ZCoin XZC

$6.73
Market Cap $ 47.277 MM (#94)
24h Volume $ 887.715 K
Chg. 24h: 0.47%
Algo. score 4.1/5  (#30)
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ZCoin News

Kudos for knowing about Lelantus. Another 1 XZC winner @Ray...

Kudos for knowing about Lelantus. Another 1 XZC winner @Rayrcsc https://t.co/juyyRCUIY9

4 days ago

We really liked this one so we are awarding the 10 XZC to @N...

We really liked this one so we are awarding the 10 XZC to @NiklasGoeke. It was a tough decision as it only covered… https://t.co/pyRWow1iQ9

4 days ago

Zcoin $XZC is now listed on @CryptofacilEX to serve the Lati...

Zcoin $XZC is now listed on @CryptofacilEX to serve the Latin American and Caribbean markets (powered by… https://t.co/zPvUZdlexw

6 days ago

We are giving 10 $XZC to the person who replies to this twee...

We are giving 10 $XZC to the person who replies to this tweet with the best quick explanation of what Zcoin is to s… https://t.co/xgDFf0eW9v

6 days ago

Vote for Zcoin $XZC on #ResDEX The winning project will rece...

Vote for Zcoin $XZC on #ResDEX The winning project will receive 15% of the trading fees of their Decentralized Exch… https://t.co/vEat5pkZ50

7 days ago

Spend your Zcoin $XZC with PolisPay's Mastercard®! Zcoin re...

Spend your Zcoin $XZC with PolisPay's Mastercard®! Zcoin recently got integrated with multi-currency wallet… https://t.co/rPA3Pfy7w2

7 days ago

Happy for Zcoin $XZC to be listed on another DEX! @DynXoffic...

Happy for Zcoin $XZC to be listed on another DEX! @DynXofficial is built on the BitShares blockchain. https://t.co/vfjfvnBlrW

8 days ago

Catch our Zcoin Boston ambassador @JMKmotorsports at the MIT...

Catch our Zcoin Boston ambassador @JMKmotorsports at the MIT Bitcoin Expo today who will be introducing Lelantus, Z… https://t.co/gjIgSkSZyD

11 days ago

For those of you who missed the Zcoin AMA on Binance yesterd...

For those of you who missed the Zcoin AMA on Binance yesterday, you can find the transcript here:… https://t.co/EUGphvAjbP

12 days ago

Zcoin's AMA on @binance will be going live in around 2 hours...

Zcoin's AMA on @binance will be going live in around 2 hours on https://t.co/ZtVDON50wK. 100 $XZC and 3x Zcoin swag… https://t.co/PpmBF0441U

14 days ago

Where and How to Buy Zcoin (XZC)

What is Zcoin? Zcoin, also known as Zerocoin, is an open source and decentralized cryptocurrency with a very strong focus on achieving privacy and anonymity for its users. The project has made numerous headlines during its lifetime thanks to one of the most advanced cryptography, zero-knowledge, protocols to date. In short, the algorithm that makes […]

15 days ago

Want to learn more about our new privacy protocol Lelantus? ...

Want to learn more about our new privacy protocol Lelantus? Catch our Zcoin Boston ambassador Matt at the MIT Bitco… https://t.co/5X6Z9sKkEX

17 days ago

Check out this detailed guide on @HashRaptor's experience of...

Check out this detailed guide on @HashRaptor's experience of mining using MTP on Zcoin $XZC! https://t.co/pWzdJNJvZw

18 days ago

Zcoin $XZC Development Update 28 February 2019 Lelantus bui...

Zcoin $XZC Development Update 28 February 2019 Lelantus building blocks completed, Sigma testnet approaching along… https://t.co/XSnWzyzyUl

19 days ago

Happy to announce another Zcoin #XZC wallet integration! @Ma...

