Anonymous Currency 2.0 SERO

Robin

This is the 44th article of ChainONE.

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Picture from: © Cocoricos / Official / cocoricos.io

Recently, Grin and Beam have caused widespread concern. Anonymous currency seems to bring about another spring. However, the SERO introduced in this article seems to be tepid, but it has great potential.

When mention anonymity, we have to talk about privacy. Privacy and anonymity are two concepts. Privacy means that the interests of an individual’s personality are not illegally abused or infringed, while anonymity is an act of not being named or using a pseudonym, as opposed to a behavior with a true identity. The purpose of anonymity is not to reveal your identity, or the identity/characteristic is unknown for a variety of reasons. Anonymity can be a means of protecting privacy, but for the Internet, not all.

The birth of the Internet has greatly accelerated the speed of information transmission. At the same time, users are generating more and more data, and Internet companies also have a large amount of user data. However, data leakage is a common occurrence. For individuals, I use Internet products, and the company does not protect my data very well. The data leakage caused by the company has caused great trouble to the individual and even directly caused the loss of property. In May 2018, the European Union released the General Data Protection Regulation (GDPR), which emphasized the power statement of personal data. Well-known foreign products support users to permanently delete accounts, and even download personally generated data. However, in a certain country, the nationals have no privacy, and even have no right to choose. In order to complete the evil KPI, they sacrifice the user experience and even violate relevant regulations.

There are many best practices for how to protect personal privacy in the Internet world. However, for the vast majority of people, there is no such knowledge reserve. More critically, many people do not have a sense of privacy protection. A big reason is that the cost of obtaining objective information is quite high. The topic here is slightly sensitive and will not be expanded here.

Privacy is one thing, and there are many scenarios that need to be anonymous. Anonymous scenarios, such as those mentioned in the SERO whitepaper:

  • A company wants to protect supply chain information without revealing it to the competitors.
  • An individual does not want the public knowledge of paying for consultation with a bankruptcy lawyer or divorce lawyer.
  • A family, fearing discrimination, wants to withhold children’s medical history from employers and colleagues.
  • A wealthy individual preventing potential criminals from gaining access to his whereabouts to prevent extortion.
  • Commodity buyers and sellers want to avoid the transaction being cut off by any middlemen.
  • Investment banks, hedge funds and other types of entities dealing with trading financial instruments (securities, bonds, derivatives); protecting their positions or trading intentions.

OK, introduced privacy and anonymity, and why we need to be anonymous, and then officially introduce SERO.

SERO (Super Zero) is the world’s first blockchain system that truly realizes the complete privacy protection of blockchains through non-interactive zero-knowledge proof. Compared to the existing blockchain privacy protection technologies, SERO not only can realize the privacy protection of account and transaction information but also support Turing complete smart contracts. In addition, developers can also create their own encrypted cryptocurrencies supporting smart contracts based on SERO-Chain.

Bitcoin is a decentralized book that is available to everyone and can be queried for every transaction. Although Bitcoin does not use KYC, it can use technical means to trace the source of the user. Anonymous payment solutions, currently more mature are Zcash, Monero and Dash, interested can go to in-depth study, not to repeat here. However, compared to the above three anonymous currencies, SERO has a smart contract, which is a programming capability. It can issue new anonymous assets (in addition to Token, it can also issue Tickets and Packages), and develop DApps in the SERO public chain. If Zcash, Monero, and Dash are 1.0 of the anonymous currency, then SERO is undoubtedly 2.0 of the anonymous currency world. It is easier to understand that SERO is an anonymous currency of Ethereum. According to the author’s understanding of the blockchain, the blockchain system of anonymous currency + smart contract has been realized, only SERO. If you want to learn more about SERO, it is recommended to read ​Technical White Paper​. BTW, the technical white paper is very exciting and worthy of careful consideration.

At present, SERO BetaNet has been officially launched, and ordinary computers can participate in mining. The SERO obtained by the miners will be mapped 1:1 to the SERO mainnet. At present, the SERO community is relatively humble, and the community support is relatively friendly. Compared with Grin and Beam, which are quite expensive but with high mining costs, SERO is like a potential stock. Start with the community and then slowly develop. Post a network panorama of a global mining node:

Finally, post the announcement issued by SERO, and hope that readers with vision can participate. In addition, the SERO website has tutorials and the domain is very easy to remember (​sero.cash​).

SERO national mining has been opened! SERO supports CPU mining by running SERO wallet or gero on your own computer, you can easily get SERO tokens and support Windows/Mac/Linux systems. According to SERO official information, SERO uses the original ethash modified version and decentralized anonymous license consensus mechanism. In the event of a major disaster in the small computing power, can guarantee the stability of the SERO public chain and protect the rights of the miners in the early stage!

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Robin

Written by

Robin

Cryptocurrency Specialist, Blockchain Evangelist, Founder of ChainONE, Blogger of dbarobin.com.

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