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      "body": "This post will hopefully give you a brief overview of the major blockchain privacy mechanisms that are implemented in cryptocurrencies today and in particular how the Zerocoin protocol used in Zcoin stacks up.\n\nBlockchain privacy is a particularly difficult thing to achieve as a public blockchain is designed so that all transactions are transparent and the supply of coins can be publicly verified. Privacy mechanisms have to ensure that these elements are preserved so it’s a conflicting mix of protecting privacy while maintaining public verifiability. To understand the innovation behind Zerocoin, we need to examine the history of blockchain privacy.\n\n## Cryptocurrency Tumblers and Coinjoin\n### As used in: Dash, PIVX\n\n### Pros:\n#### \n- Works on top of most cryptocurrencies without the need for specific consensus rules\n- Relatively simple to implement\n- Lightweight\n\n### Cons:\n#### \n- Basic anonymity\n- Requires mixers to be online\n- Earlier implementations involve trust in a third party mixer\n### \nOne of the first methods people sought to achieve this was through the use of cryptocurrency tumblers. They work by mixing funds with others by sending your coins to other people and then giving their coins to you. An easy way to visualize this is a group of people each putting the same number of coins into a common pot, mixing it up and then taking the same amount of coins back from which you started with. The idea is that it is now hard to prove whose coin originally belonged to who thus providing some degree of privacy. This comes with several drawbacks, foremost that you need to trust the tumbler not to steal your coins.\n\nCoinjoin is an improvement of this mixing idea and removes the possibility for the tumbler to steal the coins, it was popularly used in Darkcoin (now known as Dash). However there are still many drawbacks with Coinjoin.\n\n![DQmR4on6itWrZ9MQA8Tixp7Arx2PtWYxYTDDfeUf5aMgEoX.png](https://steemitimages.com/DQmR4on6itWrZ9MQA8Tixp7Arx2PtWYxYTDDfeUf5aMgEoX/DQmR4on6itWrZ9MQA8Tixp7Arx2PtWYxYTDDfeUf5aMgEoX.png)\n\n- You need to trust the tumbler for your anonymity as the mixer can log identifiable information and knows how the mix is happening along with each user’s input address and the address they are receiving coins to. This issue can be avoided by using blind digital signatures but then the anonymity of coinjoin relies strongly on the possibility to connect to the tumbler in an anonymous manner, e.g., via the Tor network.\n- It requires people involved in the mixing to be online for a mixing transaction to happen. If no one wants to mix for the right denominations, your mix can be delayed.\n- The anonymity is limited by the amount of people you mix with. A typical round of Dash’s privatesend mixing involves 3 participants only though this can be repeated.\n- Even with multiple rounds of CoinJoin mixing, recent research (https://arxiv.org/pdf/1708.04748.pdf) shows that a user’s wallet can be identified if they are not careful with browser cookies when making payments because mixing only obscures the transaction links between addresses but does not break them completely.\n- It is easy to disrupt a run of Coinjoin and delay the completion of the coinjoin transaction for the other participants.\nOther improvements to CoinJoin such as CoinShuffle++ removed the need for a trusted third party but are still subject to the other drawbacks of CoinJoin namely a limited anonymity set and the requirement that participants are online.\n\nThe main benefit of Coinjoin type schemes is that they are relatively simple and work on top of the cryptocurrency without the need to use specific consensus rules. With appropriate precautions, CoinJoin can provide a basic degree of anonymity.\n\n## Cryptonote and Ring Signatures\n### As used in: Monero\n\n### Pros:\n#### \n- No need for a mixer and mixing is done automatically\n- Can be implemented with privacy on by default\n- Anonymity increases as time passes as outputs become the new inputs of new mixes\n- Hides transaction amounts when implemented with RingCT\n- Well researched cryptography\n\n### Cons:\n#### \n- Scalability issues because of large transaction sizes and a non prunable blockchain\n- Risks of blockchain being deanonymized in the future or through incorrect implementations\n- Cannot take advantage of existing Bitcoin ecosystem and requires separate integration work\n- Ring size is practically limited\n### \nThe next anonymity scheme we will explore is ring signatures as used in Cryptonote currencies such as Monero which greatly improves anonymity over Coinjoin type schemes. A ring signature works by proving someone signed the transaction from a group of people without revealing which person it was. One common proposed use case of ring signatures is for it to be used to provide an anonymous signature from a “high ranking White House official” without revealing which official signed the message.\n\nCryptonote uses ring signatures in a way whereby a user can craft a transaction and use the outputs of other similar transactions on the blockchain automatically to form the inputs to a ring signature transaction so that it is unclear which input belongs to the person actually doing the transaction. It does this automatically without requiring other users to specify that they wish to mix and does not need to wait for other people to provide funds since it’s just scanning the blockchain for those outputs to use. As there is no mixer, there’s no mixer you need to trust. Monero also recently implemented RingCT (Ring Confidential Transactions) which hides transaction amounts as well.