Edward Snowden played a key role in the launch of ZCash
And his desire to help make the ceremony a success
Former National Security and CIA employee Edward Snowden revealed his involvement in the launch of the cryptocurrency focused on confidentiality in 2016. He spoke about this in a video for Zcash Media, a media group that produces educational content for the digital coin.
“When you start ZCash, a cryptographic key is created, which is used to lock the code, managing the digital currency. After that, no one will be able to falsify transactions.”
– is explained in the video.
In this case, users need to trust the developer. To solve this problem, the ZCash team decided to share the key between six participants in the so-called “trusted installation”.
If at least one of the owners of the fragment destroys it, the security of the network will be guaranteed.
Edward Snowden and his desire to help make the ceremony a success
Shortly after the Genesis bloc was launched, five members revealed their identities. The sixth, under the pseudonym John Dobertin, was Snowden.
“When it came to this concept, several people from different places collaborated in the hope that at least one of them would not be compromised and would not oppose the public interest, which is necessary for the success of the ceremony, I was happy to say: Of course it will help. “
– said the former CIA employee.
The informant has been in Russia since 2013, where he was granted political asylum.
Two years later, the procedure was repeated to update Sapling. The developers expect to eliminate the need for such ceremonies with the Halo setup.
Even before the launch of the ZCash cryptocurrency, Snowden drew attention to it, noting the potential for anonymity.
Earlier, he said the public bitcoin blockchain was its main drawback. Edward confirmed his position in the video from Zcash Media:
“When we look at digital currency, we see that its cryptographic properties are used to guarantee the validity of the book, but not to guarantee its confidentiality. It is well known that BTC has a public book. The problem is that you really can’t have free trade if you don’t have a private one. There can be no independent society without free trade.”