.
From a technical standpoint, bulletproofs rely on the “inner product argument,” which relays certain information about the curves to one another. Unfortunately, the argument is both very expensive and time consuming compared to your typical zk-SNARK verification.
By proving multiple zk-SNARKs with one–a task thought impossible until Bowe’s research–computational energy is pruned to a fraction of the cost.
“People have been thinking of bulletproofs on top of bulletproofs. The problem the bulletproof verifier is extremely expensive because of the inner product argument,” Bowe said. “I don’t use bulletproofs exactly, I use a previous idea bulletproofs are built on.”
In fact, Bowe said recursive proofs mean you can prove the entirety of the bitcoin blockchain in less space than a bitcoin blockhead takes – 80-bytes of data.
The Future Of Zcash
Writing on Twitter, Wilcox said his company is currently studying the Halo implementation as a Layer 1 solution on zcash.
Layer 1 solutions are implementations into the codebase constituting a blockchain. Most scaling solutions, like bitcoin’s Lightning Network, are Layer 2 solutions built on top of a blockchain’s state. The ECC’s interest in turning Halo into a Layer 1 solution speaks to the originality of the discovery as it will reside next to code copied from bitcoin’s creator himself, Satoshi Nakamoto.
ECC is exploring the use of Halo for Zcash to both eliminate trusted setup and to scale Zcash at Layer 1 using nested proof composition.
— zooko (@zooko) September 10, 2019
Since the early days of privacy coins, scaling has been a contentious issue: with so much data needed to mask transactions, how do you grow a global network?
Bowe and the ECC claim recursive proofs solve this dilemma: with only one proof needed to verify an entire blockchain, data concerns could be a thing of the past:
“Privacy and scalability are two different concepts, but they come together nicely here. About 5 years ago, academics were working on recursive snarks, a proof that could verify itself or another proof [and even] verify multiple proofs. So, what [recursive proof composition] means is you only need one proof to verify an entire blockchain.”
To be sure, this isn’t sophomore-level algebra: Bowe told CoinDesk the proof alone took close to nine months of glueing various pieces together.
A New Way To Node
A further implication of recursive proofs is the amount of data stored on the blockchain. Since the entire ledger can be verified in one function, onboarding new nodes will be easier than ever, Bowe said.
“You’re going to see blockchains that have much higher capacity because you don’t have to communicate the entire history in one. The state chain still needs to be seen. But if you want to see entire the network you don’t need to download the entire blockchain.”
While state chains still need to be monitored for basic transaction verification, syncing the entire history of a blockchain–over 400 GB and 200 GB for ethereum and bitcoin respectively–becomes a redundancy.
For zcash, Halo means easier hard forks. Without trusted setups, ECC research claims, “proofs of state changes need only reference the latest proof, allowing old history to be discarded forever.”
When asked where his discovery ranks with other advancements, Bowe spoke on its practicality:
“Where does this stand in the grand scheme of things in cryptocurrency?
It’s a cryptographic tool to compress computation… and scale protocols.”
In essence, Bowe and Co. discovered a new method of proving the validity of transactions, while masked, by compressing computational data to the bare minimum. As the ECC paper puts it, “proofs that are capable of verifying other instances of themselves.”
Blockchain transaction such as bitcoin and zcash are based on elliptic curves with points on the curve serving as the basis for the public and private keys.
The public address can be thought of the curve: we know what the elliptic curve looks like in general. What we do not know is where the private addresses are which reside on the curve.
It is the function of zk-SNARKs to communicate about private addresses and transactions–if an address exists and where it exists on the curve–anonymously. You Can Now Prove,You Can Now Prove,You Can Now Prove,You Can Now Prove,You Can Now Prove,You Can Now Prove,You Can Now Prove,You Can Now Prove,You Can Now Prove,You Can Now Prove,You Can Now Prove,You Can Now Prove
Bitcoin Information & Resources (#GotBitcoin?)
