Zcash Team to Report on Crititcal Vulnerability Fix

Vulnerability was found back almost a year ago, it was kept in secret to minimize risks
06 February 2019   1111

Zcash Company, behind the development of Zcash cryptocurrency, revealed the details of the vulnerability that allowed attackers to create an unlimited number of non-existent ZEC coins.

According to a company blog report, March 1, 2018, Zcash cryptographer Ariel Gabizon discovered a vulnerability in the zk-SNARKS protocol, which Zcash uses to hide balances and user data.

Cryptocurrency developers decided not to disclose the details of the problem by including a patch in the update of the Zcash Sapling protocol, which was activated in late October. And only now the project team has publicly disclosed the circumstances of the incident.

The vulnerability was specific to counterfeiting and did not affect user privacy in any way. Prior to its remediation, an attacker could have created fake Zcash without being detected. The counterfeiting vulnerability has been fully remediated in Zcash and no action is required by Zcash users.
 

Zcash Team

Also, developers note that the detection of vulnerability required an advanced level of technical and cryptographic knowledge that few possess.

After the discovery of the vulnerability, Zcash Company took "exceptional measures" to minimize the possibility of its operation, and also notified other cryptocurrency teams using the zk-SNARKS protocol, including Horizen and Komodo, about its existence.

Messari to Issue "Crypto Theses for 2020"

According to the report of the analytical startup, Binance and Twitter CEOs Zhao and Dorsey are the top "people to watch" next year
18 December 2019   559

The analytical startup Messari presented a rating of persons and trends that will predetermine the further development of the cryptocurrency market.

Binance Exchange CEO Changpen Zhao is on the first place among people. Researchers responded to the active development of the site and the huge influence of Zhao himself on the opinion of the crypto community.

Second place went to Twitter co-founder Jack Dorsey, who opened a cryptocurrency branch in his payment company Square and promoting the ideas of bitcoin to the masses.

Researchers awarded third place to lawyer Brian Klein, who is currently running the case of Ethereum developer Virgil Griffith, accused of violating US sanctions laws. According to them, in the next decade, the cryptocurrency industry will face many lawsuits.

In fourth place was the director of strategic development of CoinShares investment company Meltem Demirors, who used the term “shtcoin” at the Libra vs. USA congress.

Fifth place went to US Congressman Brad Sherman, who, according to Messari, poses a threat to cryptocurrencies, calling them a tool of terrorists and tax evaders.

Morgan Beller, co-founder of the Libra project from Facebook, took the sixth line of the rating.

MakerDAO Foundation CEO Rune Christensen, who influenced the DeFi ecosystem and managed to solve several critical problems in his own project, is in seventh place.

On the eighth line is Zcash founder Zooko Wilcox, who continues to contribute to maintaining confidentiality in the cryptocurrency market.

The ninth place is held by the founder of TRON, Justin Sun, thanks to the successful acquisition of BitTorrent, Poloniex and Steemit, as well as a scandalous dinner with Warren Buffett.

On the tenth, host of the popular Bitcoin podcast, Peter McCormack. Researchers noted his significant contribution to the popularization of cryptocurrencies and the educational content of his programs.