Everything you need to know about Sero
Blockchains are a powerful technology, as regular readers of the blog already likely agree. They allow for a large number of interactions to be codified and carried out in a way that greatly increases reliability, removes business and political risks associated with the process being managed by a central entity, and reduces the need for trust. They create a platform on which applications from different companies and even of different types can run together, allowing for extremely efficient and seamless interaction, and leave an audit trail that anyone can check to make sure that everything is being processed correctly.
Although blockchain has received growing interests in both academia and industry in the recent years, the security and privacy of blockchains continue to be at the center of the debate when deploying blockchain in different applications . The security and privacy techniques for achieving these security properties in blockchain-based systems, including representative consensus algorithms, hash chained storage, mixing protocols, anonymous signatures, non-interactive zero-knowledge proof, and so forth. We conjecture that this survey can help readers to gain an in-depth understanding of the security and privacy of blockchain with respect to concept, attributes, techniques and systems.
Sero can provide a complete privacy protection solution for DAPPs; including advanced innovative technology components SERO (privacy cryptocurrencies platform supporting smart contracts), ALIEN protocol (a protocol that can solve security problems within the transmission of information in decentralized networks) and CASTROL protocol (a protocol that protects decentralized networks and provides privacy protection for every node in the Internet).
What is 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.
Super-ZK — Zero-knowledge Proof encryption library, independently developed by SERO is currently the fastest in encryption performance. In the same application scenario, Super-ZK encryption speed is 20 times faster than Zcash (the mainstream privacy protection cryptocurrency that at present, uses zk-SNARKs). Compare with Bulletproofs (the latest bulletproof protocol) Super-ZK is more than four times faster. SERO solved the Zero-knowledge Proof performance issues. SERO will lead the privacy protection space and aims to pave a path for the broader commercialization of blockchain.
How it Works ?
In the first phase, SERO will completely protect the inputs and outputs of the trading system and the trading details through non-interactive zero-knowledge proof (NIZK). The transaction details are invisible to everyone except the two parties involved. SERO will maintain the smart contracts running on the chain and integrate the assets generated by the smart contracts with SERO’s own trading system, considering that the online running smart contracts and the total number of open contracts issued assets have universal applicability. This will enable the privacy of the assets generated by the smart contract.
In the second phase, within the smart contracts running online, SERO will provide a latent structure called Hidden Data Structure(HDS) to satisfy the requirement for the total number of issued assets with protected contracts. The calculations for the HDS complete off the chain. The function will protect the total number of contractually issued assets. In the third phase, SERO will adopt a more advanced consensus mechanism to improve the throughput of SERO networks. At the same time, SERO will decompose the operation of the contract into two steps: offline calculation and online verification. The offline calculation will fully understand the calculation rules and data, and will return the encrypted result. When the result is submitted online, the online node will only validate the result and determine whether the data conforms to the calculation rules; the node will not know the details of the data and calculation rules.
What Main Feature of Sero Coin ?
- NIZK Algorithm Improvement
For the blockchain system adopting the non-interactive zero knowledge proofs or NIZK encryption algorithm is thoroughly optimized, which greatly reduces the memory resources required and improves the computational efficiency.
- Encryption Process Optimization
Sero can improve the encryption performance of Zcash — the transaction often takes 1 to 2 minutes to complete, SERO CHAIN redefines the entire encryption process. The resulting performance increase is over 20+ times faster than Zcash. The current shortcoming is that none of the blockchain systems support encryption and privacy protection of smart contracts. The existing use scenarios of privacy protection mechanisms are greatly reduced due to the technical limitation.
- Clear and Easy Expandable Structure
SERO rebuilt the storage structure of Ethereum. SERO structure uses UTXO+Account mixed Mode. The design aims to enable the privacy and security features for tokens issued on SERO CHAIN. The resulting design offers a greater expansion capability for the entire blockchain structure.
- Support Selective Privacy Audit
For complex business applications, users may need a trusted third-party to conduct financial audits of transactions. Users of the SERO’s ecology are able to pick and choose whether to give third-party permission to track specific information from the relevant transaction and facilitate audits.
- Smart Contract can Support Multiple Tokens
SERO CHAIN is the only blockchain in the world which supports the exchange of multiple digital assets issued in SERO CHAIN running in one smart contract. Our smart contracts are able to perform decentralized trading of different digital assets.
- Support of Turing Complete Smart Contracts
Through Zero-knowledge proofs and homomorphic encryption protocols, the smart contracts on SERO can support different modes of Turing complete operation model. DApp developers can issue privacy digital assets which can be either tokens or tickets that can store complex data structures.
Privacy is important to ensure our freedom as individuals. Respecting Privacy is critically important for businesses dealing with sensitive customer data. Sero comes with a lot of solution to the troubles of privateness and insecurity disrupting the international blockchain community.
For More Information About Sero Coin You can also visit the official website of Sero Coin for further details
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