Post
Topic
Board Altcoin Discussion
Re: Zerocash paper released
by
shekelsteingoyberg2
on 19/05/2014, 06:23:33 UTC
https://forum.cryptonote.org/viewtopic.php?f=2&t=18

"Another important note is about trusted setup in Zerocoin. In easy words the whole system is based on some secret values nobody should know (for example, this secret allows to make a double spend). How to acquire these values? ZC devs says: we can generate them and then "forget" OR we can implement the special algorithm to do in a distributed way at the system start (everybody know only his own part of the secret). The second option, of course, is preferable, but the problem of trust still remains: there is no way for new users to be sure they are not fooled by the early adopters, who has generated the secret values. As you guess, our system has no such trapdoors: every parameter is public, as in original Bitcoin. We consider this as a major advantage over ZC."

Essentially this means Israel/USA may control Zerocash completely. I'm tempted to say screw Zerocash.

Why should we entrust Zerocash?