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Zcoin Ethereum Mixer

Zcoin Develops Decentralized Mixer For Ethereum

Zcoin Develops Decentralized Mixer For Ethereum

Zcoin develops decentralized mixer for Ethereum The Zcoin team is in the process of creating a new type of so-called mixers or tumblers, which are servers used to mix the funds of some users with those of others enough times to make it impossible to trace their origin. The big difference is that this mixer will be specially designed for implementation in smart contracts, and does not actually require other users or a centralized server - a third party - to achieve its goal. While in services such as Bitcoin Fog the user must transfer their funds to a hidden server that may not give him the answer he expects, and also depends on the liquidity provided by other users so that their numbers are mixed; With Zcoin's mixer what happens is that the owner of the funds, after depositing them into a contract, receives anonymous tokens that mingle with the ethers in the transfers, thus protecting their true origin within the same decentralized platform of Ethereum. Although for now this idea is under construction, according to its official page, from Zcoin are working together with Vitalik Buterin for a possible implementation in Metropolis, the next hardfork of this blockchain, which plans to update it during the next months to offer much more security, scalability and privacy. On the other hand, this is not the only option considered by the developers of Ethereum to increase the anonymity of their transactions. The first to be considered was the zero knowledge protocol of Zcash, with which they are still collaborating for the same purpose. In fact, this new alternative is surprising, given that Zcoin is well below Zcash in terms of market capitalization and value per unit. Continue reading >>

Zcoin Achieves First Ever Implementation Of Merkle Tree Proof To Solve Miner Centralization Imbalance

Zcoin Achieves First Ever Implementation Of Merkle Tree Proof To Solve Miner Centralization Imbalance

Zcoin Achieves First Ever Implementation of Merkle Tree Proof to Solve Miner Centralization Imbalance Bitcoin PR Buzz July 28, 2017 10:15 am Privacy-driven cryptocurrency, Zcoin has announced that it will be implementing the first ever real-world application of MTP (Merkle Tree Proof) algorithm. The algorithm offers a high level of security, performance and egalitarian computing. Zcoin will also use Zero-Knowledge proofs for financial anonymity and privacy. Equihash project developers Alex Biryukov and Dmitry Kovratovich created Merkle Tree Proof (MTP) PoW together in a recent academic paper. MTP is designed to offer a resolution to the current disparity between regular CPU miners and simple power users who use GPU, FPGA and ASICs to gain an advantage over miners and fuel a cheap attack. The Zcoin development team has a specially coded MTP that is now currently running on the testnet. Zcoin aims to promote egalitarian computing to offer an equal price to cost ratio for a single computing unit, on all platforms. This precaution seeks to prevent any one device gaining an advantage over another and guarantee both users and attackers to have equal price-performance quotient conditions, thereby stopping any large-scale attacks. In recent times MTP hashing has become highly memory intensive, and with Zcoins reference implementation using 2 GB of RAM, machines infected by botnets would experience notable performance degradation and alert the user in the event of an attack. MTP can offer users verification times similar or faster to that of Bitcoin, without requiring a substantial amount of memory once the solution is found. It also assists the network to become more resistant to DDoS attacks targeting verifiers, and it also allows lightweight devices like smartphones to perfo Continue reading >>

What Is Zcoin? | Beginners Guide

What Is Zcoin? | Beginners Guide

Zcoin utilizes the Zerocoin protocol to provide anonymous transactions in a unique scalable way. The protocol, originally intended to be an extension of Bitcoin, allows you to send coins with no transaction history. Bitcoin records the history of every transaction on a public ledger for anyone to see. Wallet addresses are only pseudo-anonymous with the potential for people to link your identity to an address.However, with Zcoin, you can preserve the fungibility and privacy of your spending. When sending Zcoins, the process works exactly like Bitcoin, with transactions recorded in a public ledger. However, the Zerocoin protocol involves destroying your Zcoins to mint a Zerocoin. Zerocoins are new coins with no transaction history . You can think of the Zerocoin layer as a form of coin laundry where you will put in your existing dirty coins (that have a long transaction history) and then redeem new clean coins that appear to be brand new and have no prior transaction history. You are then able to use the Zerocoins in a spend transaction, which converts the Zerocoins back into Zcoins. With many people minting Zerocoins, it will not be obvious who the spent Zerocoins came from, thus preserving your anonymity. Creating Zerocoins involves selecting the number of coins youd like to mint and a fee of 0.01 Zcoins (XZC). There are a predetermined amount of coins you can mint to improve anonymity. For example, if you mint 1723 Zerocoins and then spend 1723 later, it would be easier to trace the transaction back to you. You must wait about 70 minutes before youre allowed to send the Zerocoins so its advised you mint ahead of time if you know you will eventually do some spending. Once you actually click spend, the address of your choice receives the Zerocoins with no transaction hi Continue reading >>

