Menlo Park — October 22 2019
Findora, the blockchain powerhouse, has revealed its latest breakthrough in zero-knowledge proofs (ZKP), ‘Supersonic’. Supersonic proofs are the first practical, trustless, succinct, and efficiently verifiable zero-knowledge proofs, which are smaller than 10 kilobytes and take only milliseconds to verify even for the most complex statements. It is contended that they are at least 25 times smaller than any other trustless zero-knowledge proof system with comparable verification times. Findora Foundation and Nervos Foundation’s research staff jointly worked on this project.
Supersonic proofs will be integrated into the Findora platform, a confidential network protocol that enables the seamless, secure, and fully compliant transfer and verification of financial assets. The zero-knowledge discovery will allow the Findora platform to operate its core characteristics of confidentiality, privacy, and auditability with unprecedented efficiency and scalability.
John Powers, Chief Strategy Officer, said: “The blockchain industry has long-sought trustless zk-SNARKs, but up until now they have been impractical. Fully private payment systems, such as Zcash, still rely on trusted setup. Supersonic’s combined proof size and verification time improves on the state-of-the-art by more than an order of magnitude for complex statements. They are at least 50 times smaller than STARKs and 1000 times faster to verify than Bulletproofs for these kinds of applications.”
Commenting on the development, Lili Chao, Chairperson of Findora, said: “Findora is building the internet of finance. Supersonic is a significant step in our journey to bring about a new global financial system that empowers users to control their own financial data, identity, and assets. Through one interoperable ledger, free of data silos, and with built-in privacy and compliance tools enabled by technologies such as Supersonic and Bulletproofs, Findora will rebuild trust, reduce inequalities, and bring fairness to our financial system. Our team’s contribution to Supersonic will bring us closer to making our vision a reality.”
Founded in late 2017, Findora boasts a team of global leaders in the fields of distributed ledger technologies, financial markets, and entrepreneurship. The Findora founding team includes other well-known industry names such as Chief Strategy Officer John Powers, former head of Stanford’s $25 billion USD endowment fund.