ZCoin Releases Security Update

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Prerna Sengupta
Prerna Sengupta is a writer for Thecoinrepublic. She is a law student at NALSAR University of Law, Hyderabad. She is interested in Tech Law and is especially keen on cryptocurrency, blockchain, and Bitcoin. She hopes to pursue this field in the future as a lawyer.

ZCoin Releases Security Update

  • A security issue which recently surfaced in Sigma is being fixed and will be re-enabled on December 5.
  • Full functionality of RAP (Receiver Address Privacy), also known as, BIP47 Payment Codes has been completed.
  • With reference to Lelantus, a draft paper on hierarchical 1-out-of-many Proofs has been completed and submitted for peer review.

ZCoin has come up with a security update as of December 2, 2019. ZCoin is a cryptocurrency which uses cryptography to provide better privacy to its users. These private financial transactions are enabled by the Sigma protocol.

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Sigma is expected to be re-enabled past block 220720, i.e., around December 5th. This is because a security issue had surfaced in Sigma owing to a responsible disclosure via their bug bounty system. The new release 13.8.8 is said to be incoming on December 2. Final testing of sigma includes sigma verification and proving improvements which have multi-threading support. Along with that massive improvements have been made in syncing speed.

Full functionality of RAP (Receiver Address Privacy), also known as, BIP47 Payment Codes has been completed. Sigma support is also in the works.

Coming to the mobile app with Sigma, the mint work is completed whereas work has started on Sigma spend functionality and HD mint.

With reference to Lelantus, which is ZCoin’s next generation privacy protocol, a draft paper on hierarchical 1-out-of-many Proofs has been completed and submitted for peer review. The aim is to reduce proofs generation times and allow for more efficient batch verification at the cost of slightly larger proofs.

Triptych is also being reviewed with the assistance of Monero Research Labs to find out if there are any techniques which can be used to improve Lelantus.

Easy creation and management of Exodus tokens with Sigma support can be achieved with another month of work on ZTM. Exodus Sigma will also be patched with the security fix. Methods of two-way pegs are also being probed.

New wallets created will have full mnemonic seed backup support (including for Sigma mints). Currently Import from old wallets to new mnemonic backed up wallet is disabled. This has been done to prevent h private keys not being backed up by the mnemonic. Mnemonic support will be merged together with Sigma multi-threading optimizations.

Lastly, Core upgrade to 0.14 is complete and RPC tests are functioning. Remaining unit tests are also being fixed. Work has resumed on deterministic masternode work.

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