Zk-SNARKs is a cryptographic technique, which makes it possible to efficiently convince verifies that the person trying to prove really knows something without actually having to reveal the information itself.
Unknown and untrusted parties will be able to privately interact in a blockchain due to the soundness of their knowledge. This is important to create valid proof, which cannot be created without knowledge of the correct statement. Valid proof by keeping the knowledge private.
The Filecoin network is currently generating 6 to 7 million Zk-SNARK proofs every day, and each proof consists of more than 100 million arithmetic constraints.
Reportedly, Filecoin is the largest deployed zk-SNARK network to date. The trusted setup enables circuits of up to 2^127 = ~128M constraints. The large individual circuits have 100M constraints. Some proofs bundle up as much as 10 individual zk-SNARKs into a single large proof to satisfy security requirements. There is also extended and deployed research on zk-SNARK aggregation, which permits the compression of thousands of individual proofs into a single proof.
These capabilities provide Filecoin with the ability to provide more information than what the rest of the world has ever produced. The statistics speaks volumes.
Juan Benet, Founder at Filecoin, retweeted: David Lang, “These are my best “NFTs for Science” ideas: an essay *and* an experiment. Cryptoeconomics has given us a new way to define, create, and exchange value. Scientists should seize the moment.
Two discussions are happening around NFTs and science. The first is surface-level: cash grabs by Universities auctioning off the intellectual property and important criticism of energy use. But there’s a much richer conversation happening below the surface.
Small groups and nascent teams are grasping the opportunity to invent new ways for scientists to pursue their curiosity and be rewarded for it. And they’re quickly building out prototypes. It’s ideas *and* infrastructure.
The NFT world became more dynamic and exciting when it overlapped and included digital artists. The same could be true if more scientists get involved. The trial and error will reveal the path forward, but more ideas and voices are needed.”
Lang stated their new experiment is set to start and that he loves to hear about how it could be improved.
Long Hash Ventures in the past pointed to how “NFTs are arguably the killer use case to unlock Filecoin’s storage capacity.” It just looks like the idea aged well.
A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5
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