Ethereum based privacy startup Aztec has launched zero-knowledge succinct non-Interactive argument of knowledge (SNARKs) generation. The company has used cryptographic ceremony called Ignition to launch the SNARKS platform. The computation ceremony, i.e., Ignition will “generate a set of encrypted points” These points will then be used to derive all future Aztec notes. The procedure would create an open-source reference string. This string would be utilized by both Aztec as well as future cryptosystems. So what do SNARKS do? The universal SNARKs have a versatile list of functions. The system can be used for private banking, anonymous voting, and many other