Happy to announce another Zcoin #XZC wallet integration! @Magnum_Wallet is a light web wallet that makes it easy to… https://t.co/3QjKbfyvym

20 days ago

Daily Berminal Brief: Binance's Trust Wallet Adds Support For Privacy Coins, And Switzerland's Third Largest Bank Integrates Crypto

The State of The Market - February 27, 2019 BTC: $3,876.27 (+0.62%) ETH: $140.38 (+2.07%) XRP: $0.318235 (-0.91%) The market continued to make small gains today, adding nearly $1.5 Billion to the total market cap in the last 24 hours. Most cryptocurrencies are up by less than 1% in the last 24 hours. Also, Coinbase enabling XRP trading yesterday had very little effect on its price. Ethereum is expected to become volatile over the next couple of days as we near Constantinople hard fork. Historically, there has been significant price action around Ethereum upgrades. In other news, at the Mobile World Congress this week, HTC revealed that it is making its blockchain phone EXODUS 1 more widely accessible by accepting the US Dollar and other fiat currencies. Additionally, they'll accept more cryptocurrencies such as Binance's native currency BNB token. HTC's decentralized chief officer said this is the core launch after last year's early access period. The phone will retail at $699 and is only available online. Also, Sony, the Japanese multinational conglomerate, and the IT equipment services firm Fujitsu have announced a recent collaboration that resulted in the creation of a blockchain-based encrypted database for educational proficiency documents. The goal of the platform is to help prevent forgeries of language proficiency documents that some foreigners are reported to use in order to receive resident status to study in Japan. The platform was created by combining Fujitsu's online learning system with a blockchain developed by Sony subsidiary Sony Global Education Inc. 1) Trust Wallet, a cryptocurrency wallet acquired by Binance last year has added support for Zcoin and Zcash. This is the first time that Trust Wallet will be supporting privacy coins. Trust Wallet is also set to support Binance's upcoming decentralized exchange, Binance DEX. Commenting on the new additions, Trust Wallet founder Viktor Radchenko said, "Privacy is one of our core values, as it is an inherent human right. For us, it is very important to support as many privacy feature coins as possible." Zcoin was the first cryptocurrency to pioneer Zerocoin Protocol and implement Merkle Tree Proofs. Zcoin's blockchain was recently used to conduct an election in Thailand's Democratic party and more than 120,000 votes were cast worldwide. 2) On Tuesday Julius Baer, Switzerland's third-largest bank announced that it had partnered with SEBA Crypto to offer its clients crypto storage and trading services. This is the second significant partnership that SEBA Crypto has secured as the institution also secured a contract with Switzerland's Falcon Private Bank in January. The news from Julius Baer follows last week's announcement that JPMorgan and Mizuho would use platform-specific digital currencies for remittance and payment settlement. Julius Baer Head of Markets Peter Gerlach said that the bank believes in digital assets' long-term performance and he is sure they will become "a legitimate sustainable asset class of an investor's profile." SEBA was launched by two former UBS executives and the duo raised $103 to build the crypto bank. Currently, the startup is attempting to obtain a banking and securities dealer license from Switzerland's top regulatory body (FINMA). The partnership also shows that in spite of the long-term bearish trend, institutions remain bullish about the long term prospects of the crypto sector. 3) JP Morgan CEO Jamie Dimon suggested that the company's new JPM Coin could eventually be used for day to day retail payments by consumers. Dimon told CNBC, "JP Morgan Coin could be internal, could be commercial, it could one day be consumer." The debut of JPM Coin makes J.P. Morgan the first major U.S. bank to design its own cryptocurrency and the bank explained that the coin is "designed to settle transactions between clients of its wholesale payments business, specifically for international payments and securities transactions that migrate to the blockchain." Many believe Dimon's comments are purely speculative as the bank's website does not mention any future plans for JPM Coin to be accessible to individuals. (VS)

20 days ago

Binance's Trust Wallet Adds Support For Zcash and Zcoin

Trust Wallet, a cryptocurrency wallet acquired by Binance last year has added support for Zcoin and Zcash. This is the first time that Trust Wallet will be supporting privacy coins. Trust Wallet is also set to support Binance's upcoming decentralized exchange, Binance DEX. Commenting on the new additions, Trust Wallet founder Viktor Radchenko said, "Privacy is one of our core values, as it is an inherent human right. For us, it is very important to support as many privacy feature coins as possible." Zcoin was the first cryptocurrency to pioneer Zerocoin Protocol and implement Merkle Tree Proofs. Zcoin's blockchain was recently used to conduct an election in Thailand's Democratic party and more than 120,000 votes were cast worldwide. (VS)

21 days ago

Find out how Zcoin $XZC has been coping in this bear market....

