Re: [ANN][DASH] Dash | First Anonymous Coin | Inventor of X11, DGW, Darksend and InstantX
What is this?
https://z.cash/team.html
First time seeing or hearing of it. This all seems so very new only done on 1st February. Zero discussion on their side about darksend vs. them or anywhere else for that matter.
Is this some as a holder of dash one should be concerned about? What I am wondering what excites these guys and their investors when you already have something like darksend, or are these two things totally different?
This is their big idea:
https://forum.bitcoin.com/ama-ask-me-anything/i-m-zooko-wilcox-ceo-of-the-zcash-company-ask-me-anything-t5413.html
https://z.cash/team.html
First time seeing or hearing of it. This all seems so very new only done on 1st February. Zero discussion on their side about darksend vs. them or anywhere else for that matter.
Is this some as a holder of dash one should be concerned about? What I am wondering what excites these guys and their investors when you already have something like darksend, or are these two things totally different?
This is their big idea:
https://forum.bitcoin.com/ama-ask-me-anything/i-m-zooko-wilcox-ceo-of-the-zcash-company-ask-me-anything-t5413.html
Quote
To my question, can you explain at a high level or in laymen terms what makes zcash more anonymous or untraceable than bitcoin? What properties does it have and how is it able to achieve anonymity?
Quote
The high-level answer is like this:
Bitcoin is a global, shared, append-only ledger, right? And so is Zcash. The entries that get appended to that ledger the transactions basically say "From Address", "To Address", and "Amount Transferred". The difference between Bitcoin and Zcash is that in Zcash those three values are encrypted, so that they aren't publicly readable by default.
(The person who made a transaction could still make it be publicly readable, by publishing the decryption key, or could share the decryption key with selected parties to make it readable to them without making it readable to the world. That's what we call "selective transparency".)
So far so good.
Now the cryptographically challenging part is: how do we enable the miners and full-nodes to reject invalid transactions? This is where the zero-knowledge proofs come in. With zero-knowledge proofs, the creator of a transaction can include a proof that the transaction is valid (i.e. isn't a double-spend) without revealing anything about the encrypted "From Address", "To Address", or "Amount Transferred".
Bitcoin is a global, shared, append-only ledger, right? And so is Zcash. The entries that get appended to that ledger the transactions basically say "From Address", "To Address", and "Amount Transferred". The difference between Bitcoin and Zcash is that in Zcash those three values are encrypted, so that they aren't publicly readable by default.
(The person who made a transaction could still make it be publicly readable, by publishing the decryption key, or could share the decryption key with selected parties to make it readable to them without making it readable to the world. That's what we call "selective transparency".)
So far so good.
Now the cryptographically challenging part is: how do we enable the miners and full-nodes to reject invalid transactions? This is where the zero-knowledge proofs come in. With zero-knowledge proofs, the creator of a transaction can include a proof that the transaction is valid (i.e. isn't a double-spend) without revealing anything about the encrypted "From Address", "To Address", or "Amount Transferred".
good luck dealing with that company behind it
Zcash Electric Coin Company
https://z.cash/team.html
(and the 10% payment)
https://z.cash/blog/funding.html
i stick to Decentralised Funding via blockchain
The technology looks pretty shit hot, IMO.
The source code is open source, so having a company releasing the code is not an issue. They are maintaining it, but it can be forked at any point.
Don't make the Dodo mistake of thinking the new kid on the block is harmless. Darksend could be orders of magnitude less robust than zerocash when it comes to privacy.
You know, I've been talking to a lot of people who run exchanges at these conferences. There's a huge unintended benefit to Darksend. Basically when you mix via Darksend, you're reseting your history. Like clearing your browser history. After the fact when you're sending coins to an exchange from their prospective, address A (your pubkey) is sending address B (their pubkey) coins. What freaks these exchanges out is when it could be multiple people, completely unrelated to your public key that are sending them money (e.g. address A or B or C or D or E sent money to address F). All of these other technologies use something closer to the later, which will cause them to have less adoption in the long run, unless legal compliance gets easier over time... which I doubt.
TLDR; Some decent privacy and an easy to understand blockchain makes compliance easier.