Review on Zcoin by Vikrant Nigam
Review on Zcoin by Vikrant Nigam
Zcoin strives to increase individual liberty. By guaranteeing financial privacy, Zcoin can help ensure freedom of commerce. People should be able to transact however they want, as long as it does not infringe on the well-being or individual liberty of others. We are also big believers that freedom of commerce also facilitates peace and prosperity across countries and cultures. By guaranteeing financial privacy, Zcoin can directly guarantee fungibility, an essential property for free commerce.We now come to Zerocoin as implemented in Zcoin. Unlike the previous anonymity schemes which involve obscuring the real transactions with other inputs or transactions, the Zerocoin protocol completely breaks the transaction links between coins through the use of zero-knowledge proofs.
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Pros
- No need for a mixer
- Uses well-researched cryptography
- Very high anonymity in the many thousands (if not more) with a single mint and spend transaction and completely breaks transaction links between addresses.
Cons
- Zerocoin is currently broken due to a cryptographic flaw in one of its proofs. Although it can be fixed
- Incorrect implementation or leakage of trusted setup parameters can lead to forgery of coins
- Requires fix denominations
