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Some of the challenges faced by privacy blockchains include scalability and usability. However, a currency for privacy believes it has the answer to solve them with its new protocol.
Zcoin, who in November had added a Thai song to his blockchain to combat government censorship and corruption, published an academic document for his Lelantus protocol. It should be distributed in 2019. Created by Zcoin, which focuses on providing privacy and anonymity to its users, the purpose of the protocol is to solve the problems faced by the privacy blockchain.
In an ad, Reuben Yap, COO of Zcoin, said: "Current privacy protocols need to be improved, most requiring compromise in terms of scalability, anonymity, ease of use or under experimental cryptography, we have created Lelantus to address these problems and offer users a complete solution. "
The current Zcoin privacy protocol, Zerocoin, offers users privacy on their transactions through cryptographic tests with zero knowledge. However, the Zerocoin protocol and others require users to anonymize coins in fixed denominations to protect privacy.
Second Yap, while Lelantus offers users the same level of protection, it is more flexible and easy to use. Not only that, but it is said to be scalable, with its zero knowledge tests that occupy 1.5kb on the blockchain. This is compared to the current 25kb on Zerocoin. Beyond that, the team notes that Lelantus does not require a reliable setup, which requires the destruction of specific initial parameters to prevent users from creating coins from scratch.
"Performance is crucial in any transaction privacy protocol and must be practical to implement," said Aram Jivanyan, the author of the Lelantus protocol, which serves as a cryptographic consultant for Zcoin. "Many privacy protocols use zkSNARKs to improve the calculations, but Lelantus is able to achieve this without a reliable setting by following well-established cryptographic assumptions, it is fast and efficient in storage, without compromising privacy and confidentiality. "
Other advantages offered by Lelantus compared to Zerocoin, as indicated in the academic document, include the need to remove fixed demonaries, a single transaction can contain a number of expenses and generate more coins and the transaction amounts are hidden.
