Gmail Accounts Can Now Receive Crypto Via New ZK Tech
As the crypto industry continues to become more popular and widespread, many notable corporations are slowly adopting the new digital asset class
Gmail Accounts Can Now Receive Crypto Via New ZK Tech
As the crypto industry continues to become more popular and widespread, many notable corporations are
slowly adopting the new digital asset class. Google is no different, as it was recently revealed that Bonsai
Pay through RISC Zero introduced the testnet version of its ZK-protected escrow, enabling smooth
Ethereum (ETH) transfers to Google accounts.
A unique approach
This unconventional cryptocurrency application, employing zero-knowledge proofs (ZKPs), explores a unique approach to Web2-Web3 collaboration. Bonsai Pay transforms each
Google account into a non-custodial crypto wallet seamlessly, allowing Ether to be sent to Gmail accounts through ZK proofs. The platform, built on the Sepolia Ethereum testnet,
presents a cutting-edge method of replacing complex Ethereum wallet addresses with familiar email contacts.
According to the team, any active Google account is compatible with the service and necessitates no additional setup to receive ETH funds. Cryptocurrency transactions occur through
an escrow contract on the Ethereum network, and recipients can access their assets by logging into Gmail and generating a ZKP. The product is also supported by JSON-based identity
tokens and the OpenID Connect Protocol, with its core codebase crafted in the Rust programming language.
The future is bright
Bonsai Pay also utilizes the RISC Zero zkVM, which can be accessed by third-party developers through API keys. So far, the team has launched a live demo on the Sepolia testnet,
encouraging developers to stress-test the platform and provide feedback on GitHub.
As zero-knowledge proofs are a cryptographic method allowing the prover to confirm the truth of a statement without revealing additional information, these provide the basis for the
entire protocol. Notably, several ZK-powered projects, such as Polygon zkEVM, zkSync Era, and Scroll, have demonstrated substantial increases in total value locked (TVL) on the
Ethereum mainnet in the past 24 hours, with even higher gains being recorded on a weekly basis. Needless to say, ZKPs are going to play a significant role in a wide variety of areas
