Swiss non-profit ZeroSync Association and Bitcoin infrastructure firm Blockstream say they plan to broadcast Bitcoin zero-knowledge proofs – a type of cryptography that’s become one of 2023's hottest blockchain-tech trends – from Blockstream’s satellite.
Using zk-proofs to validate the Bitcoin blockchain means nodes don’t have to download the chain’s current 500GB of data and can therefore sync in fractions of a second instead of hours or days.
Blockstream’s satellite network provides free global access to Bitcoin by broadcasting the blockchain to the entire planet, including areas with unreliable Internet coverage. ZeroSync expects the first experimental broadcast to take place by the end of the year.
The newly formed ZeroSync Association was launched on Tuesday and plans to help scale Bitcoin by using zero-knowledge proofs (zk-proofs), a cryptographic technique to prove the validity of information without revealing the information itself.
“The security of Bitcoin requires every participant to verify every transaction,” ZeroSync co-founder Robin Linus told CoinDesk. “That didn't scale well until now. Proof systems like STARKs have been invented. Applying them to generate a proof of Bitcoin's chain state, and broadcasting it via satellite, can bring Bitcoin to almost everyone in the world. Don't trust, verify.”
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish, a cryptocurrency exchange, which in turn is owned by Block.one, a firm with interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets including bitcoin and EOS. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.