First-Ever SEC-Qualified Token Offering In US Raises $23 Million (#GotBitcoin?)
Crypto Mining Supply Fails To Meet Market Demand In Q2: TokenInsight
$2 Billion Lost In Mt. Gox Bitcoin Hack Can Be Recovered, Lawyer Claims (#GotBitcoin?)
Fed Chair Says Agency Monitoring Crypto But Not Developing Its Own (#GotBitcoin?)
Wesley Snipes Is Launching A Tokenized $25 Million Movie Fund (#GotBitcoin?)
Mystery 94K BTC Transaction Becomes Richest Non-Exchange Address (#GotBitcoin?)
A Crypto Fix For A Broken International Monetary System (#GotBitcoin?)
Four Out Of Five Top Bitcoin QR Code Generators Are Scams: Report (#GotBitcoin?)
Waves Platform And The Abyss To Jointly Launch Blockchain-Based Games Marketplace (#GotBitcoin?)
Bitmain Ramps Up Power And Efficiency With New Bitcoin Mining Machine (#GotBitcoin?)
Ledger Live Now Supports Over 1,250 Ethereum-Based ERC-20 Tokens (#GotBitcoin?)
Miss Finland: Bitcoin’s Risk Keeps Most Women Away From Cryptocurrency (#GotBitcoin?)
Artist Akon Loves BTC And Says, “It’s Controlled By The People” (#GotBitcoin?)
Ledger Live Now Supports Over 1,250 Ethereum-Based ERC-20 Tokens (#GotBitcoin?)
Co-Founder Of LinkedIn Presents Crypto Rap Video: Hamilton Vs. Satoshi (#GotBitcoin?)
Crypto Insurance Market To Grow, Lloyd’s Of London And Aon To Lead (#GotBitcoin?)
No ‘AltSeason’ Until Bitcoin Breaks $20K, Says Hedge Fund Manager (#GotBitcoin?)
NSA Working To Develop Quantum-Resistant Cryptocurrency: Report (#GotBitcoin?)
Custody Provider Legacy Trust Launches Crypto Pension Plan (#GotBitcoin?)
Vaneck, SolidX To Offer Limited Bitcoin ETF For Institutions Via Exemption (#GotBitcoin?)
Russell Okung: From NFL Superstar To Bitcoin Educator In 2 Years (#GotBitcoin?)
Bitcoin Miners Made $14 Billion To Date Securing The Network (#GotBitcoin?)
Why Does Amazon Want To Hire Blockchain Experts For Its Ads Division?
Argentina’s Economy Is In A Technical Default (#GotBitcoin?)
Blockchain-Based Fractional Ownership Used To Sell High-End Art (#GotBitcoin?)
Portugal Tax Authority: Bitcoin Trading And Payments Are Tax-Free (#GotBitcoin?)
Bitcoin ‘Failed Safe Haven Test’ After 7% Drop, Peter Schiff Gloats (#GotBitcoin?)
Bitcoin Dev Reveals Multisig UI Teaser For Hardware Wallets, Full Nodes (#GotBitcoin?)
Bitcoin Price: $10K Holds For Now As 50% Of CME Futures Set To Expire (#GotBitcoin?)
Bitcoin Realized Market Cap Hits $100 Billion For The First Time (#GotBitcoin?)
Stablecoins Begin To Look Beyond The Dollar (#GotBitcoin?)
Bank Of England Governor: Libra-Like Currency Could Replace US Dollar (#GotBitcoin?)
Binance Reveals ‘Venus’ — Its Own Project To Rival Facebook’s Libra (#GotBitcoin?)
The Real Benefits Of Blockchain Are Here. They’re Being Ignored (#GotBitcoin?)
CommBank Develops Blockchain Market To Boost Biodiversity (#GotBitcoin?)
SEC Approves Blockchain Tech Startup Securitize To Record Stock Transfers (#GotBitcoin?)
