ING CREATES A BLOCK-BASED SOLUTION THAT SHOULD PROVOKE INTEREST IN WALLSTREET

ING , a financial group from the Netherlands, announced the creation of a new concept of anonymous evidence called "Zero-knowledge range proof" (abbr. ZKRP). As the Cointelegraph reports , the idea should please the financiers from Wall Street, as the risks associated with security and confidentiality scared many people away from the market of block-technology.

THE KEY TO EVERYTHING IS ANONYMITY

The new proof is created in such a way as to keep anonymity, while at the same time confirming the correctness of the transaction. The manager of the blockade at ING, Mariana Gomez de la Villa, stated the following:

It is proved that the ZKRP solution from ING is 10 times more efficient than the other concepts in the Ethereum test network. At the same time, all three principles are met: completeness, validity and evidence without information transfer.

In traditional financial systems, the transaction confirmation process requires a lot of information about the parties involved. However, in systems with proof of zero knowledge, in addition to simple verification, no additional data is required. This makes the transaction completely anonymous and, at the same time, confirmed, which is critical for a massive financial spread.

For some time it was obvious that the largest financial institutions are starting to look closely at the block-technology for domestic transfers. Considering the fact that block projects are being developed in such companies as MasterCard, American Express, Bank of America and Nasdaq, the technology is waiting for a very significant future.