\n\n![DQmQwh4mGVxBUo5tDLa9bAVdfKCzJ71c9nNzDFsG4q4SxRi_1680x8400.png](https://steemitimages.com/DQmZD6uFVKUwFMBNn4ES6pTrXowqABEc8Db5SJD9CNQhXTQ/DQmQwh4mGVxBUo5tDLa9bAVdfKCzJ71c9nNzDFsG4q4SxRi_1680x8400.png)\n\nThe main drawback of Cryptonote is that its transactions especially with RingCT are very large occupying several kilobytes and this greatly increases the amount of storage space required to store the blockchain. There currently isn’t any way to prune spend outputs in a Cryptonote blockchain like in Bitcoin. Using an entirely different codebase than Bitcoin also means third parties have to do more work to integrate Cryptonote into their existing ecosystems.\n\nRing signatures as currently implemented in Cryptonote currencies also have limitations in terms of practical ring size (the number of other outputs you are taking) as the size of a transaction grows linearly as the ring size increases. This is why by default Monero has a relatively small default ring size of 4. In fact, using a different ring size then the default might unintentionally deanonymize you by highlighting it. This means on a per transaction basis, the anonymity is limited by the number of participants in the ring. Blockchain analysts although they might not be able to prove transactions are linked, they can calculate the odds that they are.\n\nAnother criticism of Cryptonote is that if there’s a weakness in its ring signature implementation or a reasonably powerful quantum computer becomes feasible, the entire blockchain history is deanonymized and retroactively exposed. This cannot be fixed after the fact. In fact, a flawed implementation in a Cryptonote currency called Shadowcash allowed for its blockchain to be deanonymized in its entirety.\n\nIt is also to be noted that with RingCT which hides transaction amounts, this sacrifices supply auditability. Supply auditability means the ability to verify that no new coins are being secretly generated and to know exactly how many coins exist at a point in time. In Monero’s implementation of RingCT, someone who breaks the discrete logarithm that underpins RingCT can forge coins without anyone knowing it, granted it is probably very hard to do so with current knowledge and technology.\n\nDespite these drawbacks, Cryptonote today has proven itself to be one of the better and well reviewed privacy technologies out there and the only instances where it has been publicly deanonymized arose from improper implementation such as the Shadowcash fiasco or through the use of mixin-0 transaction in Monero which resulted in a cascade effect that rendered 87% of inputs traceable (https://eprint.iacr.org/2017/338) (which were subsequently mitigated for newer transactions). Cryptonote solves many of the problems of cryptocurrency tumblers and offers good anonymity at the cost of scalability with large transaction sizes and a non prunable blockchain.\n\n## Zerocoin and Zcoin\n### As used in: Zcoin\n\n### Pros:\n#### \n- No need for a mixer\n- Very high anonymity in the many thousands (if not more) with a single mint and spend transaction and completely breaks transaction links between addresses.\n- Retains supply auditability\n- Uses well researched cryptography\n### Cons:\n#### \n- Proof sizes are currently large\n- Requires a trusted setup\n- Incorrect implementation or leakage of trusted setup parameters can lead to forgery of coins.\n- Some care is required when doing Zerocoin mints and spends.\n### \nWe now come to Zerocoin as implemented in Zcoin. Unlike the previous anonymity schemes which involve obscuring the real transactions with other inputs or transactions, the Zerocoin protocol completely breaks the transaction links between coins through the use of zero knowledge proofs.\n\nIn simple terms, a zero knowledge proof is a proof you did something or know something without revealing any other information other than you did it. For example, proving that you know a password without actually revealing the password.\n\nZerocoin works by allowing you to burn coins up (otherwise known a Zerocoin mint) and then later redeem an equivalent number of brand new coins (known as a Zerocoin spend). These coins appear with no prior transaction history and are similar to newly mined coins. The zk-proof is used to prove that you indeed burnt coins without revealing the specific coins that you burnt and therefore are entitled to redeem an equivalent number of new clean coins.\n\n![DQmPp4F2aQvEHxkjnNGhSWd5DDMwUH7osSbyLravx5fgp7C.png](https://steemitimages.com/DQmPp4F2aQvEHxkjnNGhSWd5DDMwUH7osSbyLravx5fgp7C/DQmPp4F2aQvEHxkjnNGhSWd5DDMwUH7osSbyLravx5fgp7C.png)\n\nThis means that unlike in Coinjoin and Cryptonote where the anonymity set is limited by either the number of participants or the ring size, Zerocoin would allow you an anonymity set of every other person who has done a Zerocoin mint of a particular denomination and achieve this immediately. This allows the anonymity set to scale into the many thousands with a single Zerocoin mint and spend cycle. Also the coins truly have their transaction links broken as they appear as completely brand new coins compared to merely being obscured through previous methods.\n\nThis anonymity scheme is not without some drawbacks. In return for the huge anonymity set and breaking of transaction links, Zerocoin requires a one time trusted setup to generate initial parameters. In Zerocoin these are two very large prime numbers that need to be destroyed. Knowledge of these two large prime numbers would allow someone to forge Zerocoin spends and create coins out of thin air. To mitigate this, Zcoin uses parameters from the RSA Factoring Challenge held in 1991 where they took special steps to destroy the prime numbers and had a USD200,000 bounty to successfully factor it for 16 years before the challenge was ended. Till today the RSA-2048 parameters used remain to the best of our knowledge unfactored and 2048 bit RSA remains widely used today having stood the test of time at least until the advent of quantum computing.