Post
Topic
Board Announcements (Altcoins)
Re: Official Anoncoin chat thread (including history)
by
lunokhod2
on 22/09/2014, 15:07:09 UTC
No, you don't need to trust anyone. You can verify how the accumulator works before compiling your code if you like. (ignore back on.)

We will be able to verify how the accumulators works with the opensource code but the problem is no that.
The problem is that Gnosis will generate the keys (RSA) of these accumulators.
There is nothing trustless. You need to trust that Gnosis is honest and will not keep the factors to forge zerocoin proofs and then infinite ANC.
Source: https://wiki.anoncoin.net/Zerocoin#Zerocoin_in_practice (Section: Criticisms, fourth paragraph)

If gnosis has his own rsa ufos - with factors - then he had 8 core years squirrelled away in his basement ? get real !!! You cannot fake the numbers nor the work needed to work them out.

But, even if Gnosis had an alternative set of RSA UFOs, these wouldn't work with Zerocoin. The ZC mint transactions use the agreed upon value of N (the rsa ufo), and the spend transaction uses the same value of N. Miners verify that this is done correctly. There is no back door.