SegWit Creator Introduces New Language For Bitcoin Smart Contracts (#GotBitcoin?)
You Can Now Earn Bitcoin Rewards For Postmates Purchases (#GotBitcoin?)
Bitcoin Price ‘Will Struggle’ In Big Financial Crisis, Says Investor (#GotBitcoin?)
Fidelity Charitable Received Over $100M In Crypto Donations Since 2015 (#GotBitcoin?)
Would Blockchain Better Protect User Data Than FaceApp? Experts Answer (#GotBitcoin?)
Just The Existence Of Bitcoin Impacts Monetary Policy (#GotBitcoin?)
What Are The Biggest Alleged Crypto Heists And How Much Was Stolen? (#GotBitcoin?)
IRS To Cryptocurrency Owners: Come Clean, Or Else!
Coinbase Accidentally Saves Unencrypted Passwords Of 3,420 Customers (#GotBitcoin?)
Bitcoin Is A ‘Chaos Hedge, Or Schmuck Insurance‘ (#GotBitcoin?)
Bakkt Announces September 23 Launch Of Futures And Custody
Coinbase CEO: Institutions Depositing $200-400M Into Crypto Per Week (#GotBitcoin?)
Researchers Find Monero Mining Malware That Hides From Task Manager (#GotBitcoin?)
Crypto Dusting Attack Affects Nearly 300,000 Addresses (#GotBitcoin?)
A Case For Bitcoin As Recession Hedge In A Diversified Investment Portfolio (#GotBitcoin?)
SEC Guidance Gives Ammo To Lawsuit Claiming XRP Is Unregistered Security (#GotBitcoin?)
15 Countries To Develop Crypto Transaction Tracking System: Report (#GotBitcoin?)
US Department Of Commerce Offering 6-Figure Salary To Crypto Expert (#GotBitcoin?)
Mastercard Is Building A Team To Develop Crypto, Wallet Projects (#GotBitcoin?)
Canadian Bitcoin Educator Scams The Scammer And Donates Proceeds (#GotBitcoin?)
Amazon Wants To Build A Blockchain For Ads, New Job Listing Shows (#GotBitcoin?)
Shield Bitcoin Wallets From Theft Via Time Delay (#GotBitcoin?)
Blockstream Launches Bitcoin Mining Farm With Fidelity As Early Customer (#GotBitcoin?)
Commerzbank Tests Blockchain Machine To Machine Payments With Daimler (#GotBitcoin?)
Bitcoin’s Historical Returns Look Very Attractive As Online Banks Lower Payouts On Savings Accounts (#GotBitcoin?)
Man Takes Bitcoin Miner Seller To Tribunal Over Electricity Bill And Wins (#GotBitcoin?)
Bitcoin’s Computing Power Sets Record As Over 100K New Miners Go Online (#GotBitcoin?)
Walmart Coin And Libra Perform Major Public Relations For Bitcoin (#GotBitcoin?)
Judge Says Buying Bitcoin Via Credit Card Not Necessarily A Cash Advance (#GotBitcoin?)
Poll: If You’re A Stockowner Or Crypto-Currency Holder. What Will You Do When The Recession Comes?
1 In 5 Crypto Holders Are Women, New Report Reveals (#GotBitcoin?)
Beating Bakkt, Ledgerx Is First To Launch ‘Physical’ Bitcoin Futures In Us (#GotBitcoin?)
Facebook Warns Investors That Libra Stablecoin May Never Launch (#GotBitcoin?)
Government Money Printing Is ‘Rocket Fuel’ For Bitcoin (#GotBitcoin?)
Bitcoin-Friendly Square Cash App Stock Price Up 56% In 2019 (#GotBitcoin?)
Safeway Shoppers Can Now Get Bitcoin Back As Change At 894 US Stores (#GotBitcoin?)
TD Ameritrade CEO: There’s ‘Heightened Interest Again’ With Bitcoin (#GotBitcoin?)
