Why should we trust your trusted setup?
What do you mean... check source and you will see that there is no premine, also no ico. Fair launch for everybody.That one made my day. Clone of zcash. Dev doesn't even know what is the trusted setup
That's one reckless shitcoin!
@freequant
could you please give us definition of "trusted setup" or give us standards of it? - I am very curious how proper lunch of coin should looks like.
Please also explain why this is "reckless shitcoin" then we all know reason and get better image on shitcoins in crypto.
thanks
In the context of zcash, "trusted setup" refers to a set of zero-knowledge parameters that need to be generated at genesis to initialize the blockchain, and then destroyed. Failure to destroy these parameters would jeopardize the entire security of the zero-knowledge system (hence the "trusted" in "trusted setup") by allowing anyone controlling this information to manipulate the money supply. This is the only operation in the history of the blockchain that requires trust, the rest being trustless. The "trusted setup" is a fundamental aspect of zcash. Something anyone who studies zcash more than 10mn will necessarily learn about.
The fact the dev has no idea what "trusted setup" refers to is a tell-tale example of how uninformed he is about the coin he has cloned and shows that he hasn't even bothered reading the whitepaper or researching anything whatoever. Copy / Paste / Profit. That's what you are looking at here. Good luck finding bag holders stupid enough to buy this.
But the bagholders are the free miners... we all know what will happen, hit a exchange, miners will pump it like crazy, other people join, miners will make big profit and then you will have those new bagholders
