Zero Knowledge Proof and its Applications in Bitcoin

Zero Knowledge Proof

Where’s Waldo?

Finding Waldo
Cardboard with a Waldo shape cut
The back and the front of the cardboard
Cardboard big enough to hide the puzzle

Applications in Bitcoin

Escrow via encrypt-and-swap¹

  • In the absence of a dispute, Alice sends a to Bob, who can move the fund.
  • In the presence of a dispute, the escrow chooses a winner. If the winner is Bob, he sends c to the escrow. The escrow decrypts c to get a and sends it back to Bob, who can redeem the fund. Likewise, Alice can take the fund if she is the winner.
  • Funds are locked in a normal bitcoin P2PKH address. Only parties involved know an escrow is involved, increasing privacy.
  • The escrow does not have to participate to deposit or withdraw funds when there is no dispute, potentially reducing its operating cost.
ZKP-based escrow full code

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sCrypt Inc (https://scrypt.io) is a company with a mission to provide integrated on-chain smart contracting solutions using the original BitCoin Protocol on BSV

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sCrypt

sCrypt

sCrypt Inc (https://scrypt.io) is a company with a mission to provide integrated on-chain smart contracting solutions using the original BitCoin Protocol on BSV

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