Twenty-two leading zero-knowledge tech companies, foundations, and funds, joined by Advanced Micro Devices, announced a ZPrize contest offering $7 million in prizes. The goal is to accelerate zero-knowledge cryptography to enable the technology to help scale blockchain networks. Modeled after XPrize competitions, ZPrize, teams will compete by engineering new algorithms and techniques that achieve performance metrics unmatched by the best zero-knowledge systems deployed in blockchain today.
As blockchain technology and Web3 expand into more use cases, scaling to hundreds of millions of users is an issue. Zero-knowledge shows promise in solving the scaling problems.
Teams will compete to win rewards in dollars and tokens across a range of categories that the sponsors have identified as important for the practical application of zero-knowledge systems. Submissions will be judged against the existing technical benchmarks, with the highest rewards paid out for the most significant improvements on the current state-of-the-art.