\n\n![DQmTibdjA6WiaHHDV7UC4ePnAFBovWea8tUa94wEBZLBKum_1680x8400.png](https://steemitimages.com/DQmT8bXNZMELAB2h6BBUyPLPLYyCaB71EEJu4CJ4fJLuF9J/DQmTibdjA6WiaHHDV7UC4ePnAFBovWea8tUa94wEBZLBKum_1680x8400.png)\n\nIt is worth noting that the knowledge of these two primes or successful factoring will not compromise the anonymity of Zerocoin merely allowing the forging of coins. Additionally this is mitigated that Zcoin’s supply is auditable so the forging of coins can be detected. In fact due to a bug in the implementation (and not from the breaking of RSA), the forging of coins actually happened to Zcoin but was thankfully detected and stopped. It goes to show how in zero knowledge proof coins which involve some form of burning and creation of new coins, supply auditability is particularly important.\n\nAnother limitation of Zerocoin is that fixed denominations need to be used for minting and spending and the zero knowledge proof sizes for a Zerocoin spend are relatively large at 25 kb, comparable to a RingCT transaction. It is to be noted that unlike in Cryptonote whereby all transactions are to be of this size, only Zerocoin spend transactions occupy this amount of space with normal transactions occupying the same size as Bitcoin transactions. Zerocoin spend transactions are also comparatively computationally intensive to verify taking about half a second to do so.\n\nAlso incorrect use or predictable use of Zerocoin mint and spend transactions such as always minting and spending at regular intervals or using the same IP address for a mint and spend can possibly compromise anonymity thus some care is required.\n\nSumming up, Zerocoin offers very strong anonymity with a huge anonymity set with no transaction linking but currently requires a trusted setup, additional storage on the blockchain and additional computational resources to verify. Despite this, there is research that show that removing trusted setup and reducing proof sizes are possible with Zerocoin through the use of the Sigma protocol and the Zcoin team are currently researching and evaluating its use further.\n\n## Zerocash and Zcash\n### As used in: Zcash, Zencash, Komodo\n\n### Pros:\n#### \n- Potentially the best anonymity set encompassing all coins minted and breaks transaction links between addresses.\n- Proof sizes are small and fast to verify\n- Hides transaction amounts\n- No need for conversion to a base coin and anonymized coins can be sent directly to each other.\n### Cons:\n#### \n- Private transactions take a while to generate (almost a minute on a decently powerful computer)\n- Complicated trusted setup that has to be done by the developers.\n- Incorrect implementation or leakage of trusted setup parameters can lead to forgery of coins.\n- Supply cannot be audited therefore forgery can be very difficult to detect.\n- Uses relatively new cryptography\n### \nThe final anonymity scheme we will consider is the Zerocash protocol as used in ZCash. Zerocash builds on the work of Zerocoin and seeks to address the perceived shortcomings of Zerocoin. With Zerocash and its use of zkSNARKs, proof sizes are now only 1 kb and are very fast to verify. Furthermore, all transaction amounts are hidden and there is no longer a need to use fixed denominations when doing a minting transaction. Zerocash also allows people to transfer Zerocash’s equivalent of ‘Zerocoins’ to each other without the need to convert back into the base coin. Its anonymity set is also the largest among all previous anonymity schemes involving all minted coins regardless of denomination on the blockchain.\n\nA cursory glance at this would make it seem that Zerocash makes Zerocoin obsolete. However to achieve this, it had to trade off certain benefits that Zerocoin has.\n\nFirst of all Zerocash lacks supply auditability. Like Zerocoin, Zerocash requires a trusted setup but Zerocash’s setup is much more complicated. Zcash utilized a multi party ceremony involving 6 people setup in a way that the only way these parameters could be leaked is if all 6 in the ceremony colluded to retain the keys. In other words you have to trust any of these 6 people that they destroyed the initial parameters and also trust that the ceremony was carried out correctly.\n\n![DQmSzx5YBZicFZWZfS39P946J3M4AA36GW6itFoE5LW3ze4.png](https://steemitimages.com/DQmSzx5YBZicFZWZfS39P946J3M4AA36GW6itFoE5LW3ze4/DQmSzx5YBZicFZWZfS39P946J3M4AA36GW6itFoE5LW3ze4.png)\n\nIf there is a bug in the code, or a cryptographic flaw or an issue with the multi party trusted setup, an attacker can possibly generate unlimited Zcash and unlike in Zerocoin, this additional supply cannot be detected. Especially in a system that operates on similar principles with Zerocoin that allows the creation of new coins, supply auditability becomes increasingly important.\n\nAnother trade off is the use of new cryptography called zkSNARKs which are effectively only used in Zerocash. There is a lot less scrutiny on it and therefore is not as battle tested as RSA which has been in use and reviewed for many years and continues to be widely used.\n\nThe other main drawback of Zerocash is that due to the complex math required, the generation of a private transaction takes significantly longer than any of the previous privacy schemes approaching a minute on a powerful computer and much longer for lesser systems. This makes it less likely for people to use its privacy features and also may exclude less powerful systems such as mobile devices.\n\nSo although Zerocash offers potentially the highest anonymity, it does this at the cost of supply auditability combined with a complicated trusted setup, the use of new cryptography and a long generation time to create private transactions.\n\n## Summary\nEvery anonymity scheme has its own sets of benefits and trade-offs and we believe that continuous exploration and research of these privacy schemes can only serve to improve blockchain privacy as a whole. We at Zcoin strongly believe that the Zerocoin protocol compares very favorably to other anonymity schemes by providing a very well rounded anonymity package, giving very strong anonymity using proven cryptography while remaining scalable and auditable. We continue to research into ways to further improve Zerocoin.\n\n![DQmSzRp3XQCXwQ1Y14jTNLcBw1XQ9rZ6oNz1XbnZxHomME3_1680x8400.png](https://steemitimages.com/DQmWk8hgcp8xU9t8URvNWQEswGXvD3yksk7u3Jjmiwxz2Lf/DQmSzRp3XQCXwQ1Y14jTNLcBw1XQ9rZ6oNz1XbnZxHomME3_1680x8400.png)\n\nI hope this article gives you a much better understanding of how various privacy tech works on the blockchain!",
