Zk-Snarks Everywhere: Ethereum Privacy Tech Hits Tipping Point
via Blockfolio: goo.gl/p95yia
Zk-snarks means more than security, this article is fantastic! Also this sounds really cool, from article,
Announced to the crowd at Devcon3 today, zcash researchers Sean Bowe, Ariel Gabizon and Ian Miers proposed a new set-up ceremony – one that they believe can scale to hundreds of thousands of participants.
Bought a few Zcash expecting this trend…fingers crossed now!
I’m not getting overly excited by this. Assuming it is like the Ethereum Classic offering then it isn’t publicly listed and only available to accredited investors (who have a load of other options with the billion crypto hedge funds now in existence). I guess it has some tax advantages, but it seems quite restrictive. Their publicly listed GBTC is a horrible product due to the massive premium embedded in it over the underlying.
Longer term this all paves the way towards legitimate ETF products so it is welcomed but short term I don’t see this having any meaningful impact.
disagree!
https://grayscale.co/ethereum-classic-investment-trust/
market reacted well to ETC trust
current ZEC market has the same feel to me
oh well, we’ll see!!
Yes, I was discussing the similarity with the ETC offering. My point is this isn’t publicly listed and there are now a variety of options to qualified investors. Maybe I am underestimating the market for the more traditional large investors and financial advisor types. I’ll be more than happy to be proved wrong! I don’t think it’s a bad thing just I don’t see it as a huge catalyst.
imo, it’ll be good. if SEC approves the trust; they’ll need to sell their new fund to high networth investors. that cannot be a bad thing. catalyst, i’m unsure… good for exchange rate, yes.
From article-
The company chose Zcash for its third digital currency investment product because “we are excited about the potential for a privacy-focused digital currency and blockchain," said Silbert. "There’s a lot of utility and demand for that.” The firm had also found high investor interest in a traditional security based on Zcash that could be held in IRAs and 401(k)s.
A Mind-Bending Cryptographic Trick Promises to Take Blockchains Mainstream A Mind-Bending Cryptographic Trick Promises to Take Blockchains Mainstream | MIT Technology Review
honestly don’t feel this is a big deal. not ideal, but it’s a pool.
“It will be interesting to see how things play out in this regard. Zcash has lost some of its momentum since launching, but that is not entirely surprising.
That’s not because there is no real value to Zcash, mind you, but mainly that it’s >> flown under the radar for some unknown reason<<”
the problem with zcash is that it’s not an “user-friendly” coin, if you see some simmilar project they have official windows wallet, web-wallet , android wallet, discord channel, cool apps, big marcheting campaigns, etc. i’m ok (as a miner) being below the radar , but we must be alert to not miss the train
Patience zargon, nothing good ever got rushed
cannot read-it …i’m sure it’s a great piece
(like seeing an article written in italian)
Here you go:
ZCash is undoubtedly one of the most interesting criptovalutes in the digital currency landscape. Unlike the other criptovalutes, ZCash did not originate from mysterious Japanese characters or charismatic Russian-Canadian youth. Instead, it was created in the classes of the cryptography department of one of the most prestigious university of computer science in the world . This explains why ZCash is nothing but a miracle of engineering.
In May this year, the hacker collective The Shadowbrokers made an announcement. The group, which at that time had released computer exploits and zero-days stolen from the American National Security Agency (NSA) for about a year, revealed that it would switch to a subscription model. You can now subscribe to their “illegal monthly dump” of exploit. With everyone’s surprise, the price was not fixed in bitcoin. In contrast, the Shadowbrokers demanded 100 ZCash (about $ 23,000 in that period).
ZEC is the result of a project that has had its origins in the dusty classes of the Johns Hopkins University of Baltimore - famous for its cryptography department, where a team of “rock star scientists” led by Zooko Wilcox collaborated to improve the anonymity of bitcoin .
ZCash was based on the Zerocash project. The basic idea was that though the criptovalutes are anonymous, anyone can also get information mining the blockchain - for example, in terms of purchasing habits. Zerocash extends to any currency protocol to make it even more anonymous by creating a separate currency that exists along with the base coin. This technology allows a user to make completely confidential payments using, for example, two bitcoins and converting them to Zerocash. The new coin created has a zero knowledge test that the sender has the basic currency without revealing the value of the transaction or the identity of the possessor. The receiver can then return Zerocash to the base currency.
This project has led to the creation of a separate currency, the ZCash, which has all the features mentioned above, plus a couple extra. Sounds all very nerd, probably because it is, but the value of an added level of that advanced cryptography should not be underestimated, especially now that more and more governments are trying to put their rule hands on cryptovalutes.
ZCash was announced in January 2016 and trading began in October of that year. The price trend does not look like bitcoin at all. ZCash reached the peak just after launch, then collapsed immediately and did not give virtually vital signs since.
ZCash investors do not roll on roller coaster. Investing because they believe that sooner or later science at the base will bring the coin to higher levels. The fact that the ZCash Foundation has recently been recognized as a public charity, engaging in publicly improving anonymity and privacy on the internet, is a step in that direction.
Base technology has the potential to change the world and become the main public payment infrastructure .
nice! great piece! glad you did that… i was being lazy, and would’ve never read it… was a pleasure reading it. very nice!
Yes thank you for the translation!
Full disclosure: Not a Zcash mention, but I thought the news was interesting enough to post anyway.
There are a lot of players in the mobile payment space, but as many of you are aware, Square is one of the bigger ones. If you dream of buying a cappuccino with your Zcash someday, this is the type of news you’d like to see. For those with a good feel on the Zcash pulse…is anything like this discussed in the long-term plan?
At least its a mention