Edit:
There tends to be a lot of unneeded negativity on online forums in general, and bitcointalk announcements in particular. This is because of so-called "scam coins". Our lead developer created Vertcoin one of the top FIVE most valuable cryptocurrencies this February, and the first to offer adaptive memory mining algorithm to help prevent ASIC domination. He will post on twitter shortly to verify his identity
We were planning to do giveaways on this thread, but apparently giveaways are not allowed, sorry =(
What is ZeroVert?
Bitcoin is often perceived as an anonymous payment network. But in reality, Bitcoin is probably the most transparent payment network in the world. Bitcoin works with an unprecedented level of transparency that most people are not used to dealing with. All Bitcoin transactions are public, traceable, and permanently stored in the Bitcoin network.
When Satoshi created Bitcoin, he or she solved the double spending problem by broadcasting all transactions on a permanent public ledger. A byproduct of having all transactions placed on a public ledger is that privacy is sacrificed.
Notable studies have shown that the same techniques used to analyze social network topology can be used to analyze Bitcoin's network topology. Anyone can use the public ledger to break privacy, including powerful corporations and institutions such as the NSA. The powers of large corporations and Big Brother have increased dramatically, and it is time to fight for your right to privacy.
ZeroVert (ZER) completely solves the privacy problem of Bitcoin and all preceding cryptocurrencies. It is the first cryptocurrency to implement the Zerocoin protocol, guaranteeing complete anonymity through zero-knowledge cryptographic proofs.
Why ZeroVert?
Bitcoin and preceding alternative cryptocurrencies have attempted to solve this problem through the use of transaction mixers or ring signatures. However, there are a number of drawbacks to these proposed solutions. For one, a malicious or compromised member of a mixer or ring signature could break privacy. Furthermore, the anonymity set is a key metric to understanding how private a cryptocurrency is. The anonymity set in formerly proposed solutions is limited by the size of the mixing cycle or ring signature. Each mixing cycle or ring signature is limited by the number of transactions per cycle, which is transitively limited by the the block size of the cryptocurrency. Thus, the anonymity set in previous attempts at privacy tends to only be a few hundred transactions.
With ZeroVert, the anonymity set is set to a dramatically higher magnitude. Instead of having an anonymity set limited in the few hundreds, ZeroVert has an anonymity set that encompasses all "minted coins" in the ZeroVert system. The magnitude of the anonymity set is on the order of millions, rather than hundreds - it makes all previous alternative cryptocurrencies aimed at privacy obsolete.
Team
The ZeroVert team is dedicated to offering you the new gold standard in cryptocurrency privacy.
The founding team includes:
Poramin, who was also the designer and lead developer of Vertcoin - one of the top 5 most valuable cryptocurrencies by market-cap this February.
Gary, who invented the world's first cryptographic protocol to conduct Bitcoin-denominated peer-to-peer atomic cross chain option contracts for alternative cryptocurrencies.
Specifications
Release date: November 5th, 2014 (Guy Fawkes Day)
Hashing algorithm: Scrypt-N
Est. ~8.4M Max Coins
2% Allocated to ZeroVert Foundation for future development and improvements, .5% for free giveaways
Anonymity Protocol: Zerocoin (original paper can be read
here)
Contact
Facebook :
https://www.facebook.com/zerovertTwitter :
https://twitter.com/zerovertReddit :
http://www.reddit.com/r/zerovert/