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      "body": "Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:\nhttps://zcoin.io/zcoins-privacy-technology-compares-competition/",
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      "title": "Excerpt from zcoinofficial (no rewards)",
      "body": "This post will hopefully give you a brief overview of the major blockchain privacy mechanisms that are implemented in cryptocurrencies today and in particular how the Zerocoin protocol used in Zcoin stacks up.\n\nBlockchain privacy is a particularly difficult thing to achieve as a public blockchain is designed so that all transactions are transparent and the supply of coins can be publicly verified. Privacy mechanisms have to ensure that these elements are preserved so it’s a conflicting mix of protecting privacy while maintaining public verifiability. To understand the innovation behind Zerocoin, we need to examine the history of blockchain privacy.\n\n## Cryptocurrency Tumblers and Coinjoin\n### As used in: Dash, PIVX\n\n### Pros:\n#### \n- Works on top of most cryptocurrencies without the need for specific consensus rules\n- Relatively simple to implement\n- Lightweight\n\n### Cons:\n#### \n- Basic anonymity\n- Requires mixers to be online\n- Earlier implementations involve trust in a third party mixer\n### \nOne of the first methods people sought to achieve this was through the use of cryptocurrency tumblers. They work by mixing funds with others by sending your coins to other people and then giving their coins to you. An easy way to visualize this is a group of people each putting the same number of coins into a common pot, mixing it up and then taking the same amount of coins back from which you started with. The idea is that it is now hard to prove whose coin originally belonged to who thus providing some degree of privacy. This comes with several drawbacks, foremost that you need to trust the tumbler not to steal your coins.\n\nCoinjoin is an improvement of this mixing idea and removes the possibility for the tumbler to steal the coins, it was popularly used in Darkcoin (now known as Dash). However there are still many drawbacks with Coinjoin.\n\n![DQmR4on6itWrZ9MQA8Tixp7Arx2PtWYxYTDDfeUf5aMgEoX.png](https://steemitimages.com/DQmR4on6itWrZ9MQA8Tixp7Arx2PtWYxYTDDfeUf5aMgEoX/DQmR4on6itWrZ9MQA8Tixp7Arx2PtWYxYTDDfeUf5aMgEoX.png)\n\n- You need to trust the tumbler for your anonymity as the mixer can log identifiable information and knows how the mix is happening along with each user’s input address and the address they are receiving coins to. This issue can be avoided by using blind digital signatures but then the anonymity of coinjoin relies strongly on the possibility to connect to the tumbler in an anonymous manner, e.g., via the Tor network.\n- It requires people involved in the mixing to be online for a mixing transaction to happen. If no one wants to mix for the right denominations, your mix can be delayed.\n- The anonymity is limited by the amount of people you mix with. A typical round of Dash’s privatesend mixing involves 3 participants only though this can be repeated.\n- Even with multiple rounds of CoinJoin mixing, recent research (https://arxiv.org/pdf/1708.04748.pdf) shows that a user’s wallet can be identified if they are not careful with browser cookies when making payments because mixing only obscures the transaction links between addresses but does not break them completely.\n- It is easy to disrupt a run of Coinjoin and delay the completion of the coinjoin transaction for the other participants.\nOther improvements to CoinJoin such as CoinShuffle++ removed the need for a trusted third party but are still subject to the other drawbacks of CoinJoin namely a limited anonymity set and the requirement that participants are online.\n\nThe main benefit of Coinjoin type schemes is that they are relatively simple and work on top of the cryptocurrency without the need to use specific consensus rules. With appropriate precautions, CoinJoin can provide a basic degree of anonymity.\n\n## Cryptonote and Ring Signatures\n### As used in: Monero\n\n### Pros:\n#### \n- No need for a mixer and mixing is done automatically\n- Can be implemented with privacy on by default\n- Anonymity increases as time passes as outputs become the new inputs of new mixes\n- Hides transaction amounts when implemented with RingCT\n- Well researched cryptography\n\n### Cons:\n#### \n- Scalability issues because of large transaction sizes and a non prunable blockchain\n- Risks of blockchain being deanonymized in the future or through incorrect implementations\n- Cannot take advantage of existing Bitcoin ecosystem and requires separate integration work\n- Ring size is practically limited\n### \nThe next anonymity scheme we will explore is ring signatures as used in Cryptonote currencies such as Monero which greatly improves anonymity over Coinjoin type schemes. A ring signature works by proving someone signed the transaction from a group of people without revealing which person it was. One common proposed use case of ring signatures is for it to be used to provide an anonymous signature from a “high ranking White House official” without revealing which official signed the message.