Ethereum Nigeria ended its Road Show Workshop for q3 in South-south Nigeria as its community converged at the Borderless Hub in Port Harcourt.
The meet-up tagged, “Unleashing ZK Technology” also saw the presence of the Filecoin Orbit Community grace the occasion. Attendees were introduced to Zero-Knowledge Proofs with The practical implementation of ZK-SNARKS in smart contracts and its application.
Etette Etok, a Software Engineer and Blockchain Developer had a “Hands-on computation of Zero-knowledge”
Since blockchain technology provides a secure and transparent data utilization platform using decentralized networks, it implies that data is visible to all the networks and interaction between nodes.
This is a big problem for people who do not want to share their sensitive data.
However, Zero Knowledge proofs solve this problem and allow for interaction of data between nodes in a network without revealing the data being interacted with.
The basic idea of Zero Knowledge is to prove that a statement or assertion is true without disclosing any information that could be used to deduce the statement itself.
The key principle in Zero Knowledge Proof is that the prover can demonstrate knowledge of the secret to the verifier without revealing the secret itself.
This is achieved in 4 phases:
- The Setup phase
- The initialization phase
- The proving phase
- The verification phase
Jesserc, a blockchain developer talked about “ZK Proofs: Basics of the math behind the privacy”
As explained by Jesserc, the mathematics behind Zero Knowledge Proof is based on advanced cryptographic techniques that rely on the concept of polynomials to verify data without revealing the data itself. Some of these proving techniques include:
- Modular arithmetic
- Elliptic Curve Cryptography
- Zk-SNARK
- Zk-STARKS
Great Adams discussed, “Introduction to ZK Roll-ups”. A zero-knowledge rollup (ZK-rollup) is a layer 2 scaling solution that improves the speed and scalability of blockchain transactions without compromising security.
ZK-rollups achieve this by bundling hundreds or thousands of transactions together and then proving to the main blockchain that the transactions are valid without revealing any of the underlying data.
ZK-rollups work by using a cryptographic technique called zero-knowledge proofs. Zero-knowledge proofs allow a prover to convince a verifier that a statement is true without revealing any information about the statement itself. In the context of ZK-rollups, the prover is the rollup operator and the verifier is the main blockchain.
Gloria Praise, a blockchain developer and web3 frontend engineer took on the topic, “Maximizing The potentials of ZK-Rollups”
As explained by Gloria, to maximize the potential of ZK-rollups, there are a few key things that can be done:
- Increase adoption
- Improve scalability
- Reduce costs
- Provide support for more applications
- Improve security
She continued stating examples of hope Here are some specific examples of how to maximize the potential of ZK-rollups:
- Develop ZK-rollups for specific applications
- Make ZK-rollups more user-friendly
- Integrate ZK-rollups with existing wallets and exchanges
- Provide financial incentives for users to adopt ZK-rollups
Enoch Mbaebie, Ethereum Nigeria Lead, rounded up with, “Introduction to Filecoin and FVM”
Filecoin is a decentralized storage network that deploys blockchain to store and retrieve files.
Filecoin comes with advantages over traditional cloud storage providers as it offers decentralization, efficiency, and transparency.
The FVM is a smart contract platform that enables blockchain developers to build a variety of applications, including, decentralized storage markets, Filecoin payments and governance
Filecoin and the FVM can be used to build a variety of Web3 applications, such as decentralized finance (DeFi) applications, non-fungible token (NFT) marketplaces, and decentralized gaming platforms.
Don’t miss important articles during the week. Subscribe to blockbuild weekly digest for updates.