A Decentralized Mixer For Ethereum? Zcoin Is Working On It - Coindesk

A Decentralized Mixer For Ethereum? Zcoin Is Working On It - Coindesk

A Decentralized Mixer For Ethereum? Zcoin Is Working on It The development team behind zcoin, a privacy-focused cryptocurrency built on the Zerocoin protocol, has announced a project to create a decentralized coin mixer for ether transactions. Revealed in a post on the zcoin blog published 4thMay, the idea is to create an ethereum-compatible version of the procedures in the Zerocoin protocol whichallow users to convert non-anonymous cryptocurrency (bitcoin, ether etc) into an anonymous token. The idea is that these tokens could be sent to another user, converted back into the base currency and spent without revealing the private token's owner. Running such a system on ethereum opens up the possibility of both leveraging the platform's smart contract functionality and eliminating the need for a trusted third party to handle the mixing, as is currently the case with bitcoin mixers. "Unlike Coinjoin and its variants, it also does not require a central server to process such mixing, does not require you to trust any third parties and does not require other users to provide liquidity for a mixing transaction." While the highest levels of anonymity in the cryptocurrency space are currently associated with standalone currencies such as zcash, dash and monero, the zcoin mixer is representative of a small but growing trend in privacy projects focused on ethereum. Another such example, ZoE (Zcash on ethereum) , similarly showed that there are fruitful avenues to explore in bringing anonymity technology tothe distributed computing platform. Continue reading >>

Daily Market Update: 28 September 2017 | Cryptocompare.com

Daily Market Update: 28 September 2017 | Cryptocompare.com

Zcoin Is Working on aDecentralized Mixer For Ethereum In a recent blog post, the development team behind Zcoin , a privacy-focused cryptocurrency built on the Zerocoin protocol, has announced a project that aims to create a decentralized coin mixer for Ether transactions. The idea is to create an ethereum-compatible version of the procedures in the Zerocoin protocol which allow users to convert non-anonymous cryptocurrency (bitcoin, ether etc) into an anonymous token. These tokens could then be sent to another user, converted back into the base currency and spent without revealing the private token's owner. The Zcoin post explained: "Unlike Coinjoin and its variants, it also does not require a central server to process such mixing, does not require you to trust any third parties and does not require other users to provide liquidity for a mixing transaction." CME Explores Cryptocurrency Derivatives Contracts in Patent Filing Derivatives giant CME has developed a system for delivering digital currencies tied to derivative contracts, patent documents show. The US Patent and Trademark Office (USPTO) published CME's application on 4th May, entitled "System for Physically Delivering Virtual Currencies". At its heart, the concept envisions delivering cryptocurrency holdings tied to a particular contract without the clearing party actually taking possession. The new application indicates that CME is looking at additional products tied to the tech, with the firm explaining: "A clearing counter-party could facilitate physical delivery of virtual currency contracts by instructing the sellers of expiring contracts to transfer the virtual currencies directly to the clearing counter-party, and the clearing counter-party would then transfer the virtual currencies to the buyers." Continue reading >>

Zksnarks In Ethereum

Zksnarks In Ethereum

precompile (like an opcode) to a fork of Parity which uses libsnark to verify generic proofs. As a demonstration, we used this new zkSNARK verifier in Ethereum to implement a primitive coin mixing contract using a simplified variant of Zerocash the academic protocol that Zcash based its implementation on. We call this baby ZoE, for Zerocash over Ethereum. The contract allows you to deposit discrete amounts (units of ETH) by inserting a commitment to a serial number into a merkle tree maintained by the contract. In order to withdraw without revealing which commitment youre spending, which would link the withdrawal with the deposit, we use a zkSNARK to prove that we know a commitment inside of the merkle tree of the contract. In order to prevent double-spending, we do so while revealing the serial number, which the contract remembers and prohibits reuse of. In order to prevent other users from taking the proof and withdrawing without your permission, the proof also authenticates for a withdrawal address (in Ethereum) which is authorized to receive the funds from the contract. The idea of integrating Zerocash into a currency using a SNARK verification opcode goes back to the original Zerocash paper (Section 6.3 in Zerocash extended version ). Following this prescription, it is possible to extend the ZoE contract to work with the complete Zerocash protocol. We love contributing to both Bitcoin and Ethereum, and look forward to more collaboration with the broader cryptocurrency community. You can look at our groups code here . Continue reading >>

