The organization behind Zcash just made its new source code public


This implementation of the technology promises to remove the need for trusted setups.
ECC, or the Electric Coin Co.,
is the entity responsible for the advancement of privacy coin Zcash (ZEC).
It unveiled a new code for the blockchain and crypto community.
The organization opened its Halo
2 source code. It is an updated, more efficient version of ECC's recursive
proof composition. It eliminates the need for a trusted setup in Zcash. This was
revealed in a Sept. 1 blog post from the ECC. It may
also advance a promising scalability solution for Zcash and other blockchains.
The post noted that the Halo structure adds speed, among other things.
In order to initiate a private network with Zcash utilizing Zero-Knowledge Succinct Non-Interactive The argument of Knowledge, or zk-SNARKs, a
trusted setup is required. It essentially means specific. Parties must oversee
the network in the beginning. The Halo 2 source code allows for process
completion without trusted setups when using Zcash.
The blog post said that the
Ethereum Foundation helped in the development of Halo 2. The blog noted that
trusted setups would be a thing of the past by next year if all goes according
to the ECC's goals. It would also set the stage for future support of recursive
proofs in support of layer one scalability. The Ethereum Foundation has also donated to
the UNICEF through Bitcoins and Ethereum in the past.
The blog post also noted a few other things.
In the coming months, the organization will be committing significant resources in R&D, engineering,
business development, marketing, operations, and third-party support to ensure
that Halo 2 will be productized safely and securely. Finally, it will be the
Zcash community that decides whether Halo 2 becomes part of Zcash.
Zcash is among several other prominent anonymity-based digital assets in the crypto space. This is a concept gaining relevance in an era of rising digital surveillance.
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Crypto Business World
CBW - External Analyst
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