Introducing ZKON Network

The Future of Decentralized Connectivity

November 24, 2023

In a world where data is in the spotlight due to recent hacks and leaks, existing solutions have shown to be outdated and vulnerable. Specifically, when we are talking about third-party account connections between Web2, Web2.5 and Web3.

Connections must be secure and compliant, existing custody solutions have proven to be vulnerable to external threats. Thus, the regulatory panorama is becoming stricter.

In this article I will give you a first approach to the ZKON network, the problem we are addressing and our current stage of involvement.

Addressing Centralized Security and Privacy Problems

When it comes to account connection and data aggregation, there are numerous challenges to face that are a real headache for all the parties (projects & users):

  • API integration complexities
  • Data leaks exposing sensitive information
  • Data regulation
  • Identity compliance challenges

Recent hacks on Kronos Research, Poloniex, Unibot and Maestro make it obvious that centralized security and privacy deficits are increasingly coming under examination, especially taking into account the latest data leaks in the ecosystem . These incidents highlight a significant vulnerability in existing custody solutions for secrets, which are now seen as outdated and unreliable.

This issue is a major concern not only for individual users but also for companies required to store API keys for linking users accounts. ZKON Network emerges as a beacon of innovation as realiable robust solution.

Significantly, our approach allows for compliance without the need to disclose sensitive information, maintaining the delicate balance between regulatory requirements and user privacy and security.

Unveiling the Magic Behind ZKON Network

ZKON Network’s innovative approach to data security and integrity is underpinned by a trio of cutting-edge technologies, each playing a pivotal role in the network’s operation. These technologies not only enhance security and privacy but also ensure a trustless and efficient system.

  1. Multi-Party Computation (MPC): At the core of ZKON’s network lies MPC, an technology that processes data across multiple parties, safeguarding privacy security. By splitting secrets into encrypted shards and requiring validation from multiple independent parties, MPC ensures that no single entity has full access to the secrets.
  2. Trusted Execution Environments (TEE): ZKON’s decentralized nodes utilize TEEs to create a secure processing space. This technology is crucial for protecting sensitive data, such as connection shard secrets, by processing it within a protected environment. TEEs provide robust defense against external security breaches, guaranteeing that sensitive data remains secure and inaccessible to unauthorized network participants.
  3. Zero Knowledge (ZK) Proofs: ZK technology is a cornerstone of ZKON, enabling the validation of specific data points without the need to reveal underlying details. This means ZKON can, for example, verify whether a user’s balance meets a certain criterion or authenticate a connection, all without disclosing any sensitive information.

Together, these technologies form the backbone of ZKON Network, ensuring it remains a leader in privacy-preserving, secure, and efficient data management within the Web3 space.

Proudly Part of Outlier Ventures’ Zero Knowledge Base Camp Accelerator Program

We at ZKON are excited to be one of five innovative startups focused on Zero Knowledge Proofs, selected for the Outlier Ventures Zero Knowledge Base Camp accelerator. This achievement isn’t just a milestone for us; it strongly supports our business approach and future plans.

Working with Outlier Ventures and respected partners like Scaling X, Old Fashion Research, and key ecosystem contributors like Mina Protocol, we’re moving towards a safer, more scalable and decentralized future.

Our participation in this program shows our dedication to bringing new ideas and excellence to blockchain and Zero Knowledge technology.

Thanks for reading ZKON Network Blog!

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