Zcoin Desarrolla Mixer Descentralizado Para Ethereum

Zcoin Desarrolla Mixer Descentralizado Para Ethereum

Zcoin desarrolla mixer descentralizado para Ethereum Publicado por Isabel Prez | May 7, 2017 | Aplicaciones | 0 | El anonimato de las transacciones en criptomonedas se ha vuelto un asunto esencial, por lo que cada una busca preservar, a su modo, la privacidad de los usuarios. Ethereum, pese a ser la segunda firma en capitalizacin del mercado, no tiene hasta los momentos una oferta de verdadero anonimato; pero esto puede estar a punto de cambiar con la propuesta de Zcoin. Esta ltima es una de las criptomonedas cuyo principal atractivo es la privacidad, y para ello utiliza el Zerocoin, el mismo protocolo sobre el que se basa Zcash . Segn se anunci hace poco, sus desarrolladores planean implementarlo en la blockchain de Ethereum para asegurar el anonimato de las transacciones. Especficamente, el equipo de Zcoin est en proceso de crear un nuevo tipo de los llamados mixers o tumblers, que son servidores usados para mezclar los fondos de unos usuarios con los de otros las suficientes veces para hacer imposible el rastreo de su origen. La gran diferencia estriba en que este mixer estar especialmente diseado para su implementacin en los contratos inteligentes , y no requiere en realidad de otros usuarios ni de un servidor centralizado una tercera parte para lograr su objetivo. Mientras que en servicios como Bitcoin Fog el usuario debe transferir sus fondos a un servidor oculto que podra no darle la respuesta que espera, y, adems, depende de la liquidez provista por otros usuarios para que sus nmeros se mezclen; con el mixer de Zcoin lo que sucede es que el dueo de los fondos, tras depositarlos en un contrato, recibe tokens annimos que se mezclan con los ethers en las transferencias, resguardando as su verdadero origen dentro de la misma plataforma descentralizada de Ethereum . Continue reading >>

What Is Zcoin - Privacy For The Future Coinpupil

What Is Zcoin - Privacy For The Future Coinpupil

Zcoin is a cryptocurrency, based primarily around privacy particularly financial privacy and anonymity. It aims to solve Bitcoins privacy issues and improve on top of it. All transactions made in Bitcoin are stored in a public ledger, in order to prevent a double spending problem. However, this also means that all Bitcoin address balances and transactions will be visible to anyone and everyone that wishes to view them. With enough analysis, it is possible to identify person(s) using the ledger. If you know how much Bitcoin a certain person owns or transacts with, once information is revealed to a shop or exchange for instance that address is almost linked to that identity. Europol and the IRS have partnered up with Chain analysis in order to identify people particularly cyber-criminals and those use cryptocurrency in efforts to avoid tax. Non-government entities can still do the same but usually with a bit more effort. Zcoin uses the Zerocoin protocol, which was originally created in 2013 and was meant to be an extension on top of Bitcoin. There was quite a lot of support for this but in order to ensure Bitcoin remain stable it was dropped, and the Zcoin project was created. The Zerocoin Protocol uses Zero-Knowledge proofs to guarantee complete financial privacy and anonymity. This means that when someone receives Zcoin, they know how much they have received but no other unintended identifying information about the sender and receiver. While difficult to explain how it works exactly, Zero-Knowledge proofs allow a person to prove they own a coin but not which exact one (unlike Bitcoin) which means all transactions are private without the use of mixers. The coin has two layers: Zcoin (the base layer) and Zerocoin (the anonymized layer). The base layer works similarly to Continue reading >>

Zcoin To Implement Zero-knowledge Proofs On Ethereum

Zcoin To Implement Zero-knowledge Proofs On Ethereum

Zcoin to implement Zero-Knowledge Proofs on Ethereum Zcoin(XZC) was launched on in September 2016 and employs the Zerocoin protocol to enable private transactions. The coin emission curve follows that of Bitcoin and there has been no ICO or pre-mine. The underlying cryptography utilizes Zero-Knowledge Proofs (ZKP) that allow users to mint and spend coins with no transaction history. Our current implementation of the Zerocoin protocol uses RSA 2048 parameters as a trusted set up. These are used in many aspects of internet security, such as HTTPS and SSH.Atprojected computing capacity, they will be safe to use for many moredecades. Furthermore, we are working to implement the Sigma protocol , which completely eliminates the need for a trusted set up. Another mitigating factor in the worst-case scenario of a compromised set up is that in Zerocoin the total coin supply and wallet balances can be audited. If there is any issue with the code or implementation resulting in double-spend or counterfeiting, it can be detected early before leading to hyperinflation. Zcoin encountered an attack earlier this year, but was able to find the bug after being alarmed by a sharp increase in minted coins. Zcoin is also in the first coin to implement Merkle Tree Proof (MTP) as POW algorithm. MTP was developed by the same researchers that came up with Equihash. However, it is fast to verify and has the potential to revolutionize mining since you can slot in other memory hard proof-of-work (ASIC-hostile) into the parent algorithm. MTP is already running on our testnet and will be rolled out within the next month. The Zcoin team is conducting its own R&D into implementing the Zerocoin protocol on the ethereum blockchain. We believe this is in accordance with ethereums philosophy of redundancy Continue reading >>