Find out how Zcoin $XZC has been coping in this bear market. @reubenyap gives a frank talk on the challenges faced… https://t.co/WFRxUPMTAR

23 days ago

Binance's Charity Wing Launches Blockchain-Powered School Lunch Campaign

A blog post from Binance announced that the crypto exchange’s charity arm has launched a blockchain-based lunch program in African schools. The Binance Charity Foundation (BCF) unveiled the pilot program dubbed “Lunch for Children” in Uganda’s capital city Kampala and the program will provide two daily meals to more than 200 students and school staff for the remainder of 2019. The program is part of a larger Ugandan campaign that Binance says will help 1 million students in schools across Rwanda, Kenya, and Ethiopia. BCF’s donation system is funding the program and a Zcoin team member reported that its investors donated $24,000 worth of cryptocurrency to support students and staff at the Jolly Mercy Learning Center in Kampala. (RS)

a month ago

Binance Debuts Blockchain Charity Initiative

Crypto isn’t known for its generosity, but Binance is using blockchain to increase transparency for donations. The Binance Charity Foundation, the philanthropic arm of the leading cryptocurrency market, has revealed a pilot program for cryptocurrency donations to Binance’s “Lunch For Children” Program. The program was launched at a ceremony and lunch at the Jolly Mercy Learning Centre in Kampala, Uganda, on Tuesday. More than 500 students, parents and other guests attended, including the Minister of State for Primary Education, Rosemary Nansubuga Seninde. The headmaster of the Jolly Mercy Learning Centre, Dr. James Ssekiwanuka, praised the innovative use of blockchain technology. “It is not only a donation but a disruptive and significant combination of technology and charity,” Dr. James Ssekiwanuka said, “which enables a higher level of trust between stakeholders involved in this process, because people are protected from potential corruption that is vulnerable with middlemen.” Although Uganda has long been a destination for aid, charity is also a business. High overhead and aid infrastructure means most beneficiaries see only a fraction of donated funds. Using blockchain technology, donors can trace every penny of their contributions. According to Binance’s announcement, donations will be made directly to the cryptocurrency wallets of the childrens’ parents or guardians, who will then send those assets to the suppliers’ wallets for the students’ meals. “Everything will be on the chain and can be verified by everyone,” Binance said. “All the allocation records are demonstrated on the blockchain which is immutable,” Dr. Ssekiwanuka confirmed. “I firmly believe that the public trust and willingness to participate in this intervention will grow dramatically as the donors see their goodwill changing the lives of the students, in real time.” In addition to Binance, the Zcoin team made a 24,000 donation. “We were intrigued especially when we learned how the funds were directly traceable to the direct end recipient and how they ensured that those cryptocurrencies could be spent on goods,” explained Reuben Yap, Zcoin’s COO. He continued: “Although we’re a privacy coin, in this case, blockchain donations allows full end to end traceability of funds for transparency and accountability. We are hopeful that Lunch for Children sets a good first model in using cryptocurrency for donations and builds awareness of the potential of blockchain technology in charity.” The inaugural program will feed 200 students for a full year, the BCF is already planning expansions to Kenya, Rwanda, and Ethiopia. They eventually hope to benefit one million people in the developing world. Donations can be made in Binance Coin (BNB), Bitcoin (BTC) or Ethereum (ETH), and can be easily tracked, here. At present, Binance claims 51 donations to 95 beneficiaries, totaling 7.7 BTC, or over $30,000 USD at the current exchange rate. The Lunch for Children program has pledged to continue uploading photographs and information as the project progresses. The author is invested in Bitcoin and Ethereum, which are mentioned in this article. Join the conversation on Telegram and Twitter! The post Binance Debuts Blockchain Charity Initiative appeared first on Crypto Briefing.

