Electric Coin Company Comms and Adoption Efforts

The Sprout pool can’t go negative. That vuln was limited to Sprout. But this conversation is bigger than this particular thread. :wink:

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Are you able to legally and definitively say that the ECC would never support or comply with any attempt to de-anonymize Zcash users for regulators? The code is public, but the mathematics is complex.

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Zooko has already said he will never support a backdoor, and it’s already existing ECC policy not to do so. https://twitter.com/mineZcash/status/1129415574080106496?s=19

Also https://twitter.com/feministPLT/status/1129090522826641409?s=19

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The privacy in Zcash is guaranteed by encryption… the zk part just makes that encrypted data verifiable. Private keys are private keys, you own your private keys created on your computer (spending or viewing) and the money it controls.

There is no vulnerability to privacy (or access to money) regarding the public parameter ceremonies or the zk-SNARK crypto in Zcash (vuln is related to counterfeiting).

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And btw, the fact that privacy is not dependent on soundness of the zk proving system, is an explicit design goal that will definitely be preserved in future versions of the protocol. Specifically, the proving system has a “subversion statistical zero knowledge” property that makes zk hold regardless of any potential subversion of the trusted setup (and the scope for flaws in this part of the proving system is severely limited). Privacy is dependent on zero knowledge and confidentiality of the note encryption; the latter uses a well-understood elliptic curve Diffie-Hellman based encryption scheme.

(Very minor caveat: there’s an interactive decryption-oracle attack on unlinkability of diversified Sapling addresses; the current protocol depends on soundness of Groth16 in order to prevent this attack. This is proposed to be fixed in NU3.)

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@joshs as I mention some time ago Bitrefill would be a great goal. With a huge impact.

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That would be great! We reached out and Brad spoke with them in Feb. The Zcash volume is too low per their standards and they had some regulatory concerns about accepting a privacy preserving currency. We’ll get back in touch later but you might also reach out to them and request support.

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It’s a circular issue, no volume no services, no services no volume. :slight_smile:

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Thats true @Cris83! But there are those that are interested in supporting Zcash because they believe in the importance of privacy and/or see the opportunity to make a statement or be first to market. Others want cash to hire devs. There is work to be done for 3rd parties to support z-addresses - far more than what’s required to support t-addresses.

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The main goal is to fill blocks with z-z transactions, how to do it is the real issue.

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Can you list current agreements with interested supporters or is it a trade secret? Or plans for 2019, the expansion of influence on Asia was initially announced, but according to open information you only made trips and did not announce anything.

What do you mean by interested supporters? If I can infer that you mean 3rd parties that will add Zcash, our primary focus is adoption of z-addresses. Some hinderances include engineering to support HSMs, dev resource constraints, technical needs (requests for C++ instead of rust libs, etc.). There aren’t any secret agreements (and if there were I couldn’t say anyway), but there are conversations where I don’t feel comfortable sharing the intent of those partners. It’s their option to share or not share that information and in some cases, there are regulatory implications. We can only support them. But I am hugely encouraged that there are many that support the Zcash mission and want to be a part of it!

On Asia, I had planned to invest more in Q1 than we’ve been able due to budget constraints. That included hiring a regional lead, focusing a BD full time in the region and hiring a PR firm.

That said, Zooko and I did travel to Japan, Singapore and Korea for a couple weeks. I provided some information on a recent interview with Global Coin Research and Messari, but there is a lot of ground to cover on that front. We met with the JVCEA in Japan and MAS in Singapore, met with a number of exchanges, OTC desks, held 3 meetups and met 100s of people, did a half dozen press interviews, etc. I’m happy to give more specifics in any of these areas. I will say that our conversations in Japan were positive and led to an unplanned second trip. We spent a lot of time listening, and would like to restate that I have a high degree of respect for the people we’re speaking with and these efforts will take time.

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Thanks for the answer.

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Having in mind that 95.8% funds are still in transparent adresses it doesn’t seem the z-adresses adoption is successfull so far. What do you think is the main reason that just and only 1.9% of the funds are in the shielded sapling pool today? How do you plan to improve the adoption of z-adresses…

Some great stuff here joshs, there’s a level of detail that doesn’t make it into the regular/normal updates - its a kindof ‘mini-AMA’ :slight_smile:

Could I encourage you to hang out here every couple weeks & do something similiar?

Initially: Sprout was way too heavy, and could only be used if you had a zcashd. Now: IMHO the lack of easy-to-use libraries. We are in the same position now that the Bitcoin network was in probably 2012ish, where there were various use cases that couldn’t be served because there weren’t the libraries available to implement them. That’s personally been one of my main drivers while working on the reference wallet: enabling Sapling to be easily deployed in a wide variety of contexts.

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Thanks @ChileBob! I’m going to continue to engage on this thread and other places as best I can.

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Nice @joshs, understand you can’t tell it all, but nice we get some updates with what’s done and what will be.

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It is my belief in order to have mass adoption, these coins need to stop being taxed. I’m not going to use my coins everyday if I have to pay tax at the end of the year. I dont pay tax everytime I spend a dollar. Until that happens it’s my belief all these coins are investment plays.

Welcome!
Yeah its a pain, in the US supposedly the IRS will be issuing clarification on that eventually but whether or not anything really changes is yet to be seen
A lot of the time taxes are taken out when you actually spend the money, its a matter of when (it’s actually kind of nice that they let you take care of all of it yourself when you think about it…)

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