Zcash

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Holden Macbeth

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Oct 11, 2016, 6:48:37 PM10/11/16
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Zcash launches on 28th October 2016 - Looks to me like an interesting advance on Bitcoin offering privacy and selective transparency of transactions.

Zcash payments are published on a public blockchain, but the sender, recipient, and amount of a transaction remain private.”


further information :-

https://z.cash/



Privacy technology for blockchains

Ash Moran

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Oct 13, 2016, 4:02:16 PM10/13/16
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From what I’ve read, the launch of Zcash absolutely must be done right. I don’t understand the cryptography, but I skimmed one article that explained it. The system will be created with an initial public-private key pair, as used in Bitcoin. But in Zcash, the private key *must* be destroyed, otherwise it will be possible for the creators to inflate the money supply in future.

I find these new ultra-private cryptocurrency schemes fascinating but scary. If something like Zcash (or Monero, or Mimblewimble) has a flaw in its cryptography, it may be much, much harder to see that something has gone wrong. But if it works and can be made fast enough, it will be a huge step forward.
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MaxSan

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Oct 22, 2016, 10:10:00 AM10/22/16
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Zcash has issues regarding the trusted setup process? Has this been sorted yet? I feel trusting the issuers of the currency in a process where they can create infinite amounts of a currency and nobody knows it is happening is... concerning lol. Pretty big trust profile to hope doesn't happen!

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Matthew Holt

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Oct 26, 2016, 11:37:02 AM10/26/16
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The way Zcash is built with it's trusted setup I believe that users will always have to trust that the developers don't act maliciously.  There's a project called Anoncoin who are working on a zero knowledge proof coin and with their coin you don't have the 'trusted setup' dilemma.  Development is quite slow though with Anoncoin and they don't have ZKP transactions enabled yet.

Matt
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