Zero-knowledge proofs (ZK-proofs) are a key technology explored by many in the crypto industry. A zero-knowledge protocol is a cryptographic method that allows one party to prove to another party that something is true without revealing any information.
The technology is vital for Ethereum layer-2 solutions to achieve blockchain scalability, and to the privacy and security of ZK transaction networks. The top ZK tokens, such as Polygon (MATIC) and Zcash (ZEC), have surpassed $9 billion in market cap since their inception.
Given the increasing focus on ZK technology and the benefits it can bring to crypto, it’s no surprise it will be one of the hot topics of discussion during the upcoming annual Ethereum Community Conference (EthCC), taking place in Paris from July 17–20.
Some conference-goers, as well as those attending the ZKDay sideline event on July 19, have shared why they believe the technology holds promise in the coming years.
Venture capital is watching closely
According to Cointelegraph Research, venture capital (VC) activity in the cryptocurrency sector is returning to life following a year of decline. In May 2022, the total amount invested in the industry hit $4.4 billion, plummeting to just under $500 million in January 2023 and climbing back to over $1.1 billion in May.
Forest Bai, co-founder and general partner at Foresight Ventures — a Singapore-based VC firm with over $400 million in assets under management — believes the bear market presented a chance for growth, stating: “The collapse of certain crypto institutions presents opportunities for the emergence of new ones.”
EthCC[6] is now completely sold out.
All EthCC talks and workshops will be livestreamed
See you in Paris ❤️
— EthCC – Ethereum Community Conference (@EthCC) July 4, 2023
For Foresight Ventures, which counts companies like Sei Network, Space ID, Shardeum, Catalyst and Space Nation among its portfolio, emerging tech is a core area of investment interest for the firm. Bai said:
“Combining new technologies such as AI, ZK and blockchain is currently the most fascinating direction we are interested in.”
Although factors such as the collapse of FTX, enforcement actions by the United States Securities and Exchange Commission, and the implosion of Terra have cast a shadow on the sector, Bai remains optimistic about the industry’s recovery, stating, “We can see that crypto tech remains dynamic in regions like Hong Kong, Montenegro, Southeast Asia and South…
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