ZCASH HISTORY

[Niko]

ZCASH HISTORY

Zcash started life back in 2013 as a project known as Zerocoin. The Zerocoin project was the work of Matthew Green, Ian Miers, Christina Garman, Aviel D. Rubin who were at The Johns Hopkins University Department of Computer Science, Baltimore, USA.

The Zerocoin project was designed to address the biggest problem with Bitcoin: its lack of privacy.

Matthew, Ian, Christina, and Aviel’s Zerocoin project paper is summarized as this: “Bitcoin is the first e-cash system to see widespread adoption. While Bitcoin offers the potential for new types of financial interaction, it has significant limitations regarding privacy. Specifically, because the Bitcoin transaction log is completely public, users’ privacy is protected only through the use of pseudonyms. In this paper we propose Zerocoin, a cryptographic extension to Bitcoin that augments the protocol to allow for fully anonymous currency transactions. Our system uses standard cryptographic assumptions and does not introduce new trusted parties or otherwise change the security model of Bitcoin. We detail Zerocoin’s cryptographic construction, its integration into Bitcoin, and examine its performance both in terms of computation and impact on the Bitcoin protocol.” (1)


This original Zerocoin project was covered by the Press as an “Add-On” to Bitcoin: “Called Zerocoin, it’s a cryptographic add-on to Bitcoin that allows for transactions which cannot be linked together. The key is that it does this without introducing any new centralised elements into the network or using laundering, whereby coins are spent through intermediaries to hide the root purchaser’s wallet address.” (2) and was heralded as a solution to “Fulfill the dream of truly Private payments” which “If adopted by enough of the Bitcoin network, Zerocoin’s inventors believe it could become a fundamental upgrade to Bitcoin’s code, integrating itself into the currency and solving what many see as serious privacy flaws in Bitcoin’s current implementation” (3)

This work then lead to a collaboration in 2014 between the original Zerocoin researchers at John Hopkins University and cryptographers at MIT, The Technion, and Tel Aviv University who together were able to improve upon Zerocoinsdesign by making it more efficient and more anonymous.



“With the new Zerocash protocol, unlike the old Zerocoin protocol, users can make direct payments to each other with a vastly more efficient cryptographic protocol that also hides the amount of the payment, not just its origin.” (4) This new protocol by Eli Ben-Sasson, Alessandro Chiesa, Christina Garman, Matthew Green, Ian Miers, Eran Tromer, and Madars Virza produced a coin which would no longer be an “Add-On” to the original Bitcoin but instead would be a new full-fledged digital currency known as Zerocash.

It is not known exactly when the Zerocash team began collaborating with Zooko and his team from Least Authority to transition Zerocash into Zcash but the very first issue listed on the Zcash Github dates to November 2014 (5) and Zookos first public mention of the collaboration publicly is in May of 2015. (6)

Zooko Wilcox, the entire team from Zerocash, and Engineers:  Nathan Wilcox, Daira Hopwood, Sean Bowe, Taylor Hornby, Jack Grigg and Maureen Walsh along with a set of Advisors: Gavin Anderesen, Vitalik Buterin, Andrew Miller, Arthur Breitman, and Joseph Bonnaeu (7) worked diligently to bring out the first public Version (1.0) of Zcash.



The Teams successfully launched Zcashon October 28, 2016

History References:

(1) http://zerocoin.org/talks_and_press
(2) https://www.newscientist.com/blogs/onepercent/2013/03/bitcoin-zerocoin.html
(3) http://www.forbes.com/sites/andygreenberg/2013/04/12/zerocoin-add-on-for-bitcoin-could-make-it-truly-anonymous-and-untraceable/#43fe01e34557
(4) http://zerocoin.org/index
(5) https://github.com/zcash/zcash/issues/1(11/25/14)
(6) https://leastauthority.com/blog/a_bug_in_libsnark.html(5/16/15)
(7) https://z.cash/team.html
( https://github.com/zcash/zcash/milestones/

-History copyright 2017 Gibson Ashpool

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[keyz]

Thank you for information about the Zcash you shared. I have read it and this is very interesting. I who don't know much about Zcash can understand the history of Zcash coins well. Again, thank you for sharing.

[Bobcrypto]

ZCASH HISTORY

Zcash started life back in 2013 as a project known as Zerocoin. The Zerocoin project was the work of Matthew Green, Ian Miers, Christina Garman, Aviel D. Rubin who were at The Johns Hopkins University Department of Computer Science, Baltimore, USA.

The Zerocoin project was designed to address the biggest problem with Bitcoin: its lack of privacy.

Matthew, Ian, Christina, and Aviel’s Zerocoin project paper is summarized as this: “Bitcoin is the first e-cash system to see widespread adoption. While Bitcoin offers the potential for new types of financial interaction, it has significant limitations regarding privacy. Specifically, because the Bitcoin transaction log is completely public, users’ privacy is protected only through the use of pseudonyms. In this paper we propose Zerocoin, a cryptographic extension to Bitcoin that augments the protocol to allow for fully anonymous currency transactions. Our system uses standard cryptographic assumptions and does not introduce new trusted parties or otherwise change the security model of Bitcoin. We detail Zerocoin’s cryptographic construction, its integration into Bitcoin, and examine its performance both in terms of computation and impact on the Bitcoin protocol.” (1)


This original Zerocoin project was covered by the Press as an “Add-On” to Bitcoin: “Called Zerocoin, it’s a cryptographic add-on to Bitcoin that allows for transactions which cannot be linked together. The key is that it does this without introducing any new centralised elements into the network or using laundering, whereby coins are spent through intermediaries to hide the root purchaser’s wallet address.” (2) and was heralded as a solution to “Fulfill the dream of truly Private payments” which “If adopted by enough of the Bitcoin network, Zerocoin’s inventors believe it could become a fundamental upgrade to Bitcoin’s code, integrating itself into the currency and solving what many see as serious privacy flaws in Bitcoin’s current implementation” (3)

This work then lead to a collaboration in 2014 between the original Zerocoin researchers at John Hopkins University and cryptographers at MIT, The Technion, and Tel Aviv University who together were able to improve upon Zerocoinsdesign by making it more efficient and more anonymous.



