ZkSNARKs are a new cryptographic technology that allows users to provide proof that certain information is true - that a transaction has occurred, that certain conditions have been met - without revealing the specifics of that information

Overview

Zk-SNARKs are a new cryptographic technology that allows users to provide proof that certain information is true - that a transaction has occurred, that certain conditions have been met - without revealing the specifics of that information. This is more efficient than traditional blockchain encryption methods, which has positive implications for scaling, due to reduced transaction speeds and costs.

BANKEX Zk-SNARKs is a library that simplifies and automates the application of Zk-SNARKs for blockchain. Further development of ZkSNARK will allow BANKEX Plasma to perform even more transactions per second, at an even lower cost. It will also allow for complex operations with crypto-assets, such as limit orders for tokens on distributed exchanges. It will also allow for greater confidentiality, as Zk-SNARKs operations on the blockchain do not have to reveal user addresses, and KYC operations using Zk-SNARKs can reveal that users meet certain conditions, without disclosing the users’ personal information.