How ZK Is Shaping Blockchain
- Guest: Vince Yang, Founder of ZKLink
- Host: Szabolcs Gergely, Podcast & YouTube Host at Morningstar Ventures
Top 3 Key Takeaways:
1. ZK Proof has two significant components; Validator and Prover
The conversation started with the topic of security. ZK Proof is looked at as an extra layer that is supposed to keep our privacy and, in the meantime, make underlying actions easier. When we asked Vince about the safety of ZK, he stated that ZK is a bulletproof layer that is mathematically proven to have high security. He explains that ZK Proof has two significant components:
- Validator: This is based on the information of the proof that validates the existence of what is claimed to be there
- Prover: Bringing proof of the underlying tech.
2. DeFi needs to become more intuitive and comprehensive for day-to-day users
Vince explained that the primary focus of zKlink is the blockchain. Specifically, the segment which needs to upgrade most is DeFi. Since DeFi is unintuitive and complicated for most day-to-day users, many tend to go to CEX solutions to complete their transactions, this needs to change. zKLink builds a layer on top of DeFi applications that offers CEX UI and UE for users who can transact and trade on DeFi using their wallets without giving up the ownership of their assets.
3. Make sure to understand what happens to your assets when you place them on a platform
Toward the end of the conversation, we asked Vince how zKlink proves the security and the ownership of the assets. Vince answered, "When you place your assets on a platform, do you always know what is happening in the background?” The answer, of course, is that you don’t know. Therefore the team organized a massive campaign called Dunkirk, where they simulated a system shut-down, where every user had to try and withdraw their assets from the platform to prove that with this infrastructure, even if there is a system failure, everyone's assets are safe and can be withdrawn to their wallets, unlike on any CEX at this moment.
