Cardano Achieves Milestone with First Zero-Knowledge Proof Smart Contract
Cardano has hit a major milestone with the deployment of the very first ZK (zero-knowledge) smart contract on its mainnet. This exciting development, according to dcSpark co-founder Sebastien Guillemot, ushers in a new era of ZK applications on the Cardano network.
The groundbreaking transaction was carried out by Cardano developer Input Output using the Halo 2 for ZK verification on the blockchain’s mainnet. The first step involved locking the funds, followed by a second transaction that required the verification of the Halo 2-generated ZK proof to unlock the funds. Impressively, the unlocking transaction incurred a fee of just 2.03 ADA ($1.9), a relatively low cost as noted by Input Output.
The Halo 2 zkSNARK proving system, developed by the team at Zcash, eliminates the need for a trusted setup in creating and verifying cryptographic zk-SNARKs proofs. This innovative technique allows for the verification of computations without revealing any sensitive details, offering a new level of security and efficiency to Cardano’s ecosystem.
In a comprehensive social media thread, Input Output highlighted the advantages of the Halo 2 cryptographic technology, emphasizing its ability to facilitate recursive proofs that enhance scalability and interoperability by breaking down computations into smaller, manageable parts.
While there is still work to be done, Input Output views this ZK smart contract deployment as a significant step forward in leveraging zero-knowledge proofs on the Cardano network. This achievement brings a powerful combination of scalability, efficiency, and heightened security to the forefront of Cardano’s development.
This exciting news showcases the ongoing innovation and progress within the Cardano community, paving the way for a future filled with new possibilities and advancements in smart contract technology.
