Nowadays privacy and confidentiality is a major issue. People who are really concern about their privacy in every field of their life, practice many technological methods to protect privacy. But alas, none of the technological methods are not capable enough to provide protection for our privacy. And how can you expect a perfect privacy focused solution from a centralized service providers? Everything is compromised and people are really losing faith in every technology which is committing to provide privacy protection.
In the recent years the world has witnessed a superior technology called Blockchain. It's immutable nature attracted every person around the world. Bitcoin, the mother of cryptocurrency is the fundamental derivative of blockchain technology; which is created to provide financial freedom from the classical financial ecosystem.
Cryptocurrency is a digital asset, created on unique cryptographic architecture to facilitate secure, transparent and unhackable financial transactions. The decentralized nature and cryptographic protocols allows to transfer digital assets which can't be blocked and hacked. But, are these transactions are completely private? No! The traditional cryptocurrencies which runs on public blockchain network are not entirely private. You can trace every transaction through block explorers such as etherscan.com etc. That's why we need some potentially private blockchain networks which can facilitate completely private transactions through privacy crypto coins.
Privacy coins are created to provide complete private transactions using private protocols. The main aim of privacy coins is to hide sender and receiver's addressees including transaction amount. Today there are many privacy coins such as Monero, Dash, Zcash, PIVX and etc, are providing services to users but not all of them are perfect in maintaining complete privacy. Research shows that not every transaction done through these privacy coins are completely private and they are using unproven technologies to perform these transactions.
What is Sero?
Sero (Super zero) is a privacy focused cryptocurrency based on zero knowledge proof which provides anonymous transactions and support turing smart contacts. Zero knowledge proof is a very interesting concept which allows to proof the transactions without revealing the confidential data. In order to provide perfect privacy solution Sero uses non-interactive zero-knowledge proof (NIZK) encryption mechanism to provide complete privacy solution.
Sero chain uses NIZK and homomorphic encryption protocol which helps to add privacy function in turing smart contracts. This helps to extend privacy in decentralized applications and allows to issue privacy protected tokens. This helps to maintain privacy in bid auctions. Sero chain not only helps to issue private tokens but also to trade different digital assets anonymously.
Sero privacy solution helps to implement privacy blockchain solutions in business operations, supply chain systems and in business financial dealings. Sero allow businesses to conduct financial audits by any third party by giving them privacy permission rights. Here also they can limit the privacy information allowed for third party auditors.
The NIZK mechanism is also called as Super-zk, which allows to validate anonymous transactions. Thus privacy complete turing smart contracts provides endless opportunities in business, industry, financial and in many other areas to implement it. Sero v1.0 brings more improvements in its privacy solution by reducing the memory utilization. Sero is here to stay and provide us a better blockchain powered privacy solution even in smart contracts and DApps level. It supports UTXO+ACCOUNT transactions to ensure privacy in smart contracts.
Read Whitepaper: https://sero.cash/en/uploadfile/upload/2019052010565112.pdf
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Sero address: 2C1AHwsTqCUcGiVmEyyJ3KTv7u2dEGacsySPEERL5AtdXZ5Za1h7BZDsHxUTd1yK9kvhmet8Lp3xNe5sd4DyMymg4ZNSXgroCNTM3Vie4LvMMUYjV1BQyo9ERotUf1duaBpk