Transactions, whether financial or data-related, can be classified as either anonymous or confidential. In anonymous transactions, the identity of the person making the transaction is unknown, while in confidential transactions, the content of the transaction remains unknown.
When a user creates an account on the SourceLess Blockchain, they are anonymous at the time of creating the account. However, to KYC and AML verify the user’s identity and certify the authenticity of the WNFT and blockchain registration, they must provide their identity information to a third-party company.
The importance of SNARK, not-interactive zero-knowledge proofs, is a critical aspect of the SourceLess Blockchain platform. This proof construction allows for proving the possession of information without revealing it and without any interaction between the verifier and the requester. Zero Knowledge (ZK) proof enables the verification of information without public disclosure.
To make the most of the platform’s capabilities, SourceLess Blockchain employs a 1 MB node, making zk-SNARKs an essential technology for the network. By combining zk-SNARKs with other technologies, the platform can provide a secure and private online environment that is less susceptible to censorship and surveillance.
In distributed ledger technology, encrypting and distributing information to users is only one aspect of its role. More significantly, it enables participants to automatically contribute their memory and processing power to maintain a network’s efficiency and create information quickly, resulting in a database that is more precise, easier to maintain, and more valuable.
In conclusion, SourceLess Blockchain is a secure and credible platform that ensures anonymity and confidentiality in blockchain transactions using KYC and AML verified third-party companies. Its emphasis on SNARK and zk-SNARKs technology allows for creating a more secure and private online environment, contributing to a more accurate and valuable database.