a month ago

NiceHash Adds MTP Algorithm for Zcoin (XZC) Mining in Response to User Demand

Crypto mining marketplace Nicehash has added support for the MTP algorithm, which gives users the opportunity to mine Zcoin (XZC). According to the announcement, the “Merkle Tree Proof (MTP) algorithm is a proof-of-work algorithm used by Zcoin.” To participate, miners should download the lastest NiceHash Miner Legacy on the company’s website. Zcoin followers on social media criticized Zcoin, suggesting that this was not a good move for security; specifically, they suggest it could “open the door to a 51% attack.” The Zcoin team responded, saying: “We didn't apply to be added to Nicehash nor have we been in touch with their team. They added us on their own accord as there was demand for it.” Zcoin went on to say that they are looking into “implementing secondary validation layers” for mitigating 51% attacks and that they “particularly like Dash's LLMQ based chain locks but need time to evaluate it further.” (GT)

a month ago

Our Zcoin UAE Ambassador Prashanth speaking on privacy on th...

Our Zcoin UAE Ambassador Prashanth speaking on privacy on the blockchain and spreading the Zcoin $XZC virus at ACM… https://t.co/sSgcCh5PsU

a month ago

@mandumochi @malfionctioning Seems like they have a cryptocu...

@mandumochi @malfionctioning Seems like they have a cryptocurrency called Z project and although we are the Zcoin p… https://t.co/JJc4D4Qlp1

a month ago

Zcoin $XZC is now available for direct purchase and selling ...

Zcoin $XZC is now available for direct purchase and selling with AUD 🇦🇺on @CointreeAus , one of Australia's oldest… https://t.co/IXjcUAyTh2

a month ago

On Valentine's day ❤️the Zcoin team has been hard at work be...

On Valentine's day ❤️the Zcoin team has been hard at work because our first love is Zcoin $XZC. Read our latest dev… https://t.co/z1hMk1iwsR

a month ago

Happy to have another fiat gateway for Zcoin $XZC with GBP, ...

Happy to have another fiat gateway for Zcoin $XZC with GBP, EUR and USD support. @bc_bitcoin https://t.co/Ipq1yTxZwx https://t.co/9eadumyeBk

a month ago

@el33th4xor @zooko Zcoin does actually and has happened. The...

@el33th4xor @zooko Zcoin does actually and has happened. The use of fixed denominations along with the requirement… https://t.co/rlmeDdouGE

a month ago

Zcoin $XZC is happy to be launched on @txbit_io with privacy...

Zcoin $XZC is happy to be launched on @txbit_io with privacy as a focus, requiring only an email address to have fu… https://t.co/EL37visJa4

a month ago

Zcoin is proud to continue making monthly donations to the @...

Zcoin is proud to continue making monthly donations to the @Free_Ross fund. Stay strong @RealRossU and Lyn. https://t.co/sYiYQdMJIy

a month ago

We made it to the short list! We need your help again to vot...

We made it to the short list! We need your help again to vote for Zcoin $XZC to be featured on @binance's AMA. Than… https://t.co/1zL7QylaVA

2 months ago

If you're a Zcoin $XZC fan, show some love by commenting on ...

If you're a Zcoin $XZC fan, show some love by commenting on Binance's tweet ❤️ https://t.co/CKJUGCZJJ5

2 months ago

@luckygamesio Hi has the Zcoin wallet been updated? The late...

@luckygamesio Hi has the Zcoin wallet been updated? The latest version is 13.7.7. Some of our users are reporting t… https://t.co/bSMAtG5I9I

2 months ago

We are excited to be integrated into @thisAppBitcoin to make...

We are excited to be integrated into @thisAppBitcoin to make it easy to get merchants to accept Zcoin $XZC without… https://t.co/gi6sq5VBHG

2 months ago

Zcoin Founder Allegedly Targeted by ‘Government-Backed Attackers' Over Crypto’s Blockchain

Poramin Insom, the founder of the privacy-centric cryptocurrency Zcoin (XZC) is allegedly being targeted by “government-backed attackers” who are attempting to steal his Google account login credentials, the tech giant has warned.

2 months ago

New Zcoin wallet 0.13.7.7 release out! This is an optional u...

