The ceremony of creation took place in the fall of 2016

​Snowden admitted to developing an anonymous Zcash coin

28.04.2022 - 08:15

103

2 min

What’s new? A former Central Intelligence Agency (CIA) and National Security Agency (NSA) official Edward Snowden has admitted that he was the sixth person involved in the creation of the anonymous cryptocurrency Zcash in 2016. This is reported by Forbes.

News on the Forbes website

What else is known about the event? In the Zcash creation ceremony, six people performed a number of tasks and took possession of parts of the private keys. Combining all the keys would allow the creation of an unlimited amount of cryptocurrency. The finale of the ceremony in the fall of 2016 was the destruction of these keys. If at least one of the six people destroyed their part of the key, the ceremony was considered a success.

Shortly after the genesis block was created, five of the six participants revealed their identities. Among them were CoinCenter researcher Peter Van Valkenburgh, and bitcoin core developer, Peter Todd. The sixth participant, under the pseudonym John Dobbertin, remained unknown until recently. He turned out to be Edward Snowden, a well-known whistleblower, and ex-CIA and NSA employee. The pseudonym was assigned to Snowden by Zerocoin Electric Coin Company (the official developer of Zcash) CEO Zooko Wilcox, after the famous German cryptographer Hans Dobbertin.

What is known about Zcash? Zcash is a cryptocurrency payment system whose development began in 2013. The most important competitive advantage of Zcash is its complete anonymity. Moreover, this feature is optional. Users can make both regular transparent payments and anonymous ones. If they choose the second method, the zero-knowledge proof protocol guarantees both parties to the transaction 100% confidentiality.

Author:

Michael Golikov Michael Golikov

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