New Zcash software offers more scalability for blockchains

The Electric Coin Company (ECC), responsible for privacy-oriented cryptocurrency ZCash, released the source code for Halo 2, a more scalable version of its protocol, last week. The update, which was released as open source, allows verifications of the validity of information, without the need to know said information.

ECC notes on his blog that Halo2, now open source, “may represent a scalability solution for Zcash and other blockchains.” The improvements present in Halo 2 were made with the coordination and support of the Ethereum Foundation (EF).

The company assures that it is committed to continue with the development of Halo 2, in order to eliminate the reliable configuration (or without third party intervention) by 2021. “In the end, it will be the Zcash community that decides if Halo 2 is integrated to that blockchain ».

Halo effectively compresses transaction history and runs distributed computing through recursive test composition, to make blockchain transactions lighter and process faster. This dramatically improves efficiency and eliminates the need for a reliable setup.

Electric Coin Company.

In a privacy-oriented blockchain, successive tests are carried out among the participants, to check the consistency and validity of some data, such as credentials or keys. Halo 2 allows this verification to be carried out, without revealing the respective information and without requiring a trusted third party in the process.

Support from the Ethereum Foundation

Last July, the EF allocated USD 120,000 to the ECC to support the development of Halo 2. “Although we are in an exploratory phase, both organizations believe there is value in standardizing Halo. One potential advantage is that it can facilitate blockchain interoperation, ”says the ECC on its blog.

Ethereum co-founder Vitalik Buterin, quoted in the ECC announcement, said that support in the development of Halo 2 represents a formalization of the collaboration between both organizations. “EF believes that zero-knowledge proof technologies will contribute to the shaping of a new world, and recognizes the potential of Halo 2 to contribute to this.”

The open source license under which Halo 2 was released is the so-called Transitive Grace Period Public License (TGPPL). This gives you equal rights to access the code and to improve it for commercial purposes to any person or group, “As long as they declare the improvements as open source, after 12 months”

Halo 2 is a “zero knowledge” protocol, which was described as a process that allows “verifying that a fact (or a transaction, in this case) is true without knowing [los detalles de] the fact”. The explanation was given to CriptoNoticias by Elena Giralt, head of marketing for the ECC.

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New Zcash software offers more scalability for blockchains

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