The Existing Problems
Decentralized blockchain platforms such as Bitcoin, ethereum, and other decentralized platforms have quickly become popular as a valuable internet infrastructure with many outstanding features. But there is a problem of privacy for each individual or application in these blockchain platforms. People easily access the origin, or quantity and schedule of transactions. This creates a big obstacle to a lot for the widespread development of the blockchain.
Many trades or fields in which transactions need to be kept confidential and confidential, such as closed price bidding, financial transactions, or supply chain management … etc.
So we need a blockchain platform to ensure the privacy of the participants. We now have two platforms trying to do this, Monero and Zcash.
But these two platforms still do not bring absolute privacy and are also inflexible. Especially these 2 platforms do not allow building smart contracts. This greatly limits the construction of daaps and reduces scalability or access to users.
What is SERO?
The SERO system is the world’s first blockchain platform to support confidential transactions based on Zero-knowledge proof and supports Turing complete smart contracts.
SERO Super-ZK Protocol confidential transactions zero-learning proofs NIZK blockchain security smart contract. The SERO framework is the world’s first blockchain stage to help confidential trades dependent on Zero-knowlegde verification and supports Turing complete smart contracts
SERO has the following outstanding features:
- NIZK Algorithm Improvement
The engineering of enhancements are based on the contents of publication of Ben-Sassoon, Eli et al., issued in 2014 — ‘Succinct Non-Interactive Zero Knowledge for a von Neumann Architecture’. The algorithm further optimized the encryption process to be applicable
in the setting of blockchain data infrastructure for the distributed network. - Encryption Process Optimization
Targeting the encryption performance issues of Zcash — the transaction often takes 1 to 2 minutes to complete. SERO CHAIN redefines the entire encryption process to reduce transaction time. The resulting performance is over ten times faster than Zcash. - Clear and Easily Expandable Blockchain Structure
SERO CHAIN rebuilt the storage structure of Ethereum; SERO structure uses the method of the combination of historical and conditional states. The design aims to achieve the privacy and security features of the Token circulating on SERO CHAIN. The resulting design offers a greater expansion capability for the entire structure. The complete data block encryption process is clear and concise; Off-chain storage structure is also included. - Support of Turing Complete Privacy Smart Contracts
Through zero-knowledge proofs and homomorphic encryption protocols, the smart contracts on the blockchain supports different modes of Turing complete operation model. DApp developers can freely choose to issue assets with or without privacy protection attributes and the publication or the privacy of calculation details; assets include tokens and tickets that store complex data structures. The privacy-protected assets, using Turing complete online smart contracts allow DApp to issue privacy-protected tokens for different scenarios such as sealed bid auctions. - Smart Contract Involving Multiple Tokens
SERO CHAIN is able to use smart contracts for the issuance and trading of anonymous digital assets and supports the exchange of multiple, differentiated digital assets issued in SERO CHAIN from the same smart contract. SERO CHAIN’s smart contracts are able to perform decentralized trading of different digital assets. - Support of Selective Privacy Audit
For complex business applications, users may need a trusted third-party to conduct financial audits of transactions. Users of the SERO’s ecology are able to make their choices and decide whether to give third-parties the permission to track specific information from the relevant transaction data to facilitate audits.
SERO Team
Conclusion
The SERO project is a very promising project for success and scaling up. With its absolute anonymity and permission to build daaps, SERO will become the giant blockchain industry that has really exploded.
Visit the below website to know more information
Website: https://sero.cash/en/
Whitepaper: https://sero.cash/en/uploadfile/upload/2019052010565112.pdf
ANN Bitcointalk Thread: https://bitcointalk.org/index.php?topic=5123382
Facebook: https://www.facebook.com/SEROProtocol/
Twitter: https://twitter.com/SEROdotCASH/
Telegram: https://t.me/SeroOfficial
Reddit: https://reddit.com/r/SERO_Official
Linkedin: https://www.linkedin.com/company/sero-global-inc/
Medium: https://medium.com/@SERO.CASH
Discord: https://discord.gg/3AZVMRU
Bitcointalk username: tallylove
Bitcointalk URL: https://bitcointalk.org/index.php?action=profile;u=1252517
