Hey folks! Check it out. Proud to announce this now that StarkWare Industries has revealed their existence to the world.
This creates so much confusion for me personally:
Why did a co founder go create another company to work on something zcash could’ve worked on?
I do understand that Ben and Alessandro could be the only guys on “the market” to be able to implement such tech (or be the first for sure), but It doesn’t give me a healthy sign of your guys collaboration. It’s like zcash has been their gateway to fame and access to big investors and now they are creating their own thing which will be for sure successful but will not be related in any ways to zcash. Zcash will purchase services and products from them instead of investing in R&D for the same result. I feel a sense of loss instead of opportunity.
Nothing new in any case, keeping the stallions in a company is impossible. Who is very talented is usually very independent.
Bitmain as investors is just so perfect for the current situation, seems like a troll:
Morale is something money doesn’t care about.
I don’t think it’s about creating a competing company so much as there tends to be lack of funding for these kinds of projects outside of strictly academic surroundings. It looks like the scientist’s involved feel that venturing out on thier own will let them focus on STARKs primarily.
I wouldn’t read too much into Bitmain as a sponsor since this research is pretty far removed from PoW systems. The privacy tech that STARKs enables is useful for any number of coins and systems both public and private.
From reading that post it still seems like they will still be working closely with the Zcash team to get STARKs ready for “the real world”. I think of it like Stark Industries as the incubator and testing unit and when it’s ready for production it would be added to Zcash.
For those who are not sure what STARKs are , or who Eli Ben Sasson is: https://youtu.be/rmlMpAbZOC0
Tony is that you?
STARKs has a much wider application and usefulness in the world than anything cryptocurrencies could ever bring. I’m mean, yeah, financial system, blockchain and bla bla. STARKs will open up a totally new way to communicate and transfer data without any need of sending RSA key and what so ever and even also from the quantum resistance point of view is very promising.
Having STARKs under zcash’s hood was very encouraged from an investment point of view, knowing it’s getting outsourced will change many forecasts.
I don’t get where you are assuming that there’s some new negative result of this? As mentioned by Zooko, Starkware is just coming out of “stealth mode” meaning they have been operating for some time now.
Professor Sasson is a Founder of Zcash but has continued working in an academic/advisory role for a long time, nothing from this new company implies that his research or contributions to Zcash will be diminished.
Zcash is good but it isn’t the be-all-end-all - zkSNARKS aren’t the end of the road on this journey of cryptographic discovery. Whatever the ZEC Co can do to advance the technology needed to create secure, private internet money, I’m glad it’s being done.
You misunderstood my words, If anything negative it’s purely from an investment POV, as stated.
I’m not saying that zcash is going to accomplish less with this statement.
Tesla outsourcing battery production. The cars will be made in any case, but tesla evaluation decreased.
I’m not putting in discussion research, contribution or end result, but pure earnings. STARKs being implemented and utilized by zcash is something, zcash utilizing STARKs offered by a company is something else.
I shared my personal thought and feelings: what I understood in the last year from reading on github and on the forums was that Ben and Dr.Chiesa were working on STARKs for the zcash company and not for their own company.
I’m not saying this is annoucement is bad or that they are betraying zcash or anything similar, I’m simply amazed on the secrecy of such informations, when if you talk clearly from the begining no one comes out
confused(which I am) or mislead (witch I’m not)…
Zooko’s post clearly states that zcash company is investing in starkware inc. To me that means that zcash company becomes a co-owner, so it’s not exactly the same as if they are simply buying services from an external company as in your Tesla example. Maybe starkware is subsidiary to zcash company?
It seems that StarkWare will not have its own token. Instead, it will get the integrated blockchain’s token as the exchange of the integration. For instance, if zkstark is integrated into zcash, StarkWare company would get some zcash as compensation. Same for ethereum etc. Please correct me if I got it wrong.