Shanghai today published an action plan to boost the technical development of blockchain in the city up to 2025, as the Chinese city continues its web3 drive.
Under the plan, Shanghai intends to achieve breakthroughs in the fields of blockchain system security, cryptographic algorithms, blockchain-specific processors, smart contracts, cross-chain, storage, privacy computing and regulation, the Shanghai municipal government said in a statement. Such technological developments can offer support for the construction of the municipal blockchain basic service platform and the development of key areas such as government affairs, cross-border trade, supply chain, finance, metaverse and data element circulation, the statement continued. The Shanghai government will also look to support the development of zero-knowledge proofs. To address the need for improving the efficiency and usability in the space, the city aims to enhance the performance of general zero-knowledge proof protocols, the statement said. “By 2025, the efficiency of zero-knowledge proof algorithm proof generation would be improved by 2 times compared to similar international protocols like Plonk,” the Shanghai government said. Source: The Block
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