Why zk-SNARKs Are Crucial For Blockchain Data Privacy

Data privacy has been a hot topic lately. The revelation that millions of Facebook users’ data were breached by the political consulting firm Cambridge Analytica has sent a jolt through the tech world.

With the amount of data people provide to companies like Facebook, it’s essential to have ways to protect information and keep sensitive data safe. And zk-SNARKs are a valuable weapon in the battle for privacy and security.

Known for its widespread use in Zcash, zk-SNARK is an acronym for “zero-knowledge, Succinct, Non-Interactive Argument of Knowledge.”

It’s a mouthful to say, but its capabilities are simple. zk-SNARK is a form of cryptography that proves possession of certain information without revealing that information, and without any interaction between the prover and verifier.

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Bitcoin Buy Demand Highest Since March 2017, Exchange Data Shows

Linking to data from TurtleBC, p2p exchange HodlHodl described the trend as “indicating there is more demand for Bitcoin than supply.”

“This is also an indicator of market sentiment among those who are buying and selling Bitcoin,” it added.

A 90-10 ratio effectively means that 90% of the interested investors are vying for the Bitcoin of the remaining 10%.

Despite prices nose-diving since the cryptocurrency’s all-time highs of near $20,000 in December 2017, not even those heights produced such investor demand.