Nice to see some very interesting discussion here today! What a pleasure and surprise, a problem with slack?
In my opinion, any form of trust setup is a trap in itself. The point of cryptos is to be able to use trustless system.
Thanks for sharing those links.
The Zerocoin protocol requires a trusted setup. The risk with this specific protocol is the trusted party is able to mint an unlimited amount of coins. I see no documentation from these developers on how they plan to proceed with the initialization. All they've managed to do here is hire a decent graphic designer and post a bunch of whitepapers from other projects.. this doesn't equal credibility nor should it warrant investment.
A word of investment advice from someone who has specialized in the privacy vertical since 2013 - stay away from projects that don't have the necessary talent to release their own whitepapers or properly address concerns such as this achilles heel. Every time there is a major pump in cryptocurrency world its always followed up with a few projects promising Zerocoin. The only one still around is Anoncoin, whose lead dev is also the lead of the i2p project. They've been pioneering the RSA-UFO process for years without success even despite possessing the technical qualifications.
Unless this project has a cryptographer advising or working with them I would advise that you stay away. The underlying foundation of any cryptocurrency is cryptography and if a team doesn't know what they are doing they will run the risk of causing you financial exposure. This is even more important when dealing with distributed privacy protocols whose weak design and/or implementation can lead to imprisonment, persecution and death.
If this project was legit they would of released a whitepaper before they launched addressing their methods to achieve a trustless implementation. The lack of one proves otherwise.
Our protocol assumes a trusted setup process for generating the parameters… accumulator trapdoor (p; q) can be destroyed >>immediately after the parameters are generated.
This is a serious flaw. All past transactions can be revealed with knowledge of (p,q). How can i trust the developers to destroy the (p,q)?
"Alternatively, implementers can use the technique of Sander for generating so-called RSA UFOs for accumulator parameters without a trapdoor [26]."
I looked the paper and noticed: 1) this is probabilistic algo; 2) it can be performed by a single person — and again we need to trust. How exactly can it be implemented in p2p network like bitcoin without requiring trust?
Moreover: if trapdoor (p,q) will eventually recovered by some factorization method all past transaction will be revealed and new setup procedure will be required.
zerocash needs a trusted i don't think zerocoin does or at least Zcoin didn't they used some kind of RSA encryption or something of that nature
Both protocols call for a trusted party setup with the exception of the RSA UFO method as per the Zerocoin whitepaper (
https://wiki.anoncoin.net/RSA_UFO). Zcoin (the altcoin) also used a trusted initialization.
My pleasure. I usually avoid these types of posts because cryptocurrency communities are tribalistic in nature, which usually leads to cultist denial followed up by personal attacks on the messenger. Although, I felt obligated since nobody has brought this up after 427 pages and more than likely the majority here are new to this technology.
the zerocoin protocol has a coin supply that can be audited unlike zerocash
Thank you both to share your opinions. It's very refreshing to read it. Because what ever is said by devs or a marketing team, or even if I was part of the trusted setup, real money in the market will not get fooled. Zerotrust is the key factor to master.
so far I just see ya writing on the subject and not key people involved
nothing shall gets released unless it is fully vetted some have already bet not small amounts in advance that it is (key in any investment for *after* often its way too late)
Is that a "just shut up and wait" ? Ok, fine. I intend to be a long term PIVX holder but am wary of hidden issues and false promises due to past experiences in BTC land.
Nope, please it's the all interest of this unmoderated post. What ever questions or doubts that you have will most likely be shared by others in the market place.
So from our cumulative knowledge one real advantage that zerocoin protocol has over zerocash is that at least the coin supply can be checked.
Thank you again for your contributions to the topic!
My pleasure. I usually avoid these types of posts because cryptocurrency communities are tribalistic in nature, which usually leads to cultist denial followed up by personal attacks on the messenger. Although, I felt obligated since nobody has brought this up after 427 pages and more than likely the majority here are new to this technology.
So you're saying that once PIVX moves to full time Zerocoin and the initial parameters are retained, the devs could fiddle the coin supply without anyone knowing? Or would that become apparent because there's a known supply? Anyway I was just in the PIVX Development slack and asked a few questions, and sounds like there's no real white paper worthy solution to this as yet.
No, it seems that this problem of unchecked coin supply is with zerocash, the question is to know if the implementation of zerocoin protocol is trustless.
Btw it was asked a few pages earlier and no clear answer was given.
I wont tell ya my trading strategy that would disturb Nash game theory principles 
