From what I've read, Zcash (formerly ZeroCoin) generates a masterkey that the devs have access to, that allows access to the complete blockchain, so you are trusting that the devs don't take advantage of this and delete the masterkey.
How retarded is that? Who would trust such technology?
How retarded is that? Who would trust such technology?
You are somewhat over simplifying. The devs are supposed not to have a master key ; the whole problem is how to generate the public parameters without someone holding the masterkey. It is problematic, but it is not as blunt as you put it ; I agree however that what I understood of the way they generate it, that it is sufficient that the whole set of celebrities supposed to generate the key, collude over keeping the key (or that there's a back door in the system they use that can bring together all the shards of the golden key), to have the golden key that can generate an unlimited number of coins. It cannot de anonymise however.
I think more work is needed on this "trusted setup" before it can be trusted, but it is not as blunt as you put it.
