Another eccentric cryptocurrency application based on zero-knowledge proofs (ZKP) addresses the Web2-Web3 synergy in a completely novel way. With Bonsai Pay, every Google account can be turned into a non-custodial crypto wallet with almost no hassle.
Sending Ether to a Gmail account is possible with ZK tests
RISC Zero’s Bonsai Pay, an open source payments platform powered by ZK designed to allow all Gmail users to receive Ethereum (ETH) payments, has arrived on the Sepolia Ethereum testnet. It’s a next-generation way to replace sophisticated Ethereum (ETH) wallet addresses with familiar email contacts.
According to the team’s statement, any active Google account is compatible with the service and requires no additional setup to start receiving ETH funds.
Technically, cryptocurrency is transferred using an escrow contract created on the Ethereum (ETH) network. Recipients can recover assets from this escrow simply by logging into Gmail and generating a zero-knowledge proof.
JSON-based identity tokens and the OpenID Connect protocol are technologies supporting the new product. Its main code base is written in the Rust programming language.
In addition, it takes advantage of the protocol’s own virtual machine called RISC Zero zkVM. Additionally, this instrument can be used by third-party developers through API keys.
ZK-Powered Projects on Fire as Ethereum L2s Recover
The live demo of the protocol was released in addition to Sepolia: the team invites all developers to stress test it and share feedback on GitHub.
The ZK test is a cryptographic method by which the prover can demonstrate to the verifier that this or that statement is true, while avoiding revealing any information beyond the mere fact of the truth of the statement.
ZK proofs are used in many top-tier L2 protocols in addition to the Ethereum (ETH) mainnet. Three of them, Polygon zkEVM, zkSync Era and Scroll, showed double-digit increases in TVL in the last 24 hours.
