Electric Coin Company (ECC), which launched and supports the development of privacy-coin Zcash recently published a paper called: Halo: Recursive Proof Composition without a Trusted Setup.
On Sept. 10, ECC announced in a blog post that engineer and cryptographer Sean Bowe had discovered a way of “creating practical, scalable and trustless cryptographic proving” techniques, which claims to end a 10-year-long pursuit by the cryptography communities. He called the solution Halo.
Halo takes away the need for a ‘trusted setup’
The strategy of Halo reportedly holds the potential of compressing limitless amounts of computation, creating auditable distributed systems, building highly scalable blockchains and protecting privacy. The article reads:
“The concept is a proof that verifies the correctness of another instance of itself, allowing any amount of computational effort and data to produce a short proof that can be checked quickly.
Sean’s discovery involves ‘nested amortization’ — repeatedly collapsing multiple instances of hard problems together over cycles of elliptic curves so that computational proofs can be used to reason about themselves efficiently, which…
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Author: Joeri Cant