Alex Thorn
Head of Firmwide Research
Galaxy
Hear Alex Thorn share his take on “Bitcoin and Inflation: It’s Complicated” at Consensus 2023.
Alex Thorn
Head of Firmwide Research
Galaxy
Hear Alex Thorn share his take on “Bitcoin and Inflation: It’s Complicated” at Consensus 2023.
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Frederick Munawa is a Technology Reporter for Coindesk. He covers blockchain protocols with a specific focus on bitcoin and bitcoin-adjacent networks.
Alex Thorn
Head of Firmwide Research
Galaxy
Hear Alex Thorn share his take on “Bitcoin and Inflation: It’s Complicated” at Consensus 2023.
Alex Thorn
Head of Firmwide Research
Galaxy
Hear Alex Thorn share his take on “Bitcoin and Inflation: It’s Complicated” at Consensus 2023.
Swiss non-profit ZeroSync Association and Bitcoin infrastructure firm Blockstream say they plan to broadcast Bitcoin zero-knowledge proofs – a type of cryptography that’s become one of 2023 hottest blockchain-tech trends – from Blockstream’s satellite.
Using zk-proofs to validate the Bitcoin blockchain means nodes don’t have to download the chain’s current 500GB of data and can therefore sync in fractions of a second instead of hours or days.
Blockstream’s satellite network provides free global access to Bitcoin by broadcasting the blockchain to the entire planet, including areas with unreliable Internet coverage. ZeroSync expects the first experimental broadcast to take place by the end of the year.
The newly-formed ZeroSync Association was launched on Tuesday and plans to help scale Bitcoin by using zero-knowledge proofs (zk-proofs), a cryptographic technique to prove the validity of information without revealing the information itself.
“The security of Bitcoin requires every participant to verify every transaction,” ZeroSync co-founder Robin Linus told CoinDesk. “That didn’t scale well until now. Proof systems like STARKs have been invented. Applying them to generate a proof of Bitcoin’s chain state, and broadcasting it via satellite, can bring Bitcoin to almost everyone in the world. Don’t trust, verify.”
Edited by Bradley Keoun.
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Frederick Munawa is a Technology Reporter for Coindesk. He covers blockchain protocols with a specific focus on bitcoin and bitcoin-adjacent networks.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.
Frederick Munawa is a Technology Reporter for Coindesk. He covers blockchain protocols with a specific focus on bitcoin and bitcoin-adjacent networks.
