Zero-knowledge tech development heats up amid bear market By Cointelegraph

Zero-knowledge (ZK) proofs, or cryptographic methods that allow one party to prove to another party that something is true without revealing any sensitive underlying private information, have been a hot topic of discussion among crypto veterans. At last week’s zkDay event as part of EthCC Paris, over 2,000 attendees arrived at a small venue by Rue l’Aubrac to catch a glimpse of the latest ZK projects on display. P0x Labs, the developer behind ZK protocol Manta Network, even announced a $25 million raise during the event.

Currently, the technology has played a critical role in powering layer-2 solutions. By computing a simple cryptographic proof on layer-2, transactions can be finalized nearly instantly while the record is simply sent back to the underlying blockchain as a succinct proof. At the same time, ZK proofs can enable private transactions that do not relay sensitive information to observers.