CryptoURANUS Economics: 08/24/19

CryptoCurrencies


Saturday, August 24, 2019

ZCash (ZEC): Defined in CryptoCurrency


ZCash (ZEC): Defined in CryptoCurrency is a decentralized open-source cryptocurrency that ensures privacy and selective transparency of transactions. 

Zcash coin payments are published on the public blockchain, but the sender, receiver and transfer amount remain confidential. 



The level of anonymity of Zcash is noted by many well-known companies and individuals. For example, WikiLeaks began accepting donations in Cash, Edward Snowden called cryptocurrency the most interesting alternative to Bitcoin, and Europol officially expressed concern about the increasing popularity of cryptocurrency. 


What is Zcash?
Zcash cryptocurrency is based on the protocol of Bitcoin, however, it supports its own blockchain and currency token. Like Bitcoin, Zcash cryptocurrency can be sent around the world and exchanged for other crypto or fiat currencies through online exchanges, personal transfers etc.

The emission capacity of Zcash coin makes out 21 million coins, new blocks with the size of 2 Mb are being created every 2.5 minutes. The block reward makes out 12.5 ZEC and will be reduced twice every 4 years starting from the moment of launch in October 2016.

The main technical peculiarity of Zcash is the use of the zero-knowledge proof, which allows to confirm transactions without disclosing additional information and makes the use of the crypto currency totally anonymous.

History:
In 2014, zerocoin developers from Johns Hopkins University and cryptographic teams from Massachusetts Institute of technology, Israel Institute of Technology and tel Aviv University developed the zerocash Protocol. Together they were able to improve the original design, making it more efficient and more private.
"Thanks to the New zerocash Protocol, unlike Zerocoin, users can make direct payments to each other using a much more efficient cryptographic Protocol that hides not only the origin but also the amount of the payment"
The zcash for the project was officially announced as the Executive Director Zuko Wilcox. January 20, 2016 as the evolution of the Existing zerocoin project (work of Matthew green, Ian Mayer, Christina Harman, Aviel D. Rubin, Johns Hopkins University, Department of computer science).

With the use of the new Protocol appeared independent cryptocurrency Zcash (ZEC), ceased to be a "Supplement" to bitcoin. On October 28, 2016, Zuko Wilcox held the official" cryptographic ceremony " of the Zcash launch.


Zero-knowledge proof
Zero-knowledge proof is a cryptographic principle that allows to check transactions with encrypted data of the sender’s address, receiver’s address and the transferred amount.

Zcash coin uses a specific type of the zero-knowledge proof that is called zk-SNARKs. For that end, in a Zcash transaction a data string (“key tuple”) is generated by the sender, which consists of a spending key, viewing key and billing address.

A sender cannot generate this string unless he possesses spending keys or the values of sending and receiving are not equal. Zk-SNARKs also creates a unique nullifying function, which marks the tokens as spent after the transaction completion.

Usually, a collection of a billing address, viewing and spending keys is encrypted and unavailable for users. In this way, the transaction check with the keeping the confidentiality of its details is carried out. However, Zcash can carry out public transaction too, providing all data of keys in this case.

KomodoCoin: Defined in CryptoCurrency



KomodoCoin:
Defined in CryptoCurrency



Komodo(KMD) is a cryptocurrency project that focuses on providing anonymity through zero knowledge proofs and security through a novel Delayed Proof of Work (dPoW) protocol.




Description
Komodo Platform Vision & Technology, Amsterdam June 2017
Komodo is a new standard for cryptocurrency security and anonymity. Protected by Zcash Zero Knowledger proofs, users can make 100% untraceable transactions.

The SuperNET team has also developed a hand full of individual tools that will stand together with Komodo to form a complete ecosystem with advanced functionalities like decentralized trading and mixing. Based on bitcoin dark and Zcash principles.


A new mining algorithm, dPoW (delayed proof-of-work), uses bitcoin network hash power- Anonymous team, but the main developer is well-kinown in the community and has frequently worked with the Super.NET project.

Komodo holders receive 5% annual percentage rate (APR) revenue. Every KMD holder will receive it, and it is indeed automatic as there are no settings to turn on, no modes to activate or no passwords to unlock. The 5% APR will remain until the max supply of 200M KMD is reached. Only T-address balances will get the APR.


The Komodo Platform was forked from Zcash by the SuperNET team and it is the evolution of the BitcoinDark cryptocurrency.

The KomodoCoin blockchain platform uses Komodo’s open-source cryptocurrency for doing transparent, anonymous, private, and fungible transactions.

They are then made ultra-secure using Bitcoin’s blockchain via a Delayed Proof of Work (dPoW) protocol. Komodo presents its decentralized (ICO) platform (dICO).

This technology guarantees coin developers a transparent coin offering while maintaining investor privacy through Komodo’s built-in privacy features.

For the first time in crypto history it’s possible to issue and distribute native cryptocurrencies without a trusted third party.


So a dICO doesn’t differentiate from other ICOs by decentralization only, it also needs Komodo Platform’s Jumblr technology to guarantee complete privacy for all ICO parties.

Knowing that dICO is on a Komodo Platform don’t require high fees as each asset chain is an independent blockchain secured by dPoW, enabling all dICO transaction fees to be paid with the dICO coin.

Zcoin: Defined in CryptoCurrency

Zcoin:
Defined in CryptoCurrency


Zcoin (XZC) is an open-source privacy-focused cryptocurrency token that launched in Sep 2016. To enable privacy, Zcoin uses zero-knowledge proofs via the Zerocoin protocol.



Zerocoin is a cryptocurrency proposed by Johns Hopkins University professor Matthew D. Green and graduate students Ian Miers and Christina Garman as an extension to the Bitcoin protocol that would add cryptographic anonymity to Bitcoin transactions.

With Zcoin’s Zerocoin feature, only the sender and receive would be able to ascertain the exchange of funds in a given transaction, as no transaction histories are linked to the actual coins. Zcoin operates a multi-node model where mining nodes verify blockchain transactions and Znodes store blockchain data.

Privacy-enhancing Technology, Zerocoin Protocol Zero-Knowledge Cryptographic Proofs.

In Bitcoin, all transactions are broadcasted on a public ledger. Research has shown that external information, such as publicly announced addresses, can be used to link identities and organizations to transactions. The default reuse of bitcoin addresses exacerbates this problem. 

Furthermore, the same type of mechanism used to break privacy in social networks, such as the analysis of social network topology, can be used to break privacy in the Bitcoin network.
 

Bitcoin and preceding alternative cryptocurrencies attempted to solve this problem through the use of transaction mixers or ring signatures.

However, there are a number of drawbacks to these proposed solutions. For one, a malicious or compromised member of a mixer and-or ring signature can break privacy the transaction mixer.

Furthermore, the anonymity set is a key metric to understanding how private a cryptocurrency is.  The anonymity set in formerly proposed solutions is limited by the size of the mixing cycle and-or ring signature.


Each mixing cycle and-or ring signature is limited by the number of transactions per cycle, which is transitively limited by the the block size of the cryptocurrency.

Thus, the anonymity set in previous attempts at privacy tends to only be a few hundred transactions.

With Zcoin, the anonymity set is on a dramatically higher magnitude. Instead of having an anonymity set limited to the few dozen, Zcoin has an anonymity set that encompasses all minted coins in a particular RSA accumulator that can scale to many thousands and unlike other solutions is not subject to transaction graph analysis.

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