Cointime

Download App
iOS & Android

CESC ‘22: Field Notes from The ZKP Workshop

Field notes is a series where we report on the ground at significant industry, research, and other events. In this edition, Valeria Nikolaenko, a Research Partner with the a16z crypto lab, reports on the Zero Knowledge Proof Workshop from the Crypto Economics Security Conference (CESC), which took place on October 30 at the University of California at Berkeley. The program aimed to bring together researchers and practitioners to showcase and discuss the most recent developments in blockchain and web3. You can watch recordings of the presentations here.

  • Yupeng Zhang (Texas A&M University) presented a tutorial on recent development of ZKP systems, an exceptional overview of different approaches to building zk proof systems, mapping them across 4 axes: poof succinctness, prover and verifier efficiency, and transparent vs. trusted setup.
  • Dan Boneh (Stanford University) presented an overview of abstraction of IOPs in general and Plonk polynomial-IOP in particular.

Dan also explained a new system called HyperPlonk, which can eliminate expensive FFTs on the prover’s side and handles gates of high degree much more efficiently, reducing both prover’s time and proof’s size. The interesting parameter to remember is that FFTs dominate the prover’s time when the number of gates is above 220.

  • Tiancheng Xie (UC Berkeley) presented on the zkBridge (read the paper here), highlighting the importance of better design for bridges in light of numerous recent hacks (Ronin Bridge exploitWormhole hackNomad bridge drain, and so on). zkBridge minimizes trust and improves performance with deVirgo zero-knowledge proof system.
  • Dawn Song (UC Berkeley) announced zkCollective – a foundation for secure cross-chain interoperability. The form to participate in the effort can be filled out here.
  • Leo Fan (Cysic) highlighted their results for accelerating multi-scalar multiplication (MSM) on FPGA for zk-prover’s, where MSM often accounts for more than 50% of prover’s time. They are estimated to be faster than comparable efforts (PipeMSM and CycloneMSM). Their ultimate goal is to build an ASIC.
  • Marek Olszewski (Celo) gave a great demo on running Celo’s light client, Plumo, which has been 2 years in development and launched this year. The client is developed as a massive circuit with 227 gates, and powered by an optimistic powers-of-tau ceremony that can be useful for other projects. Community members are generating SNARK-proofs daily (after each epoch change), a proof takes ~1 hour on a 256-core machine. Their WASM library allows the verification of the proofs from web apps.
  • Howard Wu (Aleo) presented the ideas behind the design of Aleo, which builds a blockchain for private transactions that permits concurrency and efficient state updates.
  • Jeremy Bruestle (Risc0) explained the design rationale behind building a zkVM for RISC-V instruction set implemented with zkSTARKs. RISC-V has a very small set of instructions (<40), well supported by different compilers, fully open. And, most importantly, it’s designed for efficient hardware implementations, which implies efficient circuit design for zk proofs.
  • Uma Roy (Succinct Labs) gave an overview of a way to succinctly verify Ethereum’s consensus with zkSNARKs with proving time is only 1 minute.

***

Valeria Nikolaenko is a Research Partner at a16z crypto. Her research focuses on cryptography and blockchain security. She has also worked on topics such as long-range attacks in PoS consensus protocols, signature schemes, post-quantum security, and multi-party computation. She holds a PhD in Cryptography from Stanford University under advisorship of Professor Dan Boneh, and worked on the Diem blockchain as part of the core research team.

***

The views expressed here are those of the individual AH Capital Management, L.L.C. (“a16z”) personnel quoted and are not the views of a16z or its affiliates. Certain information contained in here has been obtained from third-party sources, including from portfolio companies of funds managed by a16z. While taken from sources believed to be reliable, a16z has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. In addition, this content may include third-party advertisements; a16z has not reviewed such advertisements and does not endorse any advertising content contained therein.

This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. Furthermore, this content is not directed at nor intended for use by any investors or prospective investors, and may not under any circumstances be relied upon when making a decision to invest in any fund managed by a16z. (An offering to invest in an a16z fund will be made only by the private placement memorandum, subscription agreement, and other relevant documentation of any such fund and should be read in their entirety.) Any investments or portfolio companies mentioned, referred to, or described are not representative of all investments in vehicles managed by a16z, and there can be no assurance that the investments will be profitable or that other investments made in the future will have similar characteristics or results. A list of investments made by funds managed by Andreessen Horowitz (excluding investments for which the issuer has not provided permission for a16z to disclose publicly as well as unannounced investments in publicly traded digital assets) is available at https://a16z.com/investments/.

Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. Please see https://a16z.com/disclosures for additional important information.

