Swiss non-profit and Blockstream to Broadcast Bitcoin Proof via Satellite
Swiss non-profit ZeroSync Association and Bitcoin infrastructure firm Blockstream are teaming up to enable faster syncing and global access to Bitcoin by broadcasting zero-knowledge proofs (zk-proofs) from Blockstream’s satellite network. This technology, which has become one of the hottest blockchain-tech trends of 2023, can validate the Bitcoin blockchain without requiring nodes to download the chain’s 500GB of data. Instead, nodes can sync in fractions of a second, enabling faster validation and global access to Bitcoin.
The satellite network provides free global access to Bitcoin by broadcasting the blockchain to the entire planet, including areas with unreliable internet coverage. ZeroSync expects to carry out the first experimental broadcast by the end of the year, and the newly-formed association aims to help scale Bitcoin using zk-proofs.
Co-founder Robin Linus said that “applying [zk-proofs] to generate a proof of Bitcoin’s chain state, and broadcasting it via satellite, can bring Bitcoin to almost everyone in the world. Don’t trust, verify.” This partnership between ZeroSync and Blockstream could potentially make Bitcoin more accessible and help to scale the network in a secure manner.
Zero-knowledge proofs have been gaining popularity in the blockchain space due to their ability to prove the validity of information without revealing the information itself. This is particularly useful in the case of Bitcoin, where every participant must verify every transaction, making the process slow and cumbersome. By using zk-proofs, nodes can validate the blockchain without downloading the entire dataset, making the process faster and more efficient.
Blockstream’s satellite network has been providing free global access to Bitcoin since 2017, with the aim of increasing the decentralization and resilience of the network. The network broadcasts the blockchain to nodes all over the world, providing access even in areas with unreliable internet coverage.
The partnership between ZeroSync and Blockstream could potentially bring Bitcoin to even more people around the world, making it more accessible and easier to validate. By using zk-proofs, nodes can sync faster and more efficiently, reducing the load on the network and enabling more people to participate in the Bitcoin ecosystem.
Overall, the partnership between ZeroSync and Blockstream is an exciting development in the world of Bitcoin and blockchain technology. By using zk-proofs and satellite technology, the two companies aim to make Bitcoin more accessible and secure, helping to scale the network and bring it to more people around the world.
