tl;dr
The Cardano network achieved a milestone by deploying its first zero-knowledge (ZK) smart contract on the mainnet using the Plutus v3 ledger language. The ZK smart contract, Halo2, will enable zero-knowledge applications and partner chains, including Midnight, to integrate with Cardano. The Input-Ou...
The Cardano network recently achieved a major milestone by deploying its first zero-knowledge (ZK) smart contract on the mainnet. This significant feat makes use of the Plutus v3 ledger language, signifying a notable advancement for the network's capabilities. The ZK smart contract Halo2 will enable zero-knowledge applications and partner chains, including 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), successfully validating 50 out of 90 signatures. This verification process involved two transactions—one to lock the funds and another to unlock them after proof verification. The locking transaction incurred a cost of 0.16 ADA, while the unlocking process using Halo2 verification required a fee of 2.03 ADA.
Halo2 is a cutting-edge zk-SNARK proving system designed to enable secure transaction validation without revealing sensitive details. It builds upon the PLONK protocol, a universal zk-SNARK framework that prioritizes efficiency and flexibility. Halo 2 is component-based, breaking up its functions into modular elements, making 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, which divide computations into smaller segments, with the proof from one stage serving as input for the next. This 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 to facilitate real-world applications by reducing overhead costs and improving the speed of proof generation and verification.
Disclaimer: The opinions expressed by the writers at Grow My Bag are their own and do not reflect the official stance of Grow My Bag. The content provided on our site is not intended as investment advice, and Grow My Bag is not an investment advisor. We do not endorse buying or selling any cryptocurrencies or digital assets mentioned in our articles. High-risk investments in Bitcoin, cryptocurrencies, and digital assets require thorough due diligence, and all transfers and trades made are at your own risk. Grow My Bag is not responsible for any potential losses and participates in affiliate marketing.