Comments

All Comments

Recommended for you

  • Matrixport: Solana’s funding rate is currently as high as 70% annualized, and a price correction may occur

    According to a report, Matrixport has released a chart today stating that Grayscale has submitted an application to convert Solana Trust into a spot ETF. Although the current asset management scale of the product is relatively small at $134 million, if approved, it will set an important market precedent for other ETF issuers. It is important to note that Solana's financing rate is currently as high as 70% annualized, which creates significant pressure on leveraged long positions. Historical experience shows that similar high financing rates are often related to price corrections, as was the case in March of this year when the SOL-USDT price fell under similar financing rate backgrounds.

  • Japanese Prime Minister Shigeru Ishiba is cautious about separate taxation of cryptocurrencies and approval of ETFs

     Japanese Prime Minister Shizuo Shima expressed caution about the unified 20% separate taxation rule for cryptocurrency in a representative issue at a plenary session of the House of Representatives. "Is it appropriate to encourage investment in cryptocurrency such as stocks and investment trusts that have investor protection regulations? Will the public understand the idea of applying separate self-assessment taxation? There are several issues that need to be resolved. We need to consider it carefully." At the same time, "whether cryptocurrency should be included in ETFs depends on whether cryptocurrency is an asset that needs to be made more easily accessible to the public."

  • AI computing economy layer GAIB completes $5 million seed round of financing, led by Hack VC, Faction VC and Hashed

    GAIB, an AI computing economic layer, announced the completion of a $5 million seed round of financing, with Hack VC, Faction VC, and Hashed leading the investment. Other participating investors include Spartan, Animoca Brands, MH Ventures, Aethir, Near Foundation, Chris Yin from Plume Network, and Lucas Kozinski from Renzo Protocol.

  • Cadenza, an investment institution focusing on blockchain and AI, has raised $50 million for its early-stage AI venture capital fund

     Cadenza, a risk investment company focusing on blockchain and artificial intelligence, announced that its early AI venture capital fund has raised $50 million. The new fund will focus on seed and pre-seed investments, with a focus on infrastructure and enterprise applications. Cadenza's investment portfolio in the Web3 field currently includes: Web3 infrastructure Validation Cloud, Malaysian digital asset exchange Hata, Web3 API platform Uniblock, L1 blockchain Linera, and encrypted wallet application Zulu.

  • Union Completes $12 Million Series A Funding, Led by Gumi Cryptos Capital and Others

    cross-chain settlement layer Union has announced the completion of a $12 million Series A financing round, led by Gumi Cryptos Capital and Longhash Ventures, with participation from Borderless Capital and Blockchange, as well as blockchain founders from Polygon, Movement, and Berachain. The funding will be used for core team expansion, partner integration, and ecosystem development.

  • Russia sentences Hydra market founder to life in prison

     Stanislav Moiseev, founder of the online black market and cryptocurrency mixing service Hydra, has been sentenced to life imprisonment by a Russian court.

  • Portal Ventures raises oversubscribed $75 million crypto fund

    , Portal Ventures, a cryptocurrency venture capital fund before the seed round, raised a $75 million cryptocurrency fund with oversubscription, supported by Chris Dixon and Marc Andreessen.

  • South Korea's ruling party may ask Yoon Seok-yeol to quit the party and propose the resignation of the entire cabinet and the dismissal of the defense minister

    According to multiple media reports on December 4th, the ruling party of South Korea, the National Power Party, held an emergency meeting to discuss the measures to be taken after President Yoon Seok-yeol announced the lifting of martial law. Several attendees stated that they had reached a certain consensus on issues such as demanding Yoon Seok-yeol's resignation from the party, the resignation of the entire cabinet, and the dismissal of the Minister of Defense. Prior to this, Han Dong-hoon, a representative of the ruling party, stated that the president's decision to declare a state of emergency was wrong.

  • Cryptocurrency firms invest $78 million in political action committee Fairshake to channel support for cryptocurrencies

    Cryptocurrency companies have significantly increased their donations to US politicians. Companies such as Coinbase, Circle, and a16z have invested $78 million in Fairshake, a federal super PAC that can receive unlimited funds from corporations and individuals for elections, with the goal of guiding "cryptocurrency-friendly leadership." Coinbase Chief Policy Officer Faryar Shirzad said, "We will do everything we can to depoliticize cryptocurrency." "Our lobbying, grassroots work, and now Fairshake will create space for the public to debate its benefits, rather than our industry being used as a political football by those who do not understand the social benefits of this technology."

  • Web3 consumer application Setter completes $5 million in seed round financing, led by a16z

    On November 28th, according to CoinDesk, Web3 consumer application Setter completed a $5 million seed round of financing, led by a16z, with participation from Marcy Ventures Partners, Superlayer, Thirty Five Ventures, and retired tennis star Serena Williams. Setter plans to help brands innovate and promote exclusive products, and provide customers with limited edition products. Setter aims to solve the complexity and unfriendliness of current wallet technology, providing a more seamless Web3 experience for more users.