Post
Topic
Board Altcoin Discussion
Re: Zerocoin (Zerocash) paper released
by
stealth923
on 19/05/2014, 05:45:23 UTC
http://zerocash-project.org/q_and_a
"Zerocash requires a trusted entity to conduct a one-time setup of the parameters of the system. During the setup procedure, secret random bits are drawn and used to compute the public parameters; the random bits are then destroyed, and the parameters are broadcast. "

http://zerocash-project.org/media/pdf/zerocash-oakland2014.pdf
"This work was supported by: ; the U.S. Defense
Advanced Research Projects Agency (DARPA) and the Air
Force Research Laboratory (AFRL) under contract FA8750-
11-2-0211;"

If you held the key to something which could be worth alot of money or sell later on - would you destroy it.....Would you trust that process or if the key is sold to the highest bidder/NSA, unmasking the entire block chain only for them...

Not to mention massive single point of failure! - Crack the "random bits" used during setup...the entire currency becomes worthless...


No Thanks....