What does zerocoin protocol do?
https://steemit.com/deal/@vergelife/what-s-the-dealOnce we code "zDEAL" for PYRAwallet it provides is a protocol-level coin mixing service using zero knowledge proofs to sever the link between the sender and the receiver with 100% anonymity and untraceability. This means that each coin that gets sent using zDEAL is now 100% fungible as it has no determinable history attached to them.
The use of zDEAL also means your balance can be masked to avoid being targeted by potential thieves.
zDEAL accumulators are encrypted using RSA-2048[1] challenge generated keys which negates the need for a developer trusted setup and means that no individual knows the factors. This means that everyone?s privacy is ensured through the use of zDEAL.
HOW ANONYMITY IS ACHIEVED
Mint (convert) your DEAL into zDEAL denominations. (Wallet auto-mints some by default)
Spend (send) your zDEAL as DEAL to any internal or external DEAL wallet address
Essentially the zerocoin protocol pools (thus combines) all the zDEAL that people have converted (minted) from their DEAL balance into set denominations and uses them to send when a spend is initiated. Keep in mind that the pooling does not mean that everyone?s zDEAL is stored in a centralized location. Rather, the public ledger (decentralized blockchain) keeps track of how many zDEAL are created.
When you want to send (spent) some zDEAL amount to a DEAL address, your wallet sends a zero-knowledge proof to the blockchain that allows the zDEAL to be converted back to DEAL and sent to the target address all in a single step.
Since zDEAL spending creates brand new coins if a spender can provide zero-knowledge proof that she has coins in the accumulated pool (accumulator), the coin?s transaction history from its previously associated addresses become unlinked and thus results in an untraceable transaction..." Hopefully that clears up that questions or at least is technical enough for you to smile and nod with a complimentary "...sounds good to me..."
At any rate, the ultimate point is this... They have a very active community, some hard-working developers, and at less than 5 satoshi (at the time of writing) you have the opportunity to get into a growing project at NEARLY the beginning.
Take a quick stop to their telegram channel here:
https://t.me/IdealCashCryptoCurrency and you'll a great community of excited crypto enthusiasts seeping with excitement about the future of this project. Their giddy optimism is encouraging and dare I say contagious...
You can pick up IdealCash at the following exchanges:
ICQBase.com
