Web3 faces a number of challenges in the attempt to overthrow its Web2 predecessor, ranging from network security and complexity, to transactional efficiency and interoperability. Due to the reliance on traditional bridges established between blockchains, both scalability and overall stability of Web3 infrastructure is at risk.
To prevent the collapse of Web3 and establish reliable foundations for multichain compatibility, innovators like Prom are already developing solutions through zero-knowledge (ZK) technology.
Traditional Blockchain Bridge Barriers
Bridges between blockchains are essential to ensure a smooth and efficient transfer process for all crypto-based assets. They function by facilitating transactions between different blockchains, enabling an interoperable network of networks. However, over time, vulnerabilities have been exposed such as targeted high-profile security bridge breaches — including the famous Wormhole Bridge hack in 2022.
Vulnerabilities such as these have historically led to significant losses which could have been averted by addressing infrastructural inefficiencies. As a part of these inefficiencies, slow transaction times and costly transaction fees are the bane of crypto users looking to bridge their assets through traditional bridging methods.
The consequence of exposure to such risks and bottlenecks shakes the trust from the communities that utilize these bridges. Whether it be financial loss through bad actors or through extortionate fees, a bridge that lacks trust and frustrates users quickly sees adoption levels fall.
ZK Technology: Security Through Cryptography
In an indirect response to the detriment of traditional bridging solutions, zero-knowledge (ZK) proofs have begun to enter the crypto space. This cryptographic technique offers a breakthrough for blockchain security by allowing transaction verification while ensuring details remain private.
The use of ZK proofs by bridging platforms helps users shift assets between blockchains without exposure to the risks of traditional bridges. By mitigating risks of hacking, exploitation, and fraudulent activity, ZK proofs minimize user risk of the targeted attacks that have long-since plagued the conventional bridge frameworks.
Additionally, while mitigation of such risks is advantageous, ZK proofs can also drastically improve the efficiency and scalability of a blockchain network. By compressing transactions and reducing computational load from a blockchain, ZK proofs enable blockchain technology to quickly verify without sacrificing security — or leading to network congestion. This process reduces both transaction costs and the time it takes to finalize those cross-chain transactions.
Prom: Building ZK-Powered Multichain Compatibility
Setting out to build upon the potential of ZK proofs, Prom is a Modular ZkEVM Layer 2 framework, powered by Polygon. By integrating a specific form of ZK proofs known as zkSNARKs, Prom ensures multichain compatibility remains a secure and private process for all transactions.
This strategic use of ZK proofs helps maintain the scalability of a blockchain while ensuring user data stays confidential. Moreover, this method boosts the stability and resilience of multichain transactions, offering a reliable solution for interoperability.
By enabling multichain interoperability, Prom becomes the bridge between ecosystems — across both Ethereum Virtual Machine (EVM) and non-EVM networks. With a focus on Account Abstraction (AA), Prom takes a user-friendly approach and works to reduce the technological hurdles that newcomers face as they enter the space.
Multichain Web3 Innovation
Through the power of ZK technology, as employed by platforms like Prom, the progression towards secure multichain Web3 innovation hastens. By tackling the flaws of traditional blockchain bridging solutions, alternatives built upon ZK proofs offer a more expansive and inclusive option to fuel a digital economy.
ZK technology offers a future where differing blockchain networks — with starkly different features and purposes — can interact without security risks or performance hindrances. This innovation towards a multichain Web3 future exceeds mere crypto transactions.
By facilitating complex smart contract-based execution and interacting with decentralized applications (dApps), ZK proofs optimize the ecosystem that exists between blockchains. This innovation makes it possible to create cooperative infrastructure between networks and facilitate the flow of data securely — establishing an interconnected decentralized blockchain network.
Furthermore, through this Web3 multichain compatibility, platforms like Prom push towards a trustless financial future for all users. The security and privacy guarantees offered by ZK technology enable the adoption of blockchain technology, even in confidential industries like healthcare, government, and banking. Organizational use of ZK proofs for transactions ensures the assets of these more data-sensitive industries are protected — fueling further blockchain mainstream adoption and innovation.
Preventing A Fragmented Future
To prevent fragmentation of blockchain networks in the future, Web3 innovation — through multichain compatibility— is crucial. Platforms that use ZK technology, like Prom, are leading this integration process, aiming to create a future that is both connected and efficient.
With a focus on long-term sustainability and overall protection of data privacy, ZK proof technology’s incorporation is becoming the building block for future blockchain adoption. By addressing all the risks associated with the current bridging solutions, ZK-powered blockchain bridges like Prom help forge a path to Web3’s true potential.