“With the new Zerocash protocol, unlike the old Zerocoin protocol, users can make direct payments to each other with a vastly more efficient cryptographic protocol that also hides the amount of the payment, not just its origin.” (4) This new protocol by Eli Ben-Sasson, Alessandro Chiesa, Christina Garman, Matthew Green, Ian Miers, Eran Tromer, and Madars Virza produced a coin which would no longer be an “Add-On” to the original Bitcoin but instead would be a new full-fledged digital currency known as Zerocash.

It is not known exactly when the Zerocash team began collaborating with Zooko and his team from Least Authority to transition Zerocash into Zcash but the very first issue listed on the Zcash Github dates to November 2014 (5) and Zookos first public mention of the collaboration publicly is in May of 2015. (6)

Zooko Wilcox, the entire team from Zerocash, and Engineers:  Nathan Wilcox, Daira Hopwood, Sean Bowe, Taylor Hornby, Jack Grigg and Maureen Walsh along with a set of Advisors: Gavin Anderesen, Vitalik Buterin, Andrew Miller, Arthur Breitman, and Joseph Bonnaeu (7) worked diligently to bring out the first public Version (1.0) of Zcash.



The Teams successfully launched Zcashon October 28, 2016

History References:

(1) http://zerocoin.org/talks_and_press
(2) https://www.newscientist.com/blogs/onepercent/2013/03/bitcoin-zerocoin.html
(3) http://www.forbes.com/sites/andygreenberg/2013/04/12/zerocoin-add-on-for-bitcoin-could-make-it-truly-anonymous-and-untraceable/#43fe01e34557
(4) http://zerocoin.org/index
(5) https://github.com/zcash/zcash/issues/1(11/25/14)
(6) https://leastauthority.com/blog/a_bug_in_libsnark.html(5/16/15)
(7) https://z.cash/team.html
( https://github.com/zcash/zcash/milestones/

-History copyright 2017 Gibson Ashpool

  Our Community is much bigger than just this site!  Join us on:
Chat
Forums
Store




 ZECFollowers 17358

$ 110.83 (0.98%)

Last updated: 1 min ago

USD Vol: $ 1,447.52 K

Mkt Cap: $ 554.68 M

All Vol: $ 253.52 M





PAGES

BLOGZCASH TECHNOLOGYZCASH DEVELOPERSPAY WITH ZCASHZCASH EXCHANGESZCASH WALLETSZCASH MININGZCASH MINING HARDWAREZCASH MINING SOFTWAREZCASH MINING POOLS

RECENT POSTS

ZCASH DEVELOPERS UPDATE 9-28-18ZCASH DEVELOPERS UPDATE 9-21-18ZCASH DEVELOPERS UPDATE 9-14-18ZCASH DEVELOPERS UPDATE 8-31-18ZCASH DEVELOPERS UPDATE 8-24-18

Well said, the main features of Zcash is privacy compared to other coins, and this is one of the reasons most people seem to dislike Zcash. I think you have explained very good information about Zcash and like to follow more updates in the future. Thank you

[Monstar Shawon]

ZCash (ZEC) is a cryptocurrency project that originated from the Zerocoin / Zerocash idea, proposed in 2013. Zcash was forked from Bitcoin and launched in October 2016, and was previously known as Zerocoin. It uses cryptography that, in theory, should provide privacy to its users

[Herry]

Thank you so much brother for telling the history of such a beautiful coin I actually had no experience in this matter and didn't know from this topic of yours I learned a lot and learned to create more beautiful topics in the future so that those who have small users like us Comes in a lot of benefits.

[Power]

Nice post mate. Just continue to post meaningful and informative one.

[raisajahan]

Z cash is a cryptocurrency aimed at using cryptography to provide enhanced privacy for its users compared to other cryptocurrencies such as Bitcoin.
Z cash is based on Bitcoin's code base. It shares many similarities such as a fixed total supply of 21 million units.
Transactions can be "transparent" and similar to bitcoin transactions in which case they are controlled by coins are either in a transparent pool or a shielded pool; as of December 2017 only around 4% of Z cash coins were in the shielded pool and at that time most cryptocurrency wallet programs did not support  and no web-based wallets supported them. The shielded pool of Z cash coins were further analyzed for security and it was found that the anonymity set can be shrunk considerably by heuristics-based identifiable patterns of usage.

[raisajahan]

Deleted

[raisajahan]

Zcash is a privacy-focused blockchain and cryptocurrency that was developed in response to bitcoin’s flaws. It uses the same algorithm as bitcoin but improves upon it by enabling semi-transparent processing. In simple words, this means that it eschews the radical transparency of bitcoin’s blockchain for a more nuanced implementation. In this implementation, user transaction data is revealed selectively.

[Farhana]

 I believe its a best topic. most of people don't know Zcash history. I am also learnt after see the topic. At first Zcash began in 2013. And its created by Johns Hopkins professor Matthew Green and some of his graduate students. Its initial demand was high, and its was a surprise because within a week Zcash coins were trading for five thousand dollars a piece.