Bulletproofs

Bulletproofs are short, non-interactive zero-knowledge proofs that require no trusted setup and shrink confidential transaction sizes by over 90 percent.

Developed by Bünz, Bootle, and Boneh in 2017, Bulletproofs replaced bulky range proofs in privacy-centric networks like Monero (XMR). By utilizing an inner-product argument, they reduce proof sizes from 4 KB to approximately 600 bytes for standard transactions. This logarithmic scaling ensures that validating multiple outputs remains computationally efficient for nodes. Because they rely on the discrete log assumption without a trusted setup (no 'toxic waste' ceremony), they provide a high-security floor for decentralized ledgers and private smart contracts.

https://eprint.iacr.org/2017/1066