zcash: zero proof knowledge crypto currency based on Bitcoin

[Cannon]

On 11/26/2016 07:37 PM, bbrewer wrote:
> 
>> On Nov 19, 2016, at 2:43 PM, juan <juan.g71 at gmail.com> wrote:
> 
>> 	The whole system depends on a single key?
> 
> https://petertodd.org/2016/cypherpunk-desert-bus-zcash-trusted-setup-ceremony
> 
> 


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On 11/26/2016 07:37 PM, bbrewer wrote:
> 
>> On Nov 19, 2016, at 2:43 PM, juan <juan.g71 at gmail.com> wrote:
> 
>> 	The whole system depends on a single key?
> 
> https://petertodd.org/2016/cypherpunk-desert-bus-zcash-trusted-setup-ceremony
> 
> 

This is a fun read. And such entertaining countermeasures, which were necessary. Great job Peter.

What I find interesting is this

"Single Point of Failure
As of writing, I’m