Zcoin (xzc) - List Wiki

Zcoin (xzc) - List Wiki

Zcoin is a private financial transactions, enabled by the Zerocoin Protocol. Zcoin uses zero knowledge proofs powered by Zerocoin technology in securing your financial privacy. Slogan: Private financial transactions, enabled by the Zerocoin Protocol. Zcoin (XZC) project went live on 29 Sep 2016. The official ticker symbol for Zcoin: XZC Introduction to Zcoin, the first Zerocoin cryptocurrency Zcoin is a digital cryptocurrency that puts financial privacy at the forefront, where your transactions are completely untraceable. It is built on the solid fundamentals of the zero point paper, one of the most cited cryptography papers today. Bitcoin and most other crypto currencies are not really anonymous, as all transactions since the founding of the coin are permanently open for the public to view. Researchers, governments and law enforcement agencies have made significant strides in using metadata and pattern analysis to reveal the real-world identities of Bitcoin holders, and this is a serious privacy problem. Imagine having all your transaction history and spending habits revealed or worse, innocently ending up with coins that have been tainted from illegal activities. Not only is your privacy at risk, your coins could be seized or you can even be implicated in a crime you didn't commit. Other attempts to anonymize transactions involving mixing transactions with other people's transactions but this still means that the real transaction is somewhere in there and it's privacy is reliant on how many transactions you are mixing with. Continue reading >>

Zcoin Announces Zerocoin Protocol Implementation On Ethereum Blockchain - Econotimes

Zcoin Announces Zerocoin Protocol Implementation On Ethereum Blockchain - Econotimes

Zcoin announces Zerocoin protocol implementation on Ethereum blockchain The Zcoin (XZC) team announced that it is conducting its own resource and development into implementing the Zerocoin protocol on the Ethereum blockchain. The company stated in its bog that this recent announcement comes in accordance with Ethereums philosophy of redundancy and having multiple implementations, especially when it comes to cutting-edge and still highly experimental cryptography. There are already several projects trying to implement privacy on Ethereum, most notably Zcash-on-Ethereum (ZoE) and Hawk. Zcoin is looking to implement Zerocoin spending verifications on smart contracts with the goal of creating a decentralized and in the future, trustless coin mixer for Ether, the announcement said. Zerocoin permits for Ether transactions by breaking any transaction links, to be obscured with plausible deniability of up to several thousand that compares to other anonymization mechanisms. It does not require users to trust any third parties and does not need other users to provide liquidity for a mixing transaction. The other features of Zcoin on Ethereum include untraceable tokens for anonymous voting and blind auctions and ICOs, among others. After initial calculations and correspondence with Vitalik Buterin, we believe that implementation should be feasible with the upcoming Metropolis release. As running these operations directly in the EVM is too costly, we also are looking to implement pre-compiled contracts instead, it added. Continue reading >>

About Zcoin And Znodes (zcoin Masternodes) | Invest It In

About Zcoin And Znodes (zcoin Masternodes) | Invest It In

About Zcoin And Znodes (Zcoin Masternodes) Interview with Reuben Yap,community and communications manager of Zcoin. Can you tell us about yourself and your role in Zcoin? Ive been involved in Zcoin shortly after its launch in October 2016. I have always been a big privacy coin supporter and before this ran a successful VPN business called BolehVPN. I am a practising lawyer specializing in advising on institutional frameworks. In my spare time, I teach Aikido, box a bit and play some Overwatch (Mercy and Reinhardt). Within Zcoin, Im the community and communications manager but have been helping out wherever I can be it organizing team meetings or software testing. I also make Zcoins weekly community updates, social media management, deal with exchanges, wallet providers, explore partnerships and also serve as the key contact for our English speaking investors. What were the key checkpoints or events for Zcoin in its development? We are a new coin so weve had just about a year of development. The proof of work algorithm MTP although was not deployed on the main net took up a good part of last year and we had a working version on testnet. The deployment on main net was held off after an academic paper pointed out some weaknesses in MTP which lead us to sponsor a USD 12,500 MTP bounty program which lead to very good submissions from Marc Bevand and Fabien Coelho and the new MTP paper is being revised and slated for publication in December 2017. The core upgrade from 0.8 to 0.13 was really big for us which brought Zcoins performance up to par and gave a whole range of improvements including TOR stream isolation support, much faster sync times and greater reliability. Our updates to the Zerocoin library have also been very important for us in improving Zerocoin and making it Continue reading >>

