How zCloak sets a new paradigm for a private and scalable computation environment
October 14, 2022 at 12:02:52 PM
We are thrilled to announce our investment in zCloakNetwork which is a privacy-preserving computing platform that ensures self-sovereign data control and much more.
Founded in 2020, zCloak Network is a privacy-preserving computing platform. It enables a new computation paradigm where people can do computation/analysis of their data in client device, not in centralized servers. zCloak Network combines the latest progress in zero-knowledge cryptography and verifiable credentials to ensure both the computation process and the user data are trustworthy.
With zCloak, users can prove their identity has certain attributes or they satisfy certain requirements without showing any private data. The user proofs are made available in major public blockchains by zCloak oracle service. Third-party DApps can leverage this information to provide personalized service to their users.
Zero-Knowledge of Proof as key element of zCloak
ZKP is a type of cryptographic math that enables someone to prove things are true without actually revealing the information. zCloak uses ZK-STARKs virtual machine to generate and verify zero-knowledge proofs for general-purpose computation, based on the concept of Self-Sovereign Data and Self-Proving Computation. It helps users to perform computation and analysis on their data without sending the data to 3rd parties.
Using zCloak ID Wallet, users can prove their identity information satisfies some restrictions via zero-knowledge. In this manner, the verifier won’t have access to the claimer’s personal information but can also check whether the content in the credential meets his/her requirement. DID and VC as security provider for zCloak Authentication and verification have become one of the major challenges worldwide. With the advent of blockchain technology and distributed ledger, a novel, fully decentralized and permission-less approach has been established, which is promising for self-governance and self-sovereignty.The DID ecosystem is based on public key infrastructures where only the owner of the private key has full authorization of the DID. This is like blockchain-based systems, in which the users control their assets. This leads to the following issues regarding the system when in use such as recovering a lost private key is extremely difficult and once your private keys are stolen, malicious acts like impersonation may cause “you” to misbehave. Overall, all users are fully responsible for creating and managing a secure backup of their private keys/mnemonics.A verifiable credential (VC) can represent the same information as a physical credential represents. The addition of technologies, such as digital signatures, makes verifiable credentials tamper-proof and more trustworthy than their physical counterparts.Holders of verifiable credentials can generate verifiable presentations and then share these verifiable presentations with verifiers to prove they possess verifiable credentials with certain characteristics. About Ceras Ventures We are a global leading investment firm committed to cutting-edge technology projects in Web 3.0 and crypto space to create long-term value-oriented investment and digital asset management. Our scope covers global digital assets and projects with growth potential to provide careful stewardship and to achieve capital appreciation.Since our start of business in 2014, we firmly believed in innovation and the path forward of digital economy with the development of blockchain technologies which are extremely evolving. As growth is our key vision, our company is named after the Latin word ‘ceres’ which means ‘growth’. We aim to grow with our partners in a sustainable way of economic transition.Our investment perspectives cover the areas of DeFi, Web 3.0 Infrastructure, Metaverse, NFT, DAO and disruptive technologies.Our mission is ‘Value Counts’ to make every interaction and collaboration count to move forward together successfully. Website Links:zCloakHome | Ceras Ventures (cerasvc.com) Twitter Links:zCloak Network (@zCloakNetwork) / TwitterCeras Ventures (We are hiring) (@CerasVentures) / Twitter