Thread by @ZKPanther

Why’s everyone so excited about the possibilities of zk-SNARKs?

What makes them believe it’s a paradigm change in how we interact with each other in the 21st century?

The only way to figure that out is to look at the actual utilities of #zkSNARKs – A thread 🧵👇

Zero-knowledge succinct non-interactive arguments of knowledge (zk-SNARKs) are a truly ingenious method of proving that something is true without revealing any other information.

Let’s have a look at zk-SNARK utilities. These can be broadly classified into four categories: ⏬

#1: Anonymous authorization

Anonymous authorizations using zk-SNARKs can prove that one owns a monthly pass to a subway/metro without revealing the card’s ID.

Or prove that one is in a list of allowed countries/states without revealing from which one exactly.

#2: Anonymous payments

With anonymous payments leveraged by zk-SNARKs, one can make a payment with full detachment from any kind of identity, or pay taxes without leaving a trace of one’s earnings.

Mind-blowing, right?

#3: Outsourcing computation

So how do zk-SNARKs help outsource distributed computing and dramatically cut costs?

With zk-SNARKs, #Blockchain networks can outsource expensive computation and validate that its results are correct without redoing its execution.

zk-SNARKs can also allow for #scalability by changing a blockchain model from everyone computing the same to one party computing and everyone else just verifying the computation.

This can help scale trustless computing. Does “zk-Rollups” ring any bells?

#4: Privacy

Using zk-SNARKs, one can prove that person A has more than X amount in his bank account without revealing their balances.

Similarly, one could also prove matching DNA without revealing full DNA, or proving one’s credit score (e.g. “credit score higher than 700”).

But that’s not all! By leveraging zk-SNARKs, we can finally achieve complete privacy in #DeFi. This is where Panther Protocol enters the picture.

So, how does Panther offer end-to-end privacy in DeFi using zk-SNARKs?

Panther provides DeFi users with fully #collateralized privacy-enhancing digital assets, leveraging zk-SNARKs technology.

Users can mint zero-knowledge #zAssets by depositing digital assets from any blockchain into Panther vaults.

zAssets will flow across blockchains via private #interchain bridges & a private metastrate.

In this way, we can envision a private DeFi experience in which zAssets will become an ever-expanding asset class for users & institutions alike

Learn more at pantherprotocol.io