New Zcoin wallet 0.13.7.7 release out! This is an optional update and mainly a stability and bug fix release. Read… https://t.co/dSAobplU0f

2 months ago

Google Warns ZCoin Founder Against Government-Hired Hackers Going at His E-mail

The founder of ZCoin platform, Poramin Insom, has shared that the Google alert system has notified him of an attempt by Thai government to hack his e-mail box

2 months ago

Zcoin Founder Receives Google Alert that Government Sponsored Hackers are Attacking His Email

Poramin Insom, the founder of Zcoin (XZC), recently posted an alert he received from Gmail indicating that government-backed hackers may be attempting to compromise his email account. Many see the move as pushback from the government of Thailand, which is known for being heavy handed on political activists and dissidents who speak out about the country’s ruling royal family. Google instituted the warning system in 2012 to alert users of apparent attempts to compromise their Google accounts by state-backed entities. (JF)

2 months ago

Great community video on how to mine Zcoin with MTP! $xzc @z...

Great community video on how to mine Zcoin with MTP! $xzc @zcoinofficial Help spread the hash rate! https://t.co/jmJJipizMr

2 months ago

Privacy Coin Zcoin Urges Miners to Diversify Hashrate to Keep Coin Decentralized

Zcoin (XZC), which is based on the Zerocoin white paper for cryptography, is available in the MTP protocol for test mining in Zergpool. Zcoin recently underwent a hard fork from the proof-of-work consensus algorithm to MTP. The Zcoin team urged miners to “spread some hashrate to Zergpool...to help keep Zcoin decentralized!” Zcoin mentioned diversifying away from the 2miners pool, which boasts an annual ROI of 55% for masternodes. Zcoin is similar to Zcash in that it uses zero-knowledge proof technology for privacy. Zcoin shed 2% in the last 24 hours to $5.17 and is among the top 100 cryptocurrencies. (GT)

2 months ago

OpenBazaar Launches Haven, A Privacy-Focused Social Network And Marketplace

Decentralized crypto marketplace platform OpenBazaar has launched their social app called Haven. It has a feed similar to that of Facebook where users can respond, like, or comment on posts. In addition to that, Haven has also integrated a marketplace and cryptocurrencies. Users can shop and send cryptocurrencies within the app. Haven focuses on privacy with its blockchain features. It currently supports Bitcoin, Bitcoin Cash, Zcoin, and Litecoin. Unlike other social networking platforms, Haven makes sure that there is no misuse of user data. (VS)

2 months ago

Haven, a New App From OB1, Lets Users Chat, Shop and Send Crypto Privately

Blockchain startup OB1, the developers of decentralized shopping platform OpenBazaar, have announced Haven, a privacy-focused app for socializing with friends and making purchases with cryptocurrencies.The project was announced by Brian Hoffman, founder and CEO of OB1, at the North American Bitcoin Conference in Miami. The developers claim that Haven will “enable users to shop, chat, and send cryptocurrencies privately from their mobile device.”The ability to chat with friends and family on social networks has been tainted with data breaches and reports of the networks tracking user activity and selling collected data to third parties.According to a company announcement, Haven will have a little bit of everything. It will "combine a multiple-cryptocurrency wallet, a social network and a truly peer-to-peer marketplace" for an inclusive economy and global participation with a focus on privacy.Users can set up an e-commerce store using just their smartphones. They can also purchase items through the marketplace using cryptocurrencies like bitcoin. To speed up the shopping process, Haven features a multi-wallet where you can keep, receive and send the four cryptocurrencies supported on the platform: bitcoin, bitcoin cash, zcoin and litecoin.Haven comes with a social feed, complete with features that allow users to share, like, comment and repost, prominent on the app.To ensure a secure shopping experience, Haven leverages the OpenBazaar software and InterPlanetary File System (IPFS), a decentralized and distributed file storage system.OpenBazaar is an open source project for building decentralized e-commerce stores that doesn't require go-betweens to function. Think of it as an eBay without fees.“We believe users should be in control of their own data and are inspired by how cryptocurrencies allow them to trade with one another around the world. Users can connect this way now without needing access to traditional payment processors or using giant e-commerce platforms that collect all their personal data,” Hoffman explained in the company announcement.“Haven is OB1’s most advanced project representing our mission to bring a convenient but private social marketplace experience to users.” This article originally appeared on Bitcoin Magazine.

2 months ago

PvP coin flipping with Zcoin $XZC on @CrownsCrypto ...

