An independent examiner has revealed shocking details surrounding the inner workings of Celsius – a crypto lender that filed for bankruptcy in July 2022. The examiner claimed that Celsius did not operate by the business model that it presented to customers. He likened it to a Ponzi scheme, much like FTX – a company that happened to have used the same accounting software: QuickBooks. The Truth About CEL Token Per a filing from examiner Shoba Pillay on Tuesday, Celsius had…
Zero Knowledge Proofs
What Is zk-SNARKs and How Does it Work?
zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge) is a method for proving the validity of a statement without revealing any information about the statement itself. It allows for the verification of the authenticity of a statement without requiring any interaction between the prover and verifier and without revealing any information about the statement. A specific implementation of zk-SNARKs is zk-Bulletproofs which improves upon the efficiency of the original SNARK construction, making it possible to use in practical applications. A practical…
2 weeks ago 52 views
What Are Zero Knowledge Proofs (ZKP)?
A zero-knowledge proof is a method by which one party (the prover) can prove to another party (the verifier) that a statement is true without revealing any information beyond the fact that the statement is true. This is achieved by using a set of cryptographic protocols that allow the prover to prove the statement to the verifier without revealing any information about it. The most common type of zero-knowledge proof is interactive proof, in which the prover and verifier engage…
2 weeks ago 89 views