By: Eva Baxter
Recently discovered footage from an annual cryptology conference dating back 25 years documents early Bitcoin pioneer, Hal Finney, elaborating on the concept of zero-knowledge (ZK) proofs. This discussion reportedly took place a decade before Bitcoin, the first cryptocurrency, was introduced to the world.
In the video, Finney discusses the potential of performing a zero-knowledge proof with a SHA-1 hash. He mentions the possibility of sending a cryptographically encrypted claim without releasing any detailed information contained within the claim itself. The application of ZK-proof, as this cryptographic protocol is called, allows one user to convince another of the authenticity of a specific claim without disclosing detailed information regarding the claim.
Despite Finney referring to it as 'inefficient or impractical' back then due to hardware limitations, ZK-proof has resurfaced in recent discussions and debates within the crypto industry. Today, it is mostly leveraged to scale the Ethereum network. Having made several significant early contributions to privacy-enhancing technology and the first reusable proof-of-work system, Hal Finney remains a respected figure within the cryptocurrency industry.
© BlockBriefly. All Rights Reserved.