'Trusted Setup' and ZEC viability


#1

Hi there,

the ZCASH foundations are absurd, how can people really trust this new coin if, as it seems, is trying to build on 'Security through Obscurity' ?

Where are the details of the 'Trusted Setup' ?

Do you, the ZCASH DEVS, really think to be able to hide your setup secrets? Or what?

I think that, as a first iteration, the October 28 launch is good just for playing with ZEC.

You should find an acceptable, secure and possibly peer reviewed way to build the initial parameters.

I can't understand how ZCASH can now have conscious investors/miners/shareholders, do these people really understand the importance/consequences of the (barely) proposed 'Trusted Setup' ?

What do you folks think?

Thanks for debating.


#2

Er, you may want to have a look at this blog post https://z.cash/blog/generating-zcash-parameters.html before you dig yourself too deep of a hole


#3

Additionally, it has already been stated by employees of the ZCash Company that there will be more blog post(s) with more details for the Trusted Setup. I think this one that @Shawn pointed out is just the first.

The implementation of a Trusted Setup is something that will be scrutinized and discussed for many many years to come. Personally, I believe that the employees, advisors, and investors of the ZCash Company are thoroughly aware of the implications for trust and will likely make sure they do things transparently.

I think that the "fun" Trusted Setups come from the forks of the zcash project. :grin:


#4

They have devised this 'secure multiparty computation' and they will build on that and that's good but... the main point is: who are the parties and how many are there? I think that if they are just a few, let's say the ZCASH DEVS for instance, there is a problem.
I think that the 'secure multiparty computation' is a good idea only if the number of parties is really high: many people participating -> as the number increases the probability of someone having the full privkey asymptotically tends to 0.