“Cardano Creates First ZK Smart Contract in Historic Achievement”
Cardano is breaking new ground with the deployment of the first ZK (zero-knowledge) smart contract on its mainnet, according to dcSpark co-founder Sebastien Guillemot. This exciting development ushers in a new era of ZK applications on the Cardano blockchain. The milestone transaction was carried out by Cardano developer Input Output, leveraging the Halo 2 technology for ZK verification on the mainnet.
In this groundbreaking transaction, the first step involved locking the funds, followed by a second transaction that required verification through the Halo 2-generated ZK proof to unlock the funds. Notably, the unlocking transaction incurred a fee of 2.03 ADA ($1.9), which Input Output deemed as “reasonably low.” The Halo 2 zkSNARK proving system, developed by the Electric Coin Company, eliminates the need for a trusted setup in creating and verifying cryptographic zk-SNARKs proofs.
Input Output took to social media to elaborate on the advantages of the Halo 2 cryptographic technique, emphasizing its ability to prove the correctness of a computation without disclosing sensitive details. Recursive proofs, a key feature of Halo 2, enable scalability and interoperability by breaking computations into smaller components. Input Output highlighted the significance of this achievement, calling it a substantial step towards leveraging zero-knowledge proofs on Cardano for enhanced scalability, efficiency, and security.
As Cardano continues to push boundaries in the realm of blockchain technology, this latest development positions the platform as a frontrunner in the adoption of zero-knowledge proofs, offering a potent combination of innovative features.
