Crypto

The bitcoin network has been running non-stop since 2009 and at the time of writing this blog post, the whole blockchain occupies more than 500GB. Verifying information in that huge amount of data is not an easy task. Luckily, as many other computer science problems, this can be solved by using the correct data structure. In our case, that data structure is the Merkle tree. What is a Merkle Tree (a.k.a Hash Tree)? As the name suggests, the Merkle tree is a data structure in form of a tree (usually binary) where: ...

Seed phrase and private key are two terms that are tightly related but are different things. When setting up a new crypto wallet such as Metamask, Ledger or Trezor, among others, a list of 12 or 24 common words is given to the user to back up. That list is the so-called seed phrase, an “easy to remember, easy to backup” word list. A private key is a large binary string used by a crypto wallet for signing the transactions that later will be sent to the chain. ...

It’s common to hear about web3 initiatives incorporating or aiming to incorporate ZK-proofs for increased privacy. The notion of Zero Knowledge proof (ZK-proof) is not a modern concept; it was first introduced in a paper named “The Knowledge Complexity of Interactive Proof-Systems” in 1985. In this article we will see what a ZK-proof is, offer an intuitive explanation and explore several use cases. Whether you are a developer or a user, it’s important to understand the core concept behind ZK-Proofs because it will help you understand not only what the product is trying to achieve in matters of security and privacy but also how they are trying to achieve them. ...