Trade it Like it is HOT: A Review of Popular ZK Projects and the Zero-Knowledge Proof Technology

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Privacy has always been regarded as one of the most valuable features in the cryptocurrency community as most crypto-asset holders do not want their assets and transaction records to be fully disclosed. Among various encryption technologies that provide privacy, the Zero-Knowledge Proof is one of the most important technologies. Rather than talking about professional knowledge of cryptography, we will explain the theory of the Zero-Knowledge Proof, which can help readers roughly review the Zero-Knowledge Proof system and its current development status. 1 Development of the Zero-Knowledge Proof Technology 1.1 Concept of the Zero-Knowledge Proof Zero-Knowledge Proof (ZKP) is an important part of modern cryptography. It refers to the ability of the prover to convince the verifier that an assumption is correct without providing any useful information to the latter. The Zero-Knowledge Proof is essentially a protocol involving two or more parties, which is a series of steps that two or more parties need to take to complete a task.