Wirex Unveils Zero-Knowledge Proof-Based Non-custodial Crypto Debit Card Service
Wirex, a global digital payment platform, has introduced W-Pay, an App Chain that leverages Zero-Knowledge (ZK) technology, which aims to facilitate seamless connections between decentralized applications (dapps), non-custodial wallets, and traditional payment infrastructures.
Announced on October 3, Wirex's W-Pay, built on Polygon's Chain Development Kit (CDK), harnesses the power of Zero-Knowledge Proofs (ZK-proofs) to offer scalability and security enhancements. Polygon's CDK, designed with a strong focus on ZK-proofs, empowers both businesses and users to create their own layer-2 networks powered by this innovative technology.
ZK-proofs have gained significant traction in the cryptocurrency realm due to their ability to tackle scalability issues while bolstering privacy and security in blockchain networks. These cryptographic proofs enable one party (the prover) to demonstrate the truth of a statement to another party (the verifier) without divulging specific details about the statement itself.
In a ZKP scheme, the prover provides evidence that convinces the verifier of the statement's accuracy while preserving the confidentiality of the underlying information. This approach ensures that transactions within blockchain networks remain confidential, private, and trustworthy. Consequently, ZK-proofs play a crucial role in addressing the challenges of scalability, privacy, and security inherent in blockchain and cryptocurrency technologies.
W-Pay is launching an innovative payment solution that leverages Zero-Knowledge (ZK) technology to facilitate swift and secure transactions. This advanced technology empowers users to conduct card transactions within predefined limits while also facilitating the integration of
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