Promise of Zero‐Knowledge Proofs (ZKPs) for Blockchain Privacy and Security: Opportunities, Challenges, and Future Directions

ABSTRACT Blockchain technology has revolutionized data sharing and storage, yet maintaining privacy and security while ensuring transparency and immutability remains a significant challenge. This research addresses this challenge by investigating the promising solution of Zero‐Knowledge Proofs (ZKPs), which allow for validation without revealing additional information. Unlike previous studies that focus on specific ZKP types or limited performance metrics, this article provides a comprehensive analysis of multiple ZKP technologies, along with their distinct features and blockchain applications. We evaluate ZKP tools such as snarkjs, ZoKrates, and Circom, focusing on key factors including proof size, trusted setup, prover time, verifier time, and scalability. A detailed case study on the Ethereum blockchain demonstrates the practical implementation and performance of ZKPs, effectively bridging the gap between theoretical analysis and real‐world applications. Furthermore, we explore how ZKPs can significantly enhance scalability in blockchain applications. By proposing innovative ZKP use cases and addressing current challenges, this article not only provides a comprehensive understanding of ZKP technologies but also outlines potential future research directions, making a significant impact on the field of blockchain privacy and security.