\n\nCryptonote uses ring signatures in a way whereby a user can craft a transaction and use the outputs of other similar transactions on the blockchain automatically to form the inputs to a ring signature transaction so that it is unclear which input belongs to the person actually doing the transaction. It does this automatically without requiring other users to specify that they wish to mix and does not need to wait for other people to provide funds since it’s just scanning the blockchain for those outputs to use. As there is no mixer, there’s no mixer you need to trust. Monero also recently implemented RingCT (Ring Confidential Transactions) which hides transaction amounts as well.\n\n![DQmQwh4mGVxBUo5tDLa9bAVdfKCzJ71c9nNzDFsG4q4SxRi_1680x8400.png](https://steemitimages.com/DQmZD6uFVKUwFMBNn4ES6pTrXowqABEc8Db5SJD9CNQhXTQ/DQmQwh4mGVxBUo5tDLa9bAVdfKCzJ71c9nNzDFsG4q4SxRi_1680x8400.png)\n\nThe main drawback of Cryptonote is that its transactions especially with RingCT are very large occupying several kilobytes and this greatly increases the amount of storage space required to store the blockchain. There currently isn’t any way to prune spend outputs in a Cryptonote blockchain like in Bitcoin. Using an entirely different codebase than Bitcoin also means third parties have to do more work to integrate Cryptonote into their existing ecosystems.\n\nRing signatures as currently implemented in Cryptonote currencies also have limitations in terms of practical ring size (the number of other outputs you are taking) as the size of a transaction grows linearly as the ring size increases. This is why by default Monero has a relatively small default ring size of 4. In fact, using a different ring size then the default might unintentionally deanonymize you by highlighting it. This means on a per transaction basis, the anonymity is limited by the number of participants in the ring. Blockchain analysts although they might not be able to prove transactions are linked, they can calculate the odds that they are.\n\nAnother criticism of Cryptonote is that if there’s a weakness in its ring signature implementation or a reasonably powerful quantum computer becomes feasible, the entire blockchain history is deanonymized and retroactively exposed. This cannot be fixed after the fact. In fact, a flawed implementation in a Cryptonote currency called Shadowcash allowed for its blockchain to be deanonymized in its entirety.\n\nIt is also to be noted that with RingCT which hides transaction amounts, this sacrifices supply auditability. Supply auditability means the ability to verify that no new coins are being secretly generated and to know exactly how many coins exist at a point in time. In Monero’s implementation of RingCT, someone who breaks the discrete logarithm that underpins RingCT can forge coins without anyone knowing it, granted it is probably very hard to do so with current knowledge and technology.\n\nDespite these drawbacks, Cryptonote today has proven itself to be one of the better and well reviewed privacy technologies out there and the only instances where it has been publicly deanonymized arose from improper implementation such as the Shadowcash fiasco or through the use of mixin-0 transaction in Monero which resulted in a cascade effect that rendered 87% of inputs traceable (https://eprint.iacr.org/2017/338) (which were subsequently mitigated for newer transactions). Cryptonote solves many of the problems of cryptocurrency tumblers and offers good anonymity at the cost of scalability with large transaction sizes and a non prunable blockchain.\n\n## Zerocoin and Zcoin\n### As used in: Zcoin\n\n### Pros:\n#### \n- No need for a mixer\n- Very high anonymity in the many thousands (if not more) with a single mint and spend transaction and completely breaks transaction links between addresses.\n- Retains supply auditability\n- Uses well researched cryptography\n### Cons:\n#### \n- Proof sizes are currently large\n- Requires a trusted setup\n- Incorrect implementation or leakage of trusted setup parameters can lead to forgery of coins.\n- Some care is required when doing Zerocoin mints and spends.\n### \nWe now come to Zerocoin as implemented in Zcoin. Unlike the previous anonymity schemes which involve obscuring the real transactions with other inputs or transactions, the Zerocoin protocol completely breaks the transaction links between coins through the use of zero knowledge proofs.\n\nIn simple terms, a zero knowledge proof is a proof you did something or know something without revealing any other information other than you did it. For example, proving that you know a password without actually revealing the password.\n\nZerocoin works by allowing you to burn coins up (otherwise known a Zerocoin mint) and then later redeem an equivalent number of brand new coins (known as a Zerocoin spend). These coins appear with no prior transaction history and are similar to newly mined coins. The zk-proof is used to prove that you indeed burnt coins without revealing the specific coins that you burnt and therefore are entitled to redeem an equivalent number of new clean coins.\n\n![DQmPp4F2aQvEHxkjnNGhSWd5DDMwUH7osSbyLravx5fgp7C.png](https://steemitimages.com/DQmPp4F2aQvEHxkjnNGhSWd5DDMwUH7osSbyLravx5fgp7C/DQmPp4F2aQvEHxkjnNGhSWd5DDMwUH7osSbyLravx5fgp7C.png)\n\nThis means that unlike in Coinjoin and Cryptonote where the anonymity set is limited by either the number of participants or the ring size, Zerocoin would allow you an anonymity set of every other person who has done a Zerocoin mint of a particular denomination and achieve this immediately. This allows the anonymity set to scale into the many thousands with a single Zerocoin mint and spend cycle. Also the coins truly have their transaction links broken as they appear as completely brand new coins compared to merely being obscured through previous methods.