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The trusted setup only requires that you trust that at least one of the participants in the setup ritual was honest and destroyed their key. If they all lied an
by Jabanga 9y ago
The trusted setup only requires that you trust that at least one of the participants in the setup ritual was honest and destroyed their key. If they all lied and kept their key, they can't compromise privacy either. They can only create new coins and devalue others' coins.
The wallet balances are not public if you use the private option. You're right that privacy is optional, and that is not good. But those who do use the private option do indeed get good privacy.
As for the CEO's statement, I haven't seen it. I also don't think one should be basing their decision on whether to trust a cryptocurrency's privacy claims on what their CEO says. It should be based on audits of the source code.
- MichaelGG 9y agohttps://twitter.com/zooko/status/863202798883577856?lang=en https://twitter.com/zooko/status/863202798883577856?lang=en "And by the way, I think we can successfully make Zcash too traceable for criminals like WannaCry, but still completely private & fungible. " And aren't private transactions like 5% or so, making them very visible?
- Jabanga 9y agoLooks like the private transactions make up 23% and 15% of number of transactions and volume of value transacted, respectively: https://explorer.zcha.in/statistics/network https://explorer.zcha.in/statistics/network I agree that unenforced privacy is not good.