Ethereum Verifies zkSnarks Transaction

On September 19, 2017, Dr. Christian Reitwiessner announced via reddit that Ethereum’s Ropsten testnet has verified “the zkSNARK part” of a Zcash transaction. Co-creator of the programming language Solidity, Reitwiessner posted a link to the relevant code on GitHub and the relevant transaction available via Etherscan.

Reitwiessner explained, “What is verified here is the zkSNARK part of some real transaction on the real Zcash network. I pulled the data out of the chain sometime around January, I think.” Reitwiessner said he has “no idea” of the transaction’s participants or value, but the Ethereum network has confirmed the transaction.

When one redditor expressed concern about the high gas price, Reitwiessner explained, “The verification cost of a zkSNARKs is largely independent of the amount of computation done in a zkSNARK. This means you could bundle 10000 zk transactions and verify them in a single Ethereum transaction.”

Yesterday, the Byzantium hard fork went live on Ethereum’s Ropsten testnet at block 1,700,000. ETHNews explored the update in depth.

Matthew is a writer with a passion for emerging technology. Prior to joining ETHNews, he interned for the U.S. Securities and Exchange Commission as well as the OECD. He graduated cum laude from Georgetown University where he studied international economics. In his spare time, Matthew loves playing basketball and listening to podcasts. He currently lives in Los Angeles. Matthew is a full-time staff writer for ETHNews.
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