The scalability of Layer-1 blockchains is an ongoing issue, and recently, Zero-knowledge proofs (ZKPs) have been touted as a key solution. Among these, zkRollups have been highlighted for their ability to increase transaction throughput greatly. As such, BNB Chain has introduced zkBNB, a scalability solution built on the power of zkSNARKs.
zk-SNARKs, or zero-knowledge succinct non-interactive arguments of knowledge, allow for efficient and compact proof of knowledge statements. When applied to blockchain solutions, these proofs enable batch processing and verification of transactions. However, zk-SNARKs require an initial setup phase involving a common reference string (CRS) generation, performed using Multi-Party Computation (MPC).
MPC is a cryptographic technique that allows multiple parties to perform a computation while keeping their inputs private. In the zk-SNARKs setup phase, preventing any single party from manipulating the parameters or gaining undue influence over the system is crucial.
zkBNB uses the zkSNARK algorithm, necessitating a trusted setup with an MPC ceremony. This ceremony generates public/private keys using secret information. Multiple participants each create a shard of this secret information to generate the keys, after which they must destroy their shard to secure the protocol.
zkBNB trusted setup is a two-step process. The first is independent of any protocol and reuses the Perpetual Powers of Tau ceremony. The second step is circuit-specific and only serves the second phase. Both steps together ensure the security and scalability of the zkBNB system.
The BNB Foundation is collaborating with communities for the MPC participants. During the setup ceremony, participants will share their IPs with the coordinator for whitelist inclusion to ensure server security. They will then download and run an open-source script that creates and discards a secret shard, inputting their name as a parameter.
As a BNBChain community member, If you would like participants to the MPC Ceremony, feel free to comment before the end of this month.
