Today, Dutch bank ING has announced it has solved one of R3’s pain points on the Corda blockchain. Corda’s ‘
digital notary’ service previously had to choose between acceptable privacy or security. ING’s solution uses zero-knowledge proofs (ZKPs) to validate transactions, so their contents can be kept private without compromising on safety.
The bank today released the whitepaper: ‘Solutions for the Corda Security and Privacy Trade-off: Having Your Cake and Eating It’. Indeed, ZKPs, which allow a party to prove some information is correct or known without ever seeing it, sound too good to be true. But they are becoming a
popular solution for data privacy on blockchains.
The notary service on
Corda has two options, a validating notary and a non-validating notary. The first type has to see all the transaction history leading up to the one being validated, which is reliable but not private.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