One Huge Ethereum Mixer Controlling 65% Of All Transactions Volume: Analysts

One Huge Ethereum Mixer Controlling 65% Of All Transactions Volume: Analysts

One Huge Ethereum Mixer Controlling 65% of All Transactions Volume: Analysts What means that the single mechanism is responsible for most of all Ethereum transactions A group of extremely savvy analysts started evaluating how much and where ETH transactions were being processed. What they found was a bit of a surprise. According to the analysis, over 65 percent of all ETH transactions are generated using temporary addresses. In other words, funds come into the address and leave the address again, usually within an hour, and the addresses are never used again. The finding, on the cyberFund blog, indicates that an Ethereum mixer is moving funds into temporary addresses, mixing them around from address to address, and then outputting them into more fixed addresses on different exchanges. The graphic below indicates the process. The issue with these transactions is that they represent a massive part of all Ethereum transactions taking place, indicating that funds are being moved rapidly, and for some purpose that is not evidently clear. The analysis that at least one of the following possible options must be true of the mixer. 1. The protection offered to clients by crypto-exchanges: all clients funds are mixed so that the funds sources cannot be tracked and those holding clean money cannot be unjustifiably accused of any illegal activity 2. A mechanism set in place to protect US residents who wish to avoid control from US regulatory bodies 3. A mechanism used by a large private exchange to preserve the privacy of its clients; this exchange might be operating with fiat money 4. A mechanism used to securely transfer crypto-assets between crypto-exchanges 5. Any kind of Ethereum-laundering scheme Which of these options is actually the purpose remains to be seen. However, if Continue reading >>

Zerocoin - Wikipedia

Zerocoin - Wikipedia

This article has multiple issues. Please help improve it or discuss these issues on the talk page . This article possibly contains original research . Please improve it by verifying the claims made and adding inline citations . Statements consisting only of original research should be removed. This article needs additional citations for verification . Please help improve this article by adding citations to reliable sources . Unsourced material may be challenged and removed. Zerocoin is a cryptocurrency proposed by Johns Hopkins University professor Matthew D. Green and graduate students Ian Miers and Christina Garman as an extension to the bitcoin protocol that would add true cryptographic anonymity to bitcoin transactions. Zerocoin was first implemented into a fully functional cryptocurrency released to the public by Poramin Insom, as the Zcoin. [1] Zerocoin provides anonymity by the introduction of a separate mixing service known as zerocoin that is stored in the bitcoin blockchain. Though originally proposed for use with the bitcoin network, zerocoin could be integrated into any cryptocurrency . Bitcoin transactions are all stored, by design, in a public ledger (the blockchain ) that is accessible to everyone. These transactions provide privacy through pseudonymity , in that while each transaction is associated with the public address of the sender and receiver, the names of the owners of these addresses are at no time made known to the bitcoin network. To increase privacy, each person could create as many public addresses as they like, making it difficult to link transactions to the same person. If additional privacy were required, it is possible to launder bitcoin through a trusted third party, where the input coins are mixed in a large pool and output to a new ad Continue reading >>

Tadhg Riordan Joins The Zcoin Team As Solidity Developer For Ethereum Mixer

Tadhg Riordan Joins The Zcoin Team As Solidity Developer For Ethereum Mixer

Tadhg Riordan joins the Zcoin team as Solidity developer for Ethereum mixer We are pleased to welcome Tadhg Riordan to the team as a Solidity developer to work on integration of Zerocoin technology on Ethereum. Tadhg has previously worked on a system of confidential transactions using zkSNARKs which was built into a smart contract and made use of the precompiled contracts which are to be added to the Metropolis update. He hopes to achieve the same with Zerocoin technology as detailed in our previous post . We are confident this will brings greater awareness of Zerocoin tech and its potential uses and its continued relevance and advantages in providing privacy and also eventually allow greater cooperation and collaboration between the Ethereum and Zcoin community. Tadhg Riordan is a 24 year old Software Developer from Wexford, Ireland. He recently completed my MSc from Trinity College Dublin, where he worked with Blockchain privacy mechanisms, focusing particularly on Zero-Knowledge Proofs and the Ethereum platform. He is a strong advocate for the adoption of crypto-currency and for complete financial privacy. Continue reading >>

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