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XRP Ledger Validator Vet is optimistic about the frontier of zero-knowledge proofs (ZKPs) on the XRPL. Zero-knowledge proofs are believed to possess the potential to drive breakthroughs in privacy and compute scalability.
Vet cited the most recent episode of Ripple's on-chain economy, where Aanchal Malhotra, Research Lead at Ripple, explained XRP Ledger's privacy push.
The XRP Ledger validator hints at what zero-knowledge proofs might bring to the XRP Ledger, which includes trust-minimized bridging for interoperability, compliant privacy and selective disclosure to authorities and third parties.
ZK proofs are also anticipated to bring about transactional scalability, where computations and transactions can be done on XRPL layer 2s, and then the main chain is used as a settlement layer.
Vet believes this is the path to mass adoption and highlighted the need to pay attention at this time.
What's coming?
In the most recent on-chain economy series, Aanchal Malhotra, Research Lead at Ripple, states where XRP Ledger currently stands in the push for on-chain privacy.
According to Malhotra, the XRP Ledger is getting past the exploration phase of zero-knowledge technologies.
Malhotra highlighted that no off-the-shelf solution can be used with the XRPL now at the stage of prototyping zero-knowledge proofs in its journey toward achieving programmable privacy.
The XRP Ledger is adopting a hybrid approach, where certain parts of the zero-knowledge proofs will be implemented natively for better performance and flexibility so that developers can build different applications and proving systems based on their needs within the programmability layer. Malhotra stated that the XRPL is much further in this journey, while teasing real world applications being built on the XRP Ledger soon.
The Ripple head of research explains what programmable privacy means in the context of the XRP Ledger. This advantage presented by blockchains allows users to get the best of both worlds, where they can hide information and at the same time do selective disclosure — for instance, disclosing the relevant information to third parties, such as auditors for compliance purposes.
Tomiwabold Olajide
Denys Serhiichuk
Godfrey Benjamin