Zcash is a decentralized and open-source cryptocurrency that offers privacy and selective transparency of transactions. Zcash payments are published on a public blockchain, but the sender, recipient, and amount of a transaction remain private.
Snowden revealed that he was one of six key figures involved in “The Ceremony,” an event that created the privacy-focused cryptocurrency, Zcash in 2016. Julian Assange also collaborated.
Edward Snowden, the former CIA employee known worldwide for releasing classified U.S. government documents, reportedly played a key role in the creation of the cryptocurrency. Zcash (ZEC), focused on privacy.
A video posted byZcash Mediaa team that produces educational materials on that project, revealed the informant’s participation in the event that established the trust a trust is a fiduciary relationship in which one party, known as a trustor, gives another party, the trustee, the right to hold title to property or assets for the benefit of a third party, the beneficiary. configuration, known as the “Trusting the Trust. The Ceremony “which gave rise to the cryptocurrency Zcash in 2016. Several news outlets, such as CoinDesk yCryptoBriefingthey said.
Snowden, who has been in asylum in Russia since 2013, was one of six participants at the event along with the co-creator of Zcash Zooko Wilcox. Until now it was unknown his participation in the “ ceremonia “The informant reportedly used the pseudonym John Dobbertin.
“ My name is Edward Snowden. I participated in the original Zcash ceremony under the pseudonym John Dobbertin. ” He said in the video, explaining that his collaboration was not related to the design of the algorithm, nor did he receive any money for his participation, but only helped to set up the protocol. He added:
The reason I did it is that I saw several reputable academic cryptographers working on it and I thought it was a very interesting project.
What did “The Ceremony” consist of?
One of the oldest blockchains in the industry, Zcash is known for pioneering zero-knowledge proof-of-stake poS is a type of consensus algorithm that rewards validators according to the amount of crypto they have staked. technology. Its system, based on privacy and anonymity, offers a type of protected transaction in which several transactions are put together in groups that, like a sort of black hole, ensure that there is no way to trace the origin and destination of the coins.
To start up Zcash In order to ensure that the private key, which creates and serves as the backbone of the protocol, is not generated and maintained by a single person, the team of developers devised the design of a multi-party computation to ensure that the private key, which creates and serves as the backbone of the protocol, is not generated and maintained by a single person.
This procedure of ” reliable configuration “later renamed “ The Ceremony “divided the private key, a very, very long a situation where you buy a cryptocurrency with the expectation of selling it at a higher price for profit later. alphanumeric alphanumeric phrases consist of both letters and numerals, or characters. sequence, among several people, each of whom contributes a part of the private key. . The design was crucial to prevent any one person from having a copy of the entire sequence. It should be noted that anyone in possession of the key private would have been able to counterfeit coins Zcash and destroy the system.
“ You can’t launch this global cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. of money on the internet if someone just knows the secret and then promises to throw it away ”, dijo Nathan Wilcox, hermano de Zooko y otro co-creador de ZEC, a CoinDesk .
“ The Ceremony ” involved six people, spread a price difference between asking and selling prices of the asset. across six different locations worldwide, launching Zcash using their incomplete part of the private creation key and then destroying that. If only one participant destroyed their partial copy of the key after setup, then the secure launch of Zcash would be successful.
A story in the spirit of science fiction
The rest of the details about the launch event of the Zcash seem straight out of a science fiction story, and involve a computer in a foil-lined box (a trick to block a file containing information on transactions completed during a given time period. Blocks are the constituent parts of a blockchain. WiFi signals) tucked inside a moving car. All part of a quasi-mystical ruse by one of the co-creators to protect the protocol the set of rules that define interactions on a network, usually involving consensus, transaction validation, and network participation on a blockchain. from any adversary.
Snowden, who is a strong advocate for privacy, told Zcash Media who participated in the start-up of the cryptocurrency because he believed that, unlike the Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currencies should allow for total privacy.
“ Bitcoin, quite famously, is an open ledger. The problem with that is that you can’t have true free trade unless you have private trade, and you can’t have a free society without free trade. “he said, adding:
When it came to this concept that they needed many people in many places, all cooperating, with the hope that one of them would not be compromised, would not somehow work against the public interest, and that this was necessary for the ceremony to succeed, I was delighted to say, ‘Sure, I’ll help. ‘.
Interestingly, Snowden wasn’t the only controversial figure who helped to create Zcash .
“ When we were designing the installation ceremony, I visited Julian Assange at the Ecuadorian embassy in London and asked his advice on how to design it. “, by Zooko Wilcox and CoinDesk . The founder of WikiLeaks “ advised us to emphasize and prioritize the air-gapping part of the compute nodes, which we did. ”.
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Article by Hannah Estefania Perez / DiarioBitcoin
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