Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => Topic started by: PRIBO247 on December 19, 2018, 11:00:56 PM
-
Some of the challenges faced by privacy blockchains include
scalability and useability. Yet, one privacy coin believes it has
the answer to solving these with its new protocol.
Zcoin, which in November had a Thai song added to its
blockchain to fight censorship and government corruption, has
released an academic paper for its Lelantus protocol. It is due
to be deployed in 2019. Created by Zcoin, which is focused on
delivering privacy and anonymity for its users, the aim of the
protocol is to fix the issues that privacy blockchains face.
In an announcement, Reuben Yap, COO of Zcoin, said: “Current
privacy protocols need to be improved. Most require tradeoffs
on either scalability, anonymity, ease of use or they are
underprinned by experimental cryptography. We created
Lelantus to tackle these issues and offer a well-rounded
solution to users.”
Zcoin’s current privacy protocol, Zerocoin, gives users privacy
over their transactions through zero-knowledge cryptographic
proofs. However, the Zerocoin protocol and others require
users to anonymise coins in fixed denominations to protect
privacy.
According to Yap, while Lelantus provides the same level of
protection to users, it’s more flexible and user-friendly. Not
only that, but it is claimed to be scalable, with its zero-
knowledge proofs taking up 1.5kb on the blockchain. This is
compared to the current 25kb on Zerocoin. On top of that, but
the team note that Lelantus doesn’t require a trusted setup,
requiring specific initial parameters to be destroyed to prevent
users from creating coins out of nothing.
“Performance is a crucial aspect in any transaction privacy
protocol and must be practical to implement,” said Aram
Jivanyan, the author of the Lelantus protocol, who serves as
the Cryptography Advisor of Zcoin. “Many privacy protocols
use zkSNARKs to improve computations, but Lelantus is able
to achieve this without a trusted setup by sticking to well
established cryptographic assumptions. It it both fast and
storage-efficient without compromising on privacy and
confidentiality.”
Other benefits that Lelantus delivers over Zerocoin, as noted
by the academic paper, include the need for fixed
demoninations is removed, a single transaction can contain a
number of spends and output multiple coins, and transaction
amounts are hidden.
https://coinjournal.net/