The blockchain industry is experiencing exponential growth as more businesses embrace Web3 technology. According to a 2025 survey conducted by Boosty Labs, nearly 90% of companies are either experimenting with or have already implemented blockchain solutions.
In a significant development, major banks like BBVA are now offering cryptocurrency services to their customers. For example, BBVA recently introduced 24/7 retail cryptocurrency trading, making it the first major financial institution in Spain to do so.
Privacy has emerged as a critical factor for the widespread adoption of blockchain and cryptocurrencies. Research from EY reveals that enterprises have been slow to adopt blockchain due to privacy concerns. Tomer Weller, Chief Product Officer at the Stellar Development Foundation, emphasized the importance of privacy for mass adoption, particularly for enterprises that rely on public ledgers.
To address privacy challenges, zero-knowledge proofs (ZKPs) have emerged as a promising solution. ZKPs allow for both transparency and privacy on blockchain networks. The Stellar Development Foundation has made significant strides in implementing ZKPs, making it easier for developers to create privacy-focused applications using tools like the Noir programming language.
Advancements in ZKPs have made it more accessible to developers, moving from academic theory to practical application. Tools like NoirLang and Leo enable developers to write ZK applications in familiar programming languages, reducing the learning curve. Additionally, open-source kits like zkVerifyJS and APIs provided by Horizen’s Relayer simplify the process of verifying proofs, making ZK technology more mainstream.
The rise of Zero-Knowledge Virtual Machines (zkVMs) is also shaping the future of blockchain technology. Unlike traditional VMs, zkVMs incorporate cryptographic processes to ensure privacy and security. Stellar’s partnership with Nethermind to bring the Risc0 verifier to its platform demonstrates the growing importance of zkVMs in the blockchain industry.
Industry experts believe that ZKPs will play a crucial role in scaling blockchain and crypto adoption. However, challenges such as speed, efficiency, and succinctness must be addressed to ensure widespread adoption. The launch of the Aztec Network’s mainnet and the integration of cutting-edge ZK innovation into the Stellar protocol signal a promising future for privacy-focused blockchain applications.
In conclusion, ZKPs are evolving from theoretical concepts to practical solutions that will drive mainstream adoption of blockchain technology. As developers continue to innovate in this space, the future of blockchain looks brighter than ever before.