\n\nThis anonymity scheme is not without some drawbacks. In return for the huge anonymity set and breaking of transaction links, Zerocoin requires a one time trusted setup to generate initial parameters. In Zerocoin these are two very large prime numbers that need to be destroyed. Knowledge of these two large prime numbers would allow someone to forge Zerocoin spends and create coins out of thin air. To mitigate this, Zcoin uses parameters from the RSA Factoring Challenge held in 1991 where they took special steps to destroy the prime numbers and had a USD200,000 bounty to successfully factor it for 16 years before the challenge was ended. Till today the RSA-2048 parameters used remain to the best of our knowledge unfactored and 2048 bit RSA remains widely used today having stood the test of time at least until the advent of quantum computing.\n\n![DQmTibdjA6WiaHHDV7UC4ePnAFBovWea8tUa94wEBZLBKum_1680x8400.png](https://steemitimages.com/DQmT8bXNZMELAB2h6BBUyPLPLYyCaB71EEJu4CJ4fJLuF9J/DQmTibdjA6WiaHHDV7UC4ePnAFBovWea8tUa94wEBZLBKum_1680x8400.png)\n\nIt is worth noting that the knowledge of these two primes or successful factoring will not compromise the anonymity of Zerocoin merely allowing the forging of coins. Additionally this is mitigated that Zcoin’s supply is auditable so the forging of coins can be detected. In fact due to a bug in the implementation (and not from the breaking of RSA), the forging of coins actually happened to Zcoin but was thankfully detected and stopped. It goes to show how in zero knowledge proof coins which involve some form of burning and creation of new coins, supply auditability is particularly important.\n\nAnother limitation of Zerocoin is that fixed denominations need to be used for minting and spending and the zero knowledge proof sizes for a Zerocoin spend are relatively large at 25 kb, comparable to a RingCT transaction. It is to be noted that unlike in Cryptonote whereby all transactions are to be of this size, only Zerocoin spend transactions occupy this amount of space with normal transactions occupying the same size as Bitcoin transactions. Zerocoin spend transactions are also comparatively computationally intensive to verify taking about half a second to do so.\n\nAlso incorrect use or predictable use of Zerocoin mint and spend transactions such as always minting and spending at regular intervals or using the same IP address for a mint and spend can possibly compromise anonymity thus some care is required.\n\nSumming up, Zerocoin offers very strong anonymity with a huge anonymity set with no transaction linking but currently requires a trusted setup, additional storage on the blockchain and additional computational resources to verify. Despite this, there is research that show that removing trusted setup and reducing proof sizes are possible with Zerocoin through the use of the Sigma protocol and the Zcoin team are currently researching and evaluating its use further.\n\n## Zerocash and Zcash\n### As used in: Zcash, Zencash, Komodo\n\n### Pros:\n#### \n- Potentially the best anonymity set encompassing all coins minted and breaks transaction links between addresses.\n- Proof sizes are small and fast to verify\n- Hides transaction amounts\n- No need for conversion to a base coin and anonymized coins can be sent directly to each other.\n### Cons:\n#### \n- Private transactions take a while to generate (almost a minute on a decently powerful computer)\n- Complicated trusted setup that has to be done by the developers.\n- Incorrect implementation or leakage of trusted setup parameters can lead to forgery of coins.\n- Supply cannot be audited therefore forgery can be very difficult to detect.\n- Uses relatively new cryptography\n### \nThe final anonymity scheme we will consider is the Zerocash protocol as used in ZCash. Zerocash builds on the work of Zerocoin and seeks to address the perceived shortcomings of Zerocoin. With Zerocash and its use of zkSNARKs, proof sizes are now only 1 kb and are very fast to verify. Furthermore, all transaction amounts are hidden and there is no longer a need to use fixed denominations when doing a minting transaction. Zerocash also allows people to transfer Zerocash’s equivalent of ‘Zerocoins’ to each other without the need to convert back into the base coin. Its anonymity set is also the largest among all previous anonymity schemes involving all minted coins regardless of denomination on the blockchain.\n\nA cursory glance at this would make it seem that Zerocash makes Zerocoin obsolete. However to achieve this, it had to trade off certain benefits that Zerocoin has.\n\nFirst of all Zerocash lacks supply auditability. Like Zerocoin, Zerocash requires a trusted setup but Zerocash’s setup is much more complicated. Zcash utilized a multi party ceremony involving 6 people setup in a way that the only way these parameters could be leaked is if all 6 in the ceremony colluded to retain the keys. In other words you have to trust any of these 6 people that they destroyed the initial parameters and also trust that the ceremony was carried out correctly.\n\n![DQmSzx5YBZicFZWZfS39P946J3M4AA36GW6itFoE5LW3ze4.png](https://steemitimages.com/DQmSzx5YBZicFZWZfS39P946J3M4AA36GW6itFoE5LW3ze4/DQmSzx5YBZicFZWZfS39P946J3M4AA36GW6itFoE5LW3ze4.png)\n\nIf there is a bug in the code, or a cryptographic flaw or an issue with the multi party trusted setup, an attacker can possibly generate unlimited Zcash and unlike in Zerocoin, this additional supply cannot be detected. Especially in a system that operates on similar principles with Zerocoin that allows the creation of new coins, supply auditability becomes increasingly important.\n\nAnother trade off is the use of new cryptography called zkSNARKs which are effectively only used in Zerocash. There is a lot less scrutiny on it and therefore is not as battle tested as RSA which has been in use and reviewed for many years and continues to be widely used.\n\nThe other main drawback of Zerocash is that due to the complex math required, the generation of a private transaction takes significantly longer than any of the previous privacy schemes approaching a minute on a powerful computer and much longer for lesser systems. This makes it less likely for people to use its privacy features and also may exclude less powerful systems such as mobile devices.