PvP coin flipping with Zcoin $XZC on @CrownsCrypto https://t.co/NmxINKoNcg

2 months ago

zk-SNARK Glitch Could Result In Crypto Double Take

Fundamental flaws with zk-SNARKs, the privacy algorithm used in Zcash (ZEC), may allow malicious agents to mint additional tokens, according to the COO of a rival privacy coin. Reuben Yap, the Chief Operating Officer at Zcoin (XZC), says that unproved cryptographic assumptions and possible bugs with zk-SNARKs place blockchains using the algorithm - like Zcash - at a security risk. Believing it to be a “very real threat,” hackers may be able to exploit this weakness, enabling them to double-spend on the network, Yap argues. “The main disadvantage of zk-SNARKs... is the fact they [sic] rely on relatively new cryptographic security assumptions,” Yap said, in an email exchange with Crypto Briefing. “A flaw in the cryptography...will allow an attacker to create coins out of thin air without being detected.” What are zk-SNARKs? zk-SNARK, short for zero-knowledge succinct non-interactive arguments of knowledge, is an algorithm that can check the validity of a transaction while simultaneously keeping confidential or personal information private, otherwise known as zero-knowledge. Zcash was the first coin to use zk-SNARKs, but other cryptocurrencies have expressed interest. Platform network TRON (TRX) announced plans to integrate the algorithm in early December. What are the vulnerabilities? zk-SNARKs algorithm rests on an assumption known as the first Knowledge of Exponent Assumption - KEA1. Formulated more than a decade ago, it simply states that transactions must be correct if they have a certain output. This is what makes zero-knowledge privacy possible. KEA1 is the linchpin for zk-SNARKS and the foundation for any blockchain which uses the algorithm. KEA2, a later cryptographic assumption, was conclusively falsified in an academic paper published in 2004. Yap admits that no one has yet managed to break KEA1, but that doesn’t mean it’s completely watertight. Now that billion-dollar networks use zero-knowledge tech- with more looking to adopt it - there are obvious incentives for malicious agents to break it. Someone able to crack KEA1 would have an unrestricted ability to print tokens and double-spend at will, without anybody knowing. “If the assumption breaks, then the cryptography breaks. If the cryptography breaks then it would be possible to fake proofs and potentially more,” Yap wrote. Are trusted setups...’trustworthy’? Other figures have expressed concern over zk-SNARKs, mostly around the need for a ‘trusted setup.’ A trusted setup is an event where cryptographers create a public key, needed to generate and verify proofs, and destroy the associated private key to prevent malicious actors from subverting the protocol. Cryptographers from all over the world participate, each of whom has a small part of a private key. A public key is assembled from the numbers, whereas fragments of the private key - known as “toxic waste” - are destroyed. Anyone with access to the private key would have been able to mint tokens at will. Therefore, there is a significant incentive for someone to create a backdoor. Zcash went to extreme lengths - even destroying the computers involved in the original 2016 ceremony - to ensure all parts of the private key were destroyed. However, oversights - like the fact that part of the software was not verified, and only released a day before the ceremony - could put the network in peril. Developer Peter Todd, who participated in the 2016 ceremony, says that a compromise in the trusted setup would also compromise privacy. He believes the network’s parameters can be constructed in such a way that “absolutely can wreck privacy:” There’s been some claims made recently that a compromise of the Zcash trusted setup can’t compromise privacy. I checked with one of the cryptographers working on zk-SNARKs, and these claims are false. A compromised MPC absolutely can wreck privacy; Zooko needs to correct this. pic.twitter.com/07tfMQQurL — Peter Todd (@peterktodd) September 27, 2018 This could throw wrenches into the works of a currency mainly distinguished by enhanced anonymity. “What’s at stake here is that if the parameters were not destroyed correctly, someone can create coins out of thin air without being detected,” Yap wrote. “If the ceremony was compromised, the overall privacy may be broken, unveiling transaction and user details.” “Above my paygrade” Zcash is known as a privacy protocol, but few transactions used zk-SNARKs until quite recently. Prior to the Sapling update, the algorithm took significant computational power, making transactions prohibitively expensive. Sapling, which went live in late October, drastically reduces the amount of computational power required, even making it possible to send zk-SNARKs-enabled transactions from mobile devices. Zcash has also been added to some of the most exclusive cryptocurrency exchanges. Coinbase only listed the privacy coin at the end of November. Gemini’s ZEC-USD trading pair is popular, with a trading volume worth $250,000 in the p

