The Good Tech Companies - Unlocking the Power of Zero-Knowledge Proofs

Episode Date: August 9, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/unlocking-the-power-of-zero-knowledge-proofs. Sachin Kumar is advancing blockchain security by integrating smart contracts with zero-knowledge proofs, ensuring privacy and trust in digital transactions. Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #zero-knowledge-proofs, #blockchain, #smart-contracts, #zkp, #cryptography, #sachin-kumar, #digital-security, #good-company, and more. This story was written by: @jonstojanmedia. Learn more about this writer by checking @jonstojanmedia's about page, and for more stories, please visit hackernoon.com. Sachin Kumar is working on zero-knowledge proofs (ZKPs) and smart contracts. A ZKP can trigger a smart contract without providing identifying information about the trigger. Kumar will co-found P2P Labs Inc. in 2023 to continue advancing this privacy-centric technology.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. Unlocking the Power of Zero Knowledge Proofs by John Stoyan Media. Sachin Kumar is keeping blockchain honest with smart contracts that respect your essential right to privacy. The blockchain runs on codes and contracts, passing information and valuable data through processes that execute when certain conditions are met. It needs to be simplified to be understood in brief. Fortunately, experts like Sachin Kumar have invested years of passion into ensuring it all works to your advantage and of in-place value on your right to privacy. Something that zero-knowledge proofs, ZKPs, and smart contracts are best at.

Why ZKPs are integral in advancing the blockchain When people talk about crypto, they talk about blockchain technology, which increasingly means smart contracts. This represents a technological progression. Smart contracts are agreements that execute automatically when their conditions are met, and those can be sales, transfers, or other deals. A ZKP can trigger a smart contract without providing identifying information about the trigger, allowing people and systems to conduct business without sacrificing their privacy and security. It's next-generation internet security, and even if you don't deal with blockchains, you want this to be robust for the sake of the global economy. Thanks go to Sachin Kumar,

one of the figures who ensured that ZKPs became the integral security feature they've become. Beginning with a fellowship from the University of California and the Open Mind nonprofit, Kumar turned his deep-seated belief in privacy as a fundamental human right into a passion for applied cryptography that would shape the development of smart contracts and ZKPs. The invention of ZKP2P. Applying cryptography to smart contracts. While developing smart contracts between 2021 and 2023, Kumar began work on ZKP2P. This open-source project would benefit from grants from the Ethereum Foundation. In 2023, Kumar will co-found P2P Labs Inc. to continue advancing this privacy-centric technology. A peer-to-peer

solution that embodies the principles of trust minimization, speed, and accessibility, says Kumar, who explains that ZKP2P was conceived to address the need for reliable and efficient digital currency exchanges, especially in high-inflation regions. It's already touched your economies, being integrated with fiat platforms in countries like the USA, India, and Turkey, where crypto is closely tied to traditional currencies' value. The quick, secure movement of real value on blockchains in some of the world's biggest economies has already significantly contributed to mitigating the challenges posed by inflation in these areas. Keeping blockchains honest and secure.

Working on ZKP2P has been a professionally fulfilling journey, says Kumar. This project has not only allowed me to contribute to the cryptocurrency ecosystem meaningfully but also to advance the state of privacy and security in digital transactions. Kumar has also had the opportunity to speak for these values at events like the ZK10 in London and ProgCrypto in Istanbul, and he said to serve as a mentor at the Ethereum Amsterdam conference and judge at the ZKHack hackathon in Krakow. Sachin Kumar has done much work in the last few years. I committed to enhancing blockchain systems with my work in applied cryptography in order to see what can be done to ensure privacy and trustworthy systems, he says. His strong motivation and commitment to the value of preserving privacy through next-generation technological solutions have given him significant influence in this moment of incredible innovation. Keeping blockchain technology honest and secure is essential,

and the world has seen the benefit of Kumar's focus. Thank you for listening to this HackerNoon story, read by Artificial Intelligence. Visit hackernoon.com to read, write, learn and publish.