Discover the pioneering Zero-Knowledge Proof Setup Ceremony by Nimiq! Calling all crypto tech enthusiasts and developers to join and contribute to the community sourced ceremony.

The Nimiq team will be orchestrating a ZKP ceremony in the coming weeks and are inviting all crypto tech enthusiasts and developers to reach out and join.

Outcome of Phase 1 is not only beneficial for Nimiq, but is designed to be reusable in other projects, contributing to advancements in the crypto space. Phase 1 holds significance for the entire crypto community.

Zero-knowledge proof verification ensures a smooth and efficient syncing process for users. However, the foundation of this verification process lies in the proving and verifying keys. To generate these keys in a decentralized manner, a setup ceremony is essential. This ceremony helps to diminish the element of trust among multiple participants.

As the Nimiq Blockchain developers orchestrate this ceremony, contributors will play a pivotal role. You'll begin by incorporating a random value as input to generate a key pair and a fragment of random data. This data, known as 'toxic waste,' must be discarded to ensure the integrity of the final proof.

The beauty of this process lies in its collaborative nature. The more contributors there are, the more widely the toxic waste is distributed. This distribution is crucial because it reduces the risk of generating unsound or false proofs. If a single entity were to control all the toxic waste, the system's integrity could be compromised. However, widespread participation ensures the proofs' integrity and security. As long as a single participant is honest and destroys their toxic waste, the system’s integrity is preserved.

You can help contribute and find more information on the ZKP Ceremony here:

https://www.nimiq.com/blog/nimiqs-zero-knowledge-proof-setup-ceremony-join-and/