2 months ago

Zcoin COO Claims zk-SNARK Glitch Could Result In Crypto Double Take

Fundamental flaws with zk-SNARKs, the privacy algorithm used in Zcash (ZEC), may allow malicious agents to mint additional tokens, according to the COO of a rival privacy coin. Reuben Yap, the Chief Operating Officer at Zcoin (XZC), says that unproved cryptographic assumptions and possible bugs with zk-SNARKs place blockchains using the algorithm - like Zcash - at a security risk. Believing it to be a “very real threat,” hackers may be able to exploit this weakness, enabling them to double-spend on the network, Yap argues. “The main disadvantage of zk-SNARKs... is the fact they [sic] rely on relatively new cryptographic security assumptions,” Yap said, in an email exchange with Crypto Briefing. “A flaw in the cryptography...will allow an attacker to create coins out of thin air without being detected.” What are zk-SNARKs? zk-SNARK, short for zero-knowledge succinct non-interactive arguments of knowledge, is an algorithm that can check the validity of a transaction while simultaneously keeping confidential or personal information private, otherwise known as zero-knowledge. Zcash was the first coin to use zk-SNARKs, but other cryptocurrencies have expressed interest. Platform network TRON (TRX) announced plans to integrate the algorithm in early December. What are the vulnerabilities? zk-SNARKs algorithm rests on an assumption known as the first Knowledge of Exponent Assumption - KEA1. Formulated more than a decade ago, it simply states that transactions must be correct if they have a certain output. This is what makes zero-knowledge privacy possible. KEA1 is the linchpin for zk-SNARKS and the foundation for any blockchain which uses the algorithm. KEA2, a later cryptographic assumption, was conclusively falsified in an academic paper published in 2004. Yap admits that no one has yet managed to break KEA1, but that doesn’t mean it’s completely watertight. Now that billion-dollar networks use zero-knowledge tech- with more looking to adopt it - there are obvious incentives for malicious agents to break it. Someone able to crack KEA1 would have an unrestricted ability to print tokens and double-spend at will, without anybody knowing. “If the assumption breaks, then the cryptography breaks. If the cryptography breaks then it would be possible to fake proofs and potentially more,” Yap wrote. Are trusted setups...’trustworthy’? Other figures have expressed concern over zk-SNARKs, mostly around the need for a ‘trusted setup.’ A trusted setup is an event where cryptographers create a public key, needed to generate and verify proofs, and destroy the associated private key to prevent malicious actors from subverting the protocol. Cryptographers from all over the world participate, each of whom has a small part of a private key. A public key is assembled from the numbers, whereas fragments of the private key - known as “toxic waste” - are destroyed. Anyone with access to the private key would have been able to mint tokens at will. Therefore, there is a significant incentive for someone to create a backdoor. Zcash went to extreme lengths - even destroying the computers involved in the original 2016 ceremony - to ensure all parts of the private key were destroyed. However, oversights - like the fact that part of the software was not verified, and only released a day before the ceremony - could put the network in peril. Developer Peter Todd, who participated in the 2016 ceremony, says that a compromise in the trusted setup would also compromise privacy. He believes the network’s parameters can be constructed in such a way that “absolutely can wreck privacy:” There’s been some claims made recently that a compromise of the Zcash trusted setup can’t compromise privacy. I checked with one of the cryptographers working on zk-SNARKs, and these claims are false. A compromised MPC absolutely can wreck privacy; Zooko needs to correct this. pic.twitter.com/07tfMQQurL — Peter Todd (@peterktodd) September 27, 2018 This could throw wrenches into the works of a currency mainly distinguished by enhanced anonymity. “What’s at stake here is that if the parameters were not destroyed correctly, someone can create coins out of thin air without being detected,” Yap wrote. “If the ceremony was compromised, the overall privacy may be broken, unveiling transaction and user details.” Every time Zcash hard forks, like Power of Tau in early 2018, a new trusted setup has to be performed. “Above my paygrade” Zcash is known as a privacy protocol, but few transactions used zk-SNARKs until quite recently. Prior to the Sapling update, the algorithm took significant computational power, making transactions prohibitively expensive. Sapling, which went live in late October, drastically reduces the amount of computational power required, even making it possible to send zk-SNARKs-enabled transactions from mobile devices. Zcash has also been added to some of the most exclusive cryptocurrency exchanges. Coinbase only listed the privacy coin at the en

2 months ago

Zcoin $XZC working hard at our Bangkok office after our dev ...

