Share this article
EY Reveals Zero-Knowledge Proof Privacy Solution for Ethereum
EY has announced a prototype that uses zero-knowledge proofs to allow companies to create ethereum tokens while keeping transaction private.
Updated Sep 13, 2021, 8:32 a.m. Published Oct 31, 2018, 9:30 a.m.
"Big Four" accounting firm EY has announced a tool that it says will bring private transactions to ethereum – that's the public blockchain, not a permissioned, enterprise version of the network.
The firm announced in a press release Tuesday that its EY Ops Chain Public Edition prototype ("with patents pending") is the "world's first" implementation of zero-knowledge proof (ZKP) technology for ethereum.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
are a cryptographic method that allows two parties to prove that a secret is true without revealing the actual secret. In the case of cryptocurrencies and blockchains, this is most often data about transactions.
EY's privacy prototype is aimed to allow companies to create and sell product and service tokens on the public ethereum blockchain while keeping access to their transaction records private. The firm said that the prototype supports payment tokens that are "similar" to ethereum's ERC-20 and ERC-721 token standards.
"Private blockchains give enterprises transaction privacy, but at the expense of reduced security and resiliency." said Paul Brody, EY's global innovation leader for blockchain, adding:
"With zero-knowledge proofs, organizations can transact on the same network as their competition in complete privacy and without giving up the security of the public Ethereum blockchain."
Also included with the ZKP prototype is another solution – EY Blockchain Private Transaction Monitor – that captures transaction history.
Coming after the launch of the firm's blockchain apps and services platform EY Ops Chain in April 2017, the new prototypes are aimed to improve transaction efficiency and scalability, and address reluctance among enterprises to use public blockchains. The privacy offering is slated for production release in 2019, according to EY.
Also moving to adopt blockchain privacy technology in a traditional finance setting, ING Bank earlier this month launched a simplified zero-knowledge proof technology for potential use within banking processes.
EY image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
XRP Underperforms Market as Sudden Bitcoin Surge Forces $387M of Liquidations
XRP's technical outlook remains uncertain, with support at $2.05 and resistance at $2.17, as traders watch for volume expansion
What to know:
- XRP posts gains but underperforms compared to the broader digital asset surge, with below-average trading volume raising questions about the move's strength.
- Bitcoin's rise above $94,000 triggered a broad market rebound, leading to significant liquidations and reshuffling of positions.
- XRP's technical outlook remains uncertain, with support at $2.05 and resistance at $2.17, as traders watch for volume expansion to confirm momentum alignment.
Top Stories
