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’ ?
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.
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.