Zcoin $XZC working hard at our Bangkok office after our dev meeting. In photo from left to right is Maria, Putta, R… https://t.co/OuyEQRS7Ej

2 months ago

@Scotty1063 @eblockcoin They do use the Zerocoin protocol wh...

@Scotty1063 @eblockcoin They do use the Zerocoin protocol which we were the first coin to implement but Zcoin is th… https://t.co/GBFC7nzCgy

2 months ago

@Scotty1063 @eblockcoin Appreciate that Zcoin is not tagged ...

@Scotty1063 @eblockcoin Appreciate that Zcoin is not tagged in this. Zerocoin is the protocol, Zcoin is the coin an… https://t.co/Ya3UOMB3oa

2 months ago

TRX/XRP pair goes live on Taiwanese exchange Bitrue

Bitrue, a Taiwanese cryptocurrency exchange, announced the launch of the much-awaited TRX/XRP pair today, on January 4. The exchange took to Twitter and announced that the pair was open for trading from today. The exchange said: “We’re thrilled to announce the launch of our most demanded $XRP-Base Pair: TRX/XRP! $TRX/ $XRP is open for trading now! @Tronfoundation + @BitrueOfficial @justinsuntron & @Curis_Wang @XTRA_HRDCOR_XRP @JesusXRP and more! Happy trading!” Bitrue had promised to add five pairs with XRP in December 2018 and has said that the rest will go live soon. The exchange will be announcing the remaining four pairs by the end of this week. At the time of the previous announcement, Bitrue had asked its followers of the pairs they wanted to see and Tron [TRX] and Cardano [ADA] seemed like a popular choice. Bitrue was the first exchange to add XRP as the base pair, before which there were exchanges which had added Bitcoin [BTC] and Ethereum [ETH] as the base pairs. Following Bitrue’s decision, Binance too added XRP as the base pair, with the initial pairs being announced as Tron [TRX], and Zcoin [XCZ]. Bitrue aims to provide transparency to the Initial Coin Offering [ICO] market by a profession selection of the ICOs. Bitrue CEO, Curis Wang, had previously stated: “Bitrue is committed to list only legitimate and promising tokens on our platform. With our professional process and team for currency selection, Bitrue is able to screen candidates and build a healthy environment for trading.” In terms of trading, the base currency is the currency using which users can buy other cryptocurrencies. The users will be able to use their XRP reserves to buy other cryptocurrencies. Wang had also stated during the launch: “Bitrue has made transaction safety the core element of its products, as more than 90% of user assets in its system are stored in cold wallets and critical messages are located in distributed storage systems with multiple clusters. The exchange has even created an internal risk control model with four certification levels, a multi-layer trading infrastructure, an independent trading domain and real-time monitoring capabilities.” Tron, the tenth-largest cryptocurrency was valued at $0.0202, with a market cap of $1 billion and a 24-hour trade volume of $120 million at the time of writing. Tron registered an overall growth of 7.53% over the past week. The post TRX/XRP pair goes live on Taiwanese exchange Bitrue appeared first on AMBCrypto.

3 months ago

Check out @tokenview2018's Zcoin $XZC explorer which also ha...

Check out @tokenview2018's Zcoin $XZC explorer which also has Korean, Chinese and Russian language support. https://t.co/Tjv2Tcn15T

3 months ago

@crypt0snews Hi Omar! The Binance listing of XZC on a XRP pa...

@crypt0snews Hi Omar! The Binance listing of XZC on a XRP pair was a pleasant surprise! We have committed to donate… https://t.co/vnjV9oBBVR

3 months ago


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