Ethereum Explores Poseidon for Enhanced zk-Proofs

Technical Innovation with Poseidon
Broader Network Upgrades and Future Prospects

Ethereum co-founder Vitalik Buterin has urged researchers to join the Poseidon cryptographic analysis program as the network evaluates switching to the Poseidon hash function. The new initiative aims to enhance Ethereum’s zero-knowledge proof (zk-proof) capabilities, a critical aspect for verifying transactions privately and securely. To gather more data on Poseidon’s security, Ethereum has extended the funding program’s application deadline to March 15.

Technical Innovation with Poseidon

Introduced in 2019, the Poseidon hash function is designed specifically for zero-knowledge proofs, offering an alternative to traditional functions like SHA-256 and Keccak, which have been extensively tested over decades but were not optimized for zk-proofs. In November 2022, Ethereum Improvement Proposal (EIP) 5988 suggested integrating a precompiled contract into the Ethereum Virtual Machine to implement Poseidon, aiming to boost interoperability between the EVM and zero-knowledge rollups. Although there has been no official update on EIP 5988, the network remains seriously interested in Poseidon’s potential.

Broader Network Upgrades and Future Prospects

This exploration is part of Ethereum’s larger strategy to enhance performance and scalability. The much-anticipated Pectra upgrade, scheduled for April 8, is set to further improve Ethereum’s scalability, account abstraction, and layer-2 efficiency, as well as increase validator rewards. This follows the recent Dencun hard fork in March 2024, which significantly reduced transaction fees for layer-2 networks.

By inviting researchers to contribute to the Poseidon analysis, Ethereum is paving the way for potential improvements that could reduce gas fees and strengthen network security while ensuring robust support for its expanding user base.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

ZK-Proofs Ethereum Explores Poseidon

Ethereum Explores Poseidon for Enhanced zk-Proofs

Sujit Kumar

Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.