[ETNEWS] Zkrypto wins 3innovation awards at'CES 2023'the world's largest electronics & IT exhibition

[Source] ETNEWS 22-11-2022 07:27 Article | zkrypto wins 3 innovation awards at 'CES 2023', the world's largest electronics and IT exhibition

[Original article] http://www.ceodaily.co.kr/news/articleView.html?idxno=35068

A total of three innovation awards, including the ‘Best Innovation Award’ in the cyber security and privacy sector [CEONEWS=Reporter Joohyung Lee]

zkrypto's blockchain privacy guarantee technology has been globally recognized for its competitiveness.

Oh Hyun-ok (Professor, Hanyang University), CEO of zkrypto, announced on the 17th that she received a total of three innovation awards (Honoree), including her top innovation award, at the world's largest electronics and IT exhibition 'CES 2023'.

The CES Innovation Award is an award given by the Consumer Technology Association (CTA) to products of companies with outstanding technology and innovation ahead of the CES, the world's largest IT and consumer electronics exhibition held in Las Vegas, USA every January. .

zkrypto's award-winning products are the 'zkVoting' app and the 'Azeroth' app, and received innovation awards in the △cyber security/privacy protection and △software/mobile app categories. In particular, the 'zkVoting' app was the first blockchain app to be honored with the 'Best Innovation Award', which is awarded to the most innovative technology or product in the cyber security/privacy sector.

'Blockchain online voting system 'zkVoting', which won the Best Innovation Award, is the world's first product that solves the problems and vulnerabilities of the existing blockchain voting system by using its zero-knowledge proof source technology. Voters' privacy is perfectly protected, so they can vote safely anytime, anywhere, and significantly reduce manpower, cost, and time required for election management. In particular, since the voting results can be verified by anyone, the transparency and reliability of elections are dramatically improved.

‘Azeroth’, a digital asset anonymous transaction service system, is the world’s first digital asset transaction wallet app that supports anonymity and auditing on a public blockchain. Unlike existing digital asset trading services, Azeroth discloses all digital assets, including NFTs, supports anonymous transactions, and includes an audit function to respond to regulatory authorities or laws in each country. In addition, it supports more efficient and stable digital asset transactions by providing an audit function that guarantees users' privacy and prevents malicious use.

'Azeroth' has applied 'zk-SNARK', the latest zero-knowledge proof technology, as a core technology, △ 'Auditability' that allows auditors to track all transactions, △ Encrypted transactions, excluding the parties involved in the transaction. It is characterized by confidentiality and anonymity that cannot identify the FT/NFT transaction recipient, and △correctness that can be verified by proving that the cipher text of the transaction has been accurately encrypted and transacted.

In addition, by optimizing the generation speed of zero-knowledge proofs in the mobile app, transactions are possible at a high speed (within 3 seconds), and transaction relay fees are also significantly reduced compared to the gas cost of the existing Ethereum mainnet.

An official from zkrypto said, “It is an honor to publicize our technology and products on the stage of global innovative technology competition.”