Saturday, April 13, 2024

    Ethereum Testnet Verifies ZCash Transaction’s zkSNARKS

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    Bringing more privacy to the Ethereum blockchain is not an easy feat. To do so, developers have to implement a bunch of new code. The obvious solution is integrating zkSNARKS, which are also used by ZCash. It now appears the Ropsten testnet successfully verified this particular component of a ZCash transaction. A big step forward for the developers looking to bring more privacy to Ethereum in the future.

    Up until this point, the Ethereum blockchain has been unable to “read” zkSNARKS components of any transaction. That is not unusual, considering Ethereum doesn’t have that piece of technology built into it. However, developers are looking for convenient ways to change that aspect. By using zkSNARKS for Ethereum, this currency becomes more privacy-centric than before. Such an effort will not happen overnight, although big progress has been made already.

    Ropsten Successfully Verifies zkSNARKS

    Earlier this week, a test was conducted on the Ropsten testnet. The objective was to verify a ZCash transaction’s zkSNARKS. This test has been successful, which is a pretty major breakthrough. This also goes to show the developers are successfully implementing this feature for Ethereum in one way or another. Making Ethereum more privacy-centric is a feature some people have been requesting for some time now. It is unclear if this will be opt-in or not, though.

    Although this verification is a big step, its real implications remain unknown. More specifically, Dr. Christian Reitwiessner explains how he has “no idea” of the participants or value of this transaction. However, the Ethereum network successfully verified and confirmed the transfer, which is pretty interesting. This piece of data was taken from the ZCash blockchain earlier this year and is seemingly selected randomly. An intriguing development, to say the least.

    One thing to take note of is the rather high gas amount. More specifically, the transaction in question used over 2 million gas. However, Reitwiessner explains how the verification cost of zkSNARKS is independent of the computation done. More specifically, one can use one or 700 snarks and verify them with one Ethereum TX. A very interesting development to keep an eye on, that much is certain.

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