Venezuela Sets New Bitcoin Volume Record Thanks To 10,000,000% Inflation (#GotBitcoin?)
Newegg Adds Bitcoin Payment Option To 73 More Countries (#GotBitcoin?)
China’s Schizophrenic Relationship With Bitcoin (#GotBitcoin?)
More Companies Build Products Around Crypto Hardware Wallets (#GotBitcoin?)
Bakkt Is Scheduled To Start Testing Its Bitcoin Futures Contracts Today (#GotBitcoin?)
Bitcoin Network Now 8 Times More Powerful Than It Was At $20K Price (#GotBitcoin?)
Crypto Exchange BitMEX Under Investigation By CFTC: Bloomberg (#GotBitcoin?)
“Bitcoin An ‘Unstoppable Force,” Says US Congressman At Crypto Hearing (#GotBitcoin?)
Bitcoin Network Is Moving $3 Billion Daily, Up 210% Since April (#GotBitcoin?)
Cryptocurrency Startups Get Partial Green Light From Washington
Fundstrat’s Tom Lee: Bitcoin Pullback Is Healthy, Fewer Searches Аre Good (#GotBitcoin?)
Bitcoin Lightning Nodes Are Snatching Funds From Bad Actors (#GotBitcoin?)
The Provident Bank Now Offers Deposit Services For Crypto-Related Entities (#GotBitcoin?)
Bitcoin Could Help Stop News Censorship From Space (#GotBitcoin?)
US Sanctions On Iran Crypto Mining — Inevitable Or Impossible? (#GotBitcoin?)
US Lawmaker Reintroduces ‘Safe Harbor’ Crypto Tax Bill In Congress (#GotBitcoin?)
EU Central Bank Won’t Add Bitcoin To Reserves — Says It’s Not A Currency (#GotBitcoin?)
The Miami Dolphins Now Accept Bitcoin And Litecoin Crypt-Currency Payments (#GotBitcoin?)
Trump Bashes Bitcoin And Alt-Right Is Mad As Hell (#GotBitcoin?)
Goldman Sachs Ramps Up Development Of New Secret Crypto Project (#GotBitcoin?)
Blockchain And AI Bond, Explained (#GotBitcoin?)
Grayscale Bitcoin Trust Outperformed Indexes In First Half Of 2019 (#GotBitcoin?)
XRP Is The Worst Performing Major Crypto Of 2019 (GotBitcoin?)
Bitcoin Back Near $12K As BTC Shorters Lose $44 Million In One Morning (#GotBitcoin?)
As Deutsche Bank Axes 18K Jobs, Bitcoin Offers A ‘Plan ฿”: VanEck Exec (#GotBitcoin?)
Argentina Drives Global LocalBitcoins Volume To Highest Since November (#GotBitcoin?)
‘I Would Buy’ Bitcoin If Growth Continues — Investment Legend Mobius (#GotBitcoin?)
Lawmakers Push For New Bitcoin Rules (#GotBitcoin?)
Facebook’s Libra Is Bad For African Americans (#GotBitcoin?)
Crypto Firm Charity Announces Alliance To Support Feminine Health (#GotBitcoin?)
Canadian Startup Wants To Upgrade Millions Of ATMs To Sell Bitcoin (#GotBitcoin?)
Trump Says US ‘Should Match’ China’s Money Printing Game (#GotBitcoin?)
Casa Launches Lightning Node Mobile App For Bitcoin Newbies (#GotBitcoin?)
Bitcoin Rally Fuels Market In Crypto Derivatives (#GotBitcoin?)
World’s First Zero-Fiat ‘Bitcoin Bond’ Now Available On Bloomberg Terminal (#GotBitcoin?)
Buying Bitcoin Has Been Profitable 98.2% Of The Days Since Creation (#GotBitcoin?)
Another Crypto Exchange Receives License For Crypto Futures
From ‘Ponzi’ To ‘We’re Working On It’ — BIS Chief Reverses Stance On Crypto (#GotBitcoin?)
These Are The Cities Googling ‘Bitcoin’ As Interest Hits 17-Month High (#GotBitcoin?)
Venezuelan Explains How Bitcoin Saves His Family (#GotBitcoin?)
Quantum Computing Vs. Blockchain: Impact On Cryptography
This Fund Is Riding Bitcoin To Top (#GotBitcoin?)
Bitcoin’s Surge Leaves Smaller Digital Currencies In The Dust (#GotBitcoin?)
Bitcoin Exchange Hits $1 Trillion In Trading Volume (#GotBitcoin?)
Bitcoin Breaks $200 Billion Market Cap For The First Time In 17 Months (#GotBitcoin?)
You Can Now Make State Tax Payments In Bitcoin (#GotBitcoin?)
Religious Organizations Make Ideal Places To Mine Bitcoin (#GotBitcoin?)
Goldman Sacs And JP Morgan Chase Finally Concede To Crypto-Currencies (#GotBitcoin?)
Bitcoin Heading For Fifth Month Of Gains Despite Price Correction (#GotBitcoin?)
Breez Reveals Lightning-Powered Bitcoin Payments App For IPhone (#GotBitcoin?)
Big Four Auditing Firm PwC Releases Cryptocurrency Auditing Software (#GotBitcoin?)
Amazon-Owned Twitch Quietly Brings Back Bitcoin Payments (#GotBitcoin?)
JPMorgan Will Pilot ‘JPM Coin’ Stablecoin By End Of 2019: Report (#GotBitcoin?)
Is There A Big Short In Bitcoin? (#GotBitcoin?)
Coinbase Hit With Outage As Bitcoin Price Drops $1.8K In 15 Minutes
Samourai Wallet Releases Privacy-Enhancing CoinJoin Feature (#GotBitcoin?)
There Are Now More Than 5,000 Bitcoin ATMs Around The World (#GotBitcoin?)
You Can Now Get Bitcoin Rewards When Booking At Hotels.Com (#GotBitcoin?)
North America’s Largest Solar Bitcoin Mining Farm Coming To California (#GotBitcoin?)
Bitcoin On Track For Best Second Quarter Price Gain On Record (#GotBitcoin?)
Bitcoin Hash Rate Climbs To New Record High Boosting Network Security (#GotBitcoin?)
Bitcoin Exceeds 1Million Active Addresses While Coinbase Custodies $1.3B In Assets
Why Bitcoin’s Price Suddenly Surged Back $5K (#GotBitcoin?)
Zebpay Becomes First Exchange To Add Lightning Payments For All Users (#GotBitcoin?)
Coinbase’s New Customer Incentive: Interest Payments, With A Crypto Twist (#GotBitcoin?)
The Best Bitcoin Debit (Cashback) Cards Of 2019 (#GotBitcoin?)
Real Estate Brokerages Now Accepting Bitcoin (#GotBitcoin?)
Ernst & Young Introduces Tax Tool For Reporting Cryptocurrencies (#GotBitcoin?)
Recession Is Looming, or Not. Here’s How To Know (#GotBitcoin?)
How Will Bitcoin Behave During A Recession? (#GotBitcoin?)
Many U.S. Financial Officers Think a Recession Will Hit Next Year (#GotBitcoin?)
Definite Signs of An Imminent Recession (#GotBitcoin?)
What A Recession Could Mean for Women’s Unemployment (#GotBitcoin?)
Investors Run Out of Options As Bitcoin, Stocks, Bonds, Oil Cave To Recession Fears (#GotBitcoin?)
Goldman Is Looking To Reduce “Marcus” Lending Goal On Credit (Recession) Caution (#GotBitcoin?)
Our Facebook Page
Your Questions And Comments Are Greatly Appreciated.
Monty H. & Carolyn A.