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The necessity of a trusted setup is one of the zk-SNARKs' key characteristics. It also requires the creation of cryptographic keys, which serve as the evidence necessary for verification and carrying out confidential transactions.
Most cryptocurrencies use a network check to ensure that specific requirements have been met before validating a transaction. The requirements are to verify that the sender has the funds available and that they have supplied the correct private key to prove that the money is theirs. The information that needs to be proven is transformed into equations by zk-SNARKs during the transaction procedure. Without revealing the actual data, these equations can be assessed and solved. So, which coins use zk-SNARKs?
But, what does zk-STARK stand for? zk-STARK stands for Zero-Knowledge Scalable Transparent Argument of Knowledge, which is a type of cryptographic proof technology. zk-STARKs, also known as zero-knowledge proofs, allow users to communicate validated data or execute computations with a third party without the data or analysis being revealed to the other party.
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