Cardano deploys first zero-knowledge smart contract, expanding blockchain capabilities News โธ Cardano โธ Technology
Cardano deploys first zero-knowledge smart contract, expanding blockchain capabilities
The deployment paves the way for integrating zero-knowledge applications and partner chains with Cardano,.
2 min read
Updated: Nov. 27, 2024 at 1:34 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The Cardano network has reached a significant milestone by successfully deploying its first zero-knowledge (ZK) smart contract on the mainnet.
This achievement utilizes the Plutus v3 ledger language, marking a step forward for the network’s capabilities.
The ZK smart contract Halo2 will allow zero-knowledge applications and partner chains, such as Midnight, to integrate with Cardano.
On Nov. 25, the Input-Output (IO) Research team verified the Halo2 proof on the mainnet for the Ad-hoc Threshold Multi-signatures scheme (ATMS). This scheme successfully validated 50 out of 90 signatures.
The process involved two transactionsโone locking the funds and another unlocking them after proof verification. The locking transaction cost 0.16 ADA, while unlocking using Halo2 verification required a fee of 2.03 ADA.
Understanding Halo2
Halo2 is a cutting-edge zk-SNARK proving system that enables secure transaction validation without revealing sensitive details.
The firm explained that the technology builds upon the PLONK protocol, a universal zk-SNARK framework that optimizes efficiency and flexibility. Halo 2 is component-based, breaking up its functions into modular elements, hoping to make it easier to adapt to cryptographic needs.
This approach allows one party to confirm computations to another without exposing underlying data. Unlike traditional zk-SNARK systems, Halo2 eliminates the need for a trusted setup and addresses potential security risks and logistical challenges.
Another standout feature of Halo2 is its support for recursive proofs. This capability divides computations into smaller segments, where the proof from one stage serves as input for the next. This feature allows for efficient proof aggregation, targeting enhanced performance and scalability.
Input Output stated:
“Halo 2 was developed as an extension and improvement of the original Halo protocol, designed by Sean Bowe at Electric Coin Company. By building on modern cryptographic primitives, Halo 2 enhances the overall security of zero-knowledge proof.”
With these advancements, Halo2 aims for real-world applications to reduce overhead costs and improve the speed of proof generation and verification.
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Posted In: Cardano, Technology
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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Cardano is a decentralized public blockchain and cryptocurrency project and is fully open source.
Input Output
Input Output Hong Kong (IOHK) is a research and development company committed to using the peer-to-peer innovations of blockchain to build accessible financial services for all.