Zero Knowledge Proof (ZKP) is an extremely powerful pairing of security and efficiency that makes them extremely useful for privacy-preserving applications. ZKP' security is rooted in hard mathematical assumptions and cryptography—so that one party can prove knowledge of information without revealing information itself.

At the performance level, there have been recent advances that hugely improve the scalability and speed of ZKP, especially with solutions like zk-SNARKs and zk-STARKs. These schemes minimize computational overhead while maintaining strong security guarantees. For example, zk-SNARKs provide short proofs that are simple to verify in a short period of time and enable uses like private blockchain transactions and identity verification.

However, performance can also vary depending on the application-specific ZKP protocol and instantiation. Some can require trusted setups, and some highlight transparency and quantum security. Generally speaking, the balance between performance and security in ZKP is also quickly improving, and they become viable for real-world application with a need for privacy and efficiency.

If you are searching for in-depth comparisons or implementation tips, I recommend exploring sources on zk-SNARKs, zk-STARKs, and ZKP scalability breakthroughs over the recent past.