We are thrilled to release the proof of concept zkBasename, a groundbreaking dApp designed to safeguard your privacy on Base using the power of zero knowledge proofs!
In an era where digital privacy is paramount, zkBasename empowers you to prove ownership of your Base account, NFTs, balances, and more—all without revealing your identity or account details.
Base is an Ethereum Layer 2 network that offers a secure, low-cost, and developer-friendly environment for building decentralized applications. It provides scalability and efficiency, making blockchain more accessible to users and developers. As reflected in daily transaction growth and many other metrics, Base's features have led to explosive growth that we are excited to join.
zkBasename is NovaNet's innovative privacy tool designed specifically for the Base network.
The term "Basename" refers to the fundamental identifier or account name you use on Base. Basenames are currently used by over 1,000,000 active users, and growing. However, by sharing their Basename users are also sharing their underlying account identifier and all of the transactions associated with it on the blockchain.
With zkBasename, you can interact with dApps on the Base network confidently, knowing that your Basename account details and personal information remain confidential.
Zero knowledge proofs (ZKPs) are cryptographic methods that allow one party to prove to another that a statement is true without revealing any information beyond the validity of the statement itself.
By leveraging ZKPs, zkBasename allows you to confirm ownership of your Base account and its assets without exposing any sensitive data. It's like having an unlisted phone number—you can communicate and verify your identity when needed, but your personal details stay private.
In simple terms, zkBasename enables you to prove that you own a Base account within a set of many other accounts—without ever revealing which account is yours. You can confirm ownership of NFTs, verify balances, and authenticate transactions, all while keeping your account details completely confidential.
Imagine being part of an exclusive club where membership is confirmed, but identities remain secret. zkBasename works in a similar way:
1. Zero-Knowledge Proof Generation: When you need to prove ownership of your account or assets, zkBasename generates a zero-knowledge proof that validates your claim without exposing any underlying data.
2. Privacy Preservation: Your account remains indistinguishable within a group of 1,000 accounts. This ensures that while your ownership is verified, your specific identity and account details are kept private.
3. Memory-Efficiency: zkBasename utilizes memory-efficient zero-knowledge proofs, making the generation and verification of proofs faster and more accessible. This efficiency is crucial for users with limited computational resources, ensuring that privacy tools are available to everyone. Memory efficiency not only enhances the user experience but also paves the way for scalability.
4. Secure Verification: The proof can be publicly verified, assuring others of your ownership while maintaining your anonymity.
In the digital age, data is one of our most valuable assets. By using zkBasename, you're not just protecting your own privacy—you're contributing to a broader movement that prioritizes confidentiality and security in the blockchain space.
Whether you're a collector of rare NFTs, a trader managing significant balances, or a user who values discretion, zkBasename offers a solution that aligns with your needs.
We're excited about the possibilities that zkBasename brings to the Base community at large. Ready to experience zkBasename for yourself? Base users can get started here.
After PoC, the NovaNet team will be working on the API. Base developers will be able to leverage the API for proofs such as privacy-preserving proof of NFT ownership, proof of asset values, and a unique zk-identifier for Base dApp login.
Stay private, stay secure, stay Based.
