The ECC or Electric Coin Co, the entity liable for the advancement of privacy coin Zcash [ZEC], revealed its new code for the blockchain & cryptocurrency community.
The company opened its Halo 2 source code – “an updated, more efficient version of ECC’s recursive proof composition that eliminates the necessity for a trusted setup in Zcash,” said earlier within a recent official web-blog post from the ECC. “It might also advance a promising scalability solution for Zcash & other blockchains,” the post added, noting the Halo structure adds speed, among other things.
While initiating a personal network with Zcash utilizing Zero-Knowledge Succinct Non-Interactive Argument of data, or zk-SNARKs, requires a trusted setup. This specifically means specific, choice parties must oversee the network within the beginning. The new Halo 2 source code permits for process completion without trusted setups when employing Zcash.
The Ethereum Foundation also helped within the development of Halo 2, the blog post mentioned, noting trusted setups will be a thing of the past by next year if all goes consistent with the ECC’s goals. “This would also set the stage for future support of recursive proofs in support of layer 1 scalability,” the official post detailed, Adding:
“Within the upcoming months ahead, we’ll be committing significant resources in R&D, engineering, business development, marketing, operations and third-party support to make sure Halo 2 will be productized safely and securely. Ultimately, it’ll be the Zcash community that decides whether Halo 2 becomes a part of Zcash or not.”
Zcash is renowned among several other prominent anonymity-based digital assets within the cryptocurrency ecosystem – an idea gaining relevance in an er of rising virtual surveillance.