\n\nSo although Zerocash offers potentially the highest anonymity, it does this at the cost of supply auditability combined with a complicated trusted setup, the use of new cryptography and a long generation time to create private transactions.\n\n## Summary\nEvery anonymity scheme has its own sets of benefits and trade-offs and we believe that continuous exploration and research of these privacy schemes can only serve to improve blockchain privacy as a whole. We at Zcoin strongly believe that the Zerocoin protocol compares very favorably to other anonymity schemes by providing a very well rounded anonymity package, giving very strong anonymity using proven cryptography while remaining scalable and auditable. We continue to research into ways to further improve Zerocoin.\n\n![DQmSzRp3XQCXwQ1Y14jTNLcBw1XQ9rZ6oNz1XbnZxHomME3_1680x8400.png](https://steemitimages.com/DQmWk8hgcp8xU9t8URvNWQEswGXvD3yksk7u3Jjmiwxz2Lf/DQmSzRp3XQCXwQ1Y14jTNLcBw1XQ9rZ6oNz1XbnZxHomME3_1680x8400.png)\n\nI hope this article gives you a much better understanding of how various privacy tech works on the blockchain!",
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      "body": "Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:\nhttps://medium.com/@cstoecker/implementing-first-industry-4-0-use-cases-with-iota-dag-tangle-machine-tagging-for-digital-twins-baf1943c499d",
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      "permlink": "iota-dag-tangle",
      "title": "IOTA DAG Tangle",
      "body": "Implementing first Industry 4.0 Use Cases with IOTA DAG Tangle — Machine Tagging for Digital Twins Industry 4.0 is powered by the fusion of technologies that are connecting the dots between the physical, digital and biological spheres.\n\nA variety of disruptive industry 4.0 technologies are now at their tipping point of being widely adopted in the next years. These technologies include — among others — electric cars, intelligent autonomous machines, decentral energy infrastructure, 3D printers, blockchain and AI/ML.\n\nThe combination of machines with blockchain and especially the IOTA protocol transforms these machines into economically independent devices that can transact among each other and form the basis of a Machine Economy in the 4th Industrial Revolution.\n\nIn this blogpost my preferred industry 4.0 use case will be described as a first example where the IOTA protocol can be applied in practice today: IOTA for tagging of physical machines in a digital twin architecture (proof-of-concept). This use case combines some very important decentral technologies such as IPFS, IPLD and BigchainDB for file storage and database layer with the DAG (directed acyclic graph) tangle as well.\n\nWe decided with this use case to start using IOTA in our project as it is practicable to implement and clearly demonstrates selected very compelling features of the DAG tangle.\n\nI will describe how we are exploring IOTA in a second industry 4.0 blogpost about Share & Charge EV car charging (conceptual).\n\n### Digital Twin: Every Product has its own Story\n\nOne of our main Industry 4.0 innovation projects is the digital twin (or digital product memory). A digital twin is a digital representation of a physical, biological or digital object. Our innogy Digital Twin project “Twin of Things” seeks to give every physical object a story. innogy is now forming an open IoT and supply chain ecosystem to bring this vision into reality.\n\n![1*s0Da8mqgARZW9QtREjH6ag.png](https://steemitimages.com/DQmbGcqjeDfXUan5JYtfTuyyiuHJR5iZqsN7J94irZxTkDG/1*s0Da8mqgARZW9QtREjH6ag.png)\n\nConnecting the digital, physical and biological spheres with the digital twin concept\nA digital twin can be created with manufacturing, production and design parameters even before a physical object is even existing telling a manufacturing unit how a physical object needs to be produced. It can store data how the object was assembled, tested, transported, deployed, operated or decommissioned.\n\nThe digital twin is a key concept for bringing industry 4.0 to life supporting a broad variety of industry domains including Energy, Mobility, Supply Chain, Consumer Goods or Health Care. It provides many technical benefits for different use cases and solves many of today’s problems while fulfilling industry requirements such as batch size 1 manufacturing, back-to-birth-traceability, provenance, authenticity, tracking, optimization, auditing and compliance.\n\n![1*Pig9XwK3wXrznImQtt8oMA.png](https://steemitimages.com/DQmdb9QDnZAeihUPUUg9X3uutsJMPZZgU3rR2r5oSiiCb11/1*Pig9XwK3wXrznImQtt8oMA.png)\n\nHigh-level Digital Twin Value Proposition\nIn addition a digital twin enables further innovation by establishing a digital experience among objects and their owners and or by opening up new forms of marketing.\n\nMarketing can move from person focused marketing to object marketing. A manufacturer or retail organization selling a handbag for example is trying to get hold of the personal data of a customer at the point of sales. A user is typically offered a loyalty programme to provide the data in return. The manufacturer or the retail store have all what they need to exploit these personal data for their own purposes.\n\nDigital Twins in Marketing\nA physical object with a digital twin will change old fashioned loyality programme marketing dramatically. A manufacturer or retail store do not need the personal data any more. They only need to know the object identity which enables a marketing function to send marketing and sales messages directly into the digital twin. A customer with its registered objects in an App will get an alert whenever a message from a marketing functions arrives in one of its digital twins. And of course a customer can decide to disable the alert or take write access away for the third parties.\n\nThe object marketing is a very powerful new marketing tool for the customer shifting the balance from corporate marketing functions to customers. In addition, object owner can connect anonymously among each other to share their product experience by sending messages among each digital twins. And of course a customer can disable this community feature as well.\nIn addition a digital twin can store, manipulate and transfer tokens. This includes access tokens, token of value, loyalty tokens or proof of something tokens (e.g. product age smaller 5 years, compliance token, authenticity token).\nThere are a lot more unexplored innovative features within this technology.\n\nTechnical Implementation\nAs objects are interacting with other entities over their life cycle, ease of interaction with the digital twin and control over object data are key features that can be fulfilled with decentral, blockchain-like solutions. The other key feature is the cryptographically secure tagging of objects.\n\nTo implement a decentral digital twin solution the respective object data need to be stored in a decentral database, connected with analytics and gathered from a physical object or machine.\n\nThis leads to the following high-level technical requirements:\n\nAd 1. Data Storage\nInteroperability along the life cycle\nImmutability of the data for compliance, trust and auditing\nGDPR compliant data access management and transfer of assets empowering the object owner’s control over the data and the object\nData indexing and queries for analytics\nWe are using BigchainDB as decentral database for storing data in an immutable way and to enable analytics on top of a database. We use BigchainDB Access tokens to for access management giving full control about the data to the owner of the object. A variety of Automakers are starting to explore the potential of a blockchainified database layer.\n\nAd 2. Data Gathering\nTagging of objects to provide a cryptographically secure identity\nData authenticity of data gathered from an object linked to its IOTA identity\nData integrity of data gathered from an object ensuring that a third party has not tampered with the data in the communication layer\nData encryption\nWe are testing IOTA for tagging machines and providing a secure and trusted data transaction layer for extracting data out of the machines into the digital twin.\n\nIOTA on the Device\nWe start using IOTA to tag physical machines giving machines an identity on the DAG tangle. These identities are then stored in the DAG tangle and in a device registry which, is in our case, on BigchainDB.\n\nDigital Twin Architecture\nIn addition to the IOTA device identity further metadata or attributes are stored in the registry describing the device and making it searchable in the indexed database.\nThe IOTA integration with IoT devices provides integrity and authenticity of data gathered from sensors or sent to actuators of a device.\n\nTo address vulnerabilities inside a machine — e.g. via message injection through a malicious third party — the sensors or actuators receive their own cryptographic identity using methods such as crypto chips or IOTA light nodes on sensor / actuator level. The identities of sensors / actuators are registered in the DAG tangle.\n\nAll these devices communicate inside a machine with an IOTA gateway note that acts as or it is integrated with a telematics gateway connecting sensors and actuators with systems in the outside world, especially our digital twin platform. A more complex machine can have its own IOTA DAG tangle sub-branch or even clusters of sub-branches validating transactions and dataflow inside the machine.\n\nCarPass: Vehicle Telematics Data in a Digital Twin\nA practicable first application of a digital twin with IOTA is CarPass for vehicles telematics data. The CarPass solution securely captures telematics data (e.g. mileage, trips, environmental, maintenance data) and stores them immutable in the digital twin for private passenger, fleet or commercial vehicles.\n\nWorking CarPass Implementation\nThis special digital twin enables a vehicle to tell its story where it went, what it did and how it was treated. The car´s history along its lifecycle is captured in the digital twin. This provides many benefits for fleet managers, work shops, processes involving multiple parties, logistics companies or cold chain operators.\nAs the most simple and straightforward benefit this solution provides an auditable and tamper-proof mileage history, preventing odometer fraud in the second hand car market.\n\nHow was the car driven? Few trips long distance or many trips short distance? How was it maintained? The answer to these questions pretty much determines the value of the car. CarPass can answer these questions in a trusted way.\n\ninnogy is now piloting IOTA for ensuring this trust in telematics data coming out of a vehicle. We are connecting the IOTA node with a telematics device. A further step might be to integrate IOTA in a telematics device itself. Further integration with sensors and actuators in a vehicle will be evaluated in order to extend the trust into the vhicle infrastructure down to the sensor level.\nThis end-to-end architecture is especially important to eliminate vulnerabilities for tampering via e.g. malicious message injection inside a car.\n\nIOTA is a young technology with a not yet fully proven cryptographic foundation, but with a promising potential that deserves adoption for initial use case testing and prototyping.\n\nOf course there are real world and cyber security risks in adopting such a technology. We are aware of the risks and the development roadmap of missing features going forward. We believe that building prototypes is a reasonable way to better understand the technology and its underlying risks.\n\nIn partnership with other enterprises and key teams including the IOTA foundation, innogy gets new ideas to live, in order to demonstrate through concrete examples the capabilities and potentials of blockchain technologies as it relates to physical assets, objects, machines and devices.",
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