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by: MAIN AVENUE BUSINESS PROCESS OUTSOURCING
Oct 21, 2022
One of the Unique Qualities of BSV Blockchain | Zero-Knowledge-Proofs That Will Blow Your Mind! Blockchain Trilemma is a Fallacy!
Ever wondered why enterprises, governments, and other real-world use cases prefer to integrate BSV Blockchain over any other blockchain in the market? Well, this article is for you! and I’m convinced this info will blow your mind!
Crescenda Babiera
ESG Certified | AI, Blockchain, IoT, IPV6, Web3 Explorer & Marketing Strategist | Entrepreneur | UNSDG Impact Maker
In this article let’s go in straight! BSV Blockchain aside from having the fastest but lowest transaction fees, BSV has 3 major factors, these are Scalability, Security, and Decentralization. These 3 major factors often claim to be unachievable by other blockchains and even call it a Blockchain Trilemma — Only BSV Blockchain kills it.
The Zero-Knowledge proof allows confidential transactions to be posted to the blockchain by providing a way to prove that the transaction is true without revealing the secret information that was used in the transaction.
In my conversation with the Founder of sCrypt (https://scrypt.io) Mr. Xiaohui Liu, he presented a very strong study about Zero-Knowledge Proofs (ZKP). Check it for yourselves here: https://github.com/sCrypt-Inc/awesome-zero-knowledge-proofs#proof-systems.
It is enlightening fact that Zero-Knowledge proof has many different systems or algorithms that can be used depending on their purpose and availability to run on a specific blockchain.
Figure A is showing a list of Zero-Knowledge Proofs comparison.
“BitcoinSV is the only blockchain that is capable to use multiple Zero-Knowledge Proof systems economically. No other blockchain is capable to do that. The rest of blockchains can usually only use one.” — Xiaohui Liu
This is where scalability, security, and decentralization become achievable by BSV Blockchain. Bitcoin or Blockchain Trilemma is a fallacy.
Figure A: Taken from Xiaohui Liu’s work: https://github.com/sCrypt-Inc/awesome-zero-knowledge-proofs#proof-systems
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