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Zcash (ZEC) and Edward Snowden: Whistleblower involved in launching privacy coin

 


Edward Snowden, a well-known cybersecurity advocate and notorious whistleblower, has revealed that he played a crucial role in the development of the privacy token Zcash ( ZEC ).


In a video from Zcash Media , Snowden said in an interview that he was one of six people who had a piece of the private key for Zcash's multi-signature and was therefore involved in the project launch on October 23, 2016. In the video, Snowden explained:


"My name is Edward Snowden. I attended the Zcash ceremony under the alias John Dobbertin."

Edward Snowden is the whistleblower who exposed US government surveillance methods and went into hiding in 2013.


Zcash is a decentralized blockchain that uses so-called zero-knowledge proofs for transactions. Unlike the relatively transparent Bitcoin ( BTC ), ZEC transactions cannot be tracked and the amounts transferred cannot be determined.



At the Zcash ceremony , Snowden and five other people each combined their share of the Zcash private key to launch the project. None of the participants knew who the others were or what part of the key they held. This allowed everyone to maintain their anonymity, which is one of the cornerstones of the project.


Everyone had to destroy their part of the key to prevent future transaction coins from being counterfeited.


In the interview with Zcash Media, Snowden was enthusiastic about the project and underlined his great interest in data protection. He said: "The problem with bitcoin is that unless you can trade privately, you can't really trade freely."


"I am really pleased to see that the Zcash project is bringing us ever closer to the ideal of a free currency that is also a private currency.

Bitcoin developer Peter Todd was also one of the participants in the ceremony and recalled how "legendously far Zcash ceremony participants went " to avoid being hacked.



Todd said he bought a new computer and installed all the necessary programs for the ceremony, then placed the computer in a Faraday cage to keep intruders out. A Faraday cage is a box lined with aluminum foil that reflects WiFi signals.


He then drove to a remote area, where he used a cutting torch to destroy his device and with it his part of the private Zcash key.


News of Snowden's involvement in the ceremony didn't have much impact on the course. ZEC is up 1.7 percent over the past 24 hours to trade at $148, according to Cointelegraph data.

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