ZK-Proofs

The E-Money Network adeptly addresses both public and private concerns by introducing an additional layer of security to protect user data on the blockchain.

It uses Zero Knowledge Proofs (ZKPs) which empower users to decide who can access their data. They can experience an elevated level of data protection and user control within the platform.

ZKPs are particularly used in smart contracts where privacy is crucial for business or legal reasons, such as using proprietary data (for example biometrics) as inputs for triggering smart contract executions. On public blockchain networks, ZKPs have become a common means of achieving privacy. They allow one party to cryptographically prove to another that they possess knowledge about certain information without revealing the actual details. In the context of blockchain, ZKPs only disclose on-chain that a piece of hidden information is valid and known by the prover with a high level of certainty.