Plans to use Zero-Knowledge (ZK) proofs for securing cross-chain transfers and interface with Wormhole are in the works.
Light client solutions for Near and Wormhole networks are being developed to computationally enable ZK Proofs.
In order to facilitate cross-chain transfers based on Zero-Knowledge (ZK) proofs, developers from Layer 1 blockchains Near Protocol and Wormhole Bridge are working together to provide light client solutions.
According to a recent release by the Near Foundation, the core Near Protocol team has decided to integrate with the Wormhole bridge rather than using the Rainbow cross-chain bridge for all of their asset transactions. This implies that all of Near’s asset transfers to and from the Ethereum mainnet will use the Wormhole bridge as the primary bridge.
This allows for the safe confirmation and verification of transactions between the Ethereum and Near blockchains. However, this procedure might be computationally intensive, hence light client solutions are required, as outlined by Near Foundation.
In a blockchain network, a lite client is a form of a full node that only downloads a subset of the blockchain but can still validate transactions.
Both groups’ developers are working on light client solutions that will offload most of the computing work involved in using ZK Proofs to a separate layer that is not part of the blockchain itself. The Near Foundation claims that by using this method, both data storage and processing efficiency will be maximised.
The foundation wrote, “The integration with Wormhole is meant to improve our multi-chain interoperability by using the power of cutting-edge Zero-Knowledge (ZK) light clients.” “By sending most of the computing work to an off-chain entity, these clients make the best use of storage and computing resources, paving the way for a more streamlined and efficient bridging process.”
The native token of the Ethereum blockchain, Ether, was declared not to be a security by the former director of the Securities and Exchange Commission’s corporate finance section in a speech given in June 2018.
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