Small but mandatory update

The last month proved to be quite intense and many events occurred during this short time frame. One of my major concerns regarding the last part of my zk-snarks implementation was space-efficiency.

The Zcash protocol is based on satoshi codebase. Not much wrong with that, but I do believe that in order to scale with the upcoming Internet-of-Things ecosystem,
space-efficiency is mandatory and in fact, a key characaristic of Sucash (proof-of-reference).

I did a quick rewind on the bucket system of Zcash last week and figured a ZK-SNARK could be achieved more easily otherwise by what I will now refer to as Trusted Key Drops (TKD).

Trusted Key Drops

A Trusted Key Drop is comparable to a person that drops the keys to his safe, on the ground. However, in this instance, these keys are our own public and private keys.

If a user chooses to create a TKD, his public and private keys will be merged. Creating a TKD-address:

95033f2f2712fc65f68f23c7047149940a0c6f06a2DGg9e7Ea08f48714b7d9ah

When another user chooses to pick up a ‘TKD', a new public and private key will be given as output. Locking out any other (old) users. Since old keys will be wiped from the chain, there is zero knowledge about who, what, when and where.

The idea of Sucash is grown out of three key principals Bitcoin and many other cryptocurrencies failed to achieve. Being swift, lightweight and userfriendly. TKD’s achieve this, and can be used in many cases such as the allowance of strong anonimity and off-chain transactions. It’s a clever method which stems from the Zcash bucket system, but works a lot faster, more efficient and flexible in coding. It has many characaristics of real world experiences making it super userfriendly, aswell.

--

I'm implementing this as we speak. Some parts of the Zcash bucket system can still be used. It might take some time, but I do believe im heading in a better direction then before. The project takes much of my time and energy. I'm getting some help and building a team as we speak. Especially when it comes to testing this in combination with the proof-of-reference structure we've got running. For now my study is still top priority. If the project grows this might change. I see huge potential.

I'd like to thank you all for your interest thus far. Especially the guys that reached out to me in PM's. Hold tight.

Had to finish some important study related work. More to come.

There will be no fork of Zcash, I just used their zk-snarks method and structure as a foundation of directions I am going.

Sucash / Suchain.

Sucash is based on double structured cryptography which results in strong anonimity, swift transactions and a lightweight network (suchain). To achieve this, I will be using zk-SNARKs, partly based on the Zcash protocol for anonymity and what I will now refer to as proof-of-reference to maintain a secure ledger. Result: Strong anonymity whilst keeping the transaction network small, fast and lightweight.

After multiple phases of testing the Zcash protocol I believe it is one of the strongest forms of anonymity. Reason for this is because Zcash uses zK-SNARKs (zero knowledge proofs) to avoid disclosing the parties and funds involved. Proof systems like these are reminiscent of cryptosystems with perfect secrecy. Sucash can be shifted into different phases (private/protected), locking it into a bucket, removing its transaction history. The buckets are encrypted and can be exchanged with one another.

I’ve taken the Zcash protocol and had to remove some essential parts for the viewkeys in order to combine and implement the proof-of-reference structure i’ve been working on for the last year. This structure carries a proof-of-work and ‘reference’ of multiple previous transactions allowing each transaction to confirm the other creating a Direct Acyclic Graph (DAG) of transactions (suchain). There are no blocks within the suchain and each transaction carries it’s own proof-of-work creating a slim and swift payment network while keeping satoshi’s core principles of decentralisation, privacy and unforgeability.

For the next month I will be focusing on the code and whitepaper. Not sure about when/how to release yet, as I care for fair distribution.

I definitely love doing this, and enjoy meeting like-minded people. I'd like this to become a project that breaths the open-source spirit bitcoin once started with and so I appreciate any help.




Update 23-3-2016


Small but mandatory update

The last month proved to be quite intense and many events occurred during this short time frame. One of my major concerns regarding the last part of my zk-snarks implementation was space-efficiency.

The Zcash protocol is based on satoshi codebase. Not much wrong with that, but I do believe that in order to scale with the upcoming Internet-of-Things ecosystem,
space-efficiency is mandatory and in fact, a key characaristic of Sucash (proof-of-reference).

I did a quick rewind on the bucket system of Zcash last week and figured a ZK-SNARK could be achieved more easily otherwise by what I will now refer to as Trusted Key Drops (TKD).

Trusted Key Drops

A Trusted Key Drop is comparable to a person that drops the keys to his safe, on the ground. However, in this instance, these keys are our own public and private keys.

If a user chooses to create a TKD, his public and private keys will be merged. Creating a TKD-address:

95033f2f2712fc65f68f23c7047149940a0c6f06a2DGg9e7Ea08f48714b7d9ah

When another user chooses to pick up a ‘TKD', a new public and private key will be given as output. Locking out any other (old) users. Since old keys will be wiped from the chain, there is zero knowledge about who, what, when and where.

The idea of Sucash is grown out of three key principals Bitcoin and many other cryptocurrencies failed to achieve. Being swift, lightweight and userfriendly. TKD’s achieve this, and can be used in many cases such as the allowance of strong anonimity and off-chain transactions. It’s a clever method which stems from the Zcash bucket system, but works a lot faster, more efficient and flexible in coding. It has many characaristics of real world experiences making it super userfriendly, aswell.

--

I'm implementing this as we speak. Some parts of the Zcash bucket system can still be used. It might take some time, but I do believe im heading in a better direction then before. The project takes much of my time and energy. I'm getting some help and building a team as we speak. Especially when it comes to testing this in combination with the proof-of-reference structure we've got running. For now my study is still top priority. If the project grows this might change. I see huge potential.

I'd like to thank you all for your interest thus far. Especially the guys that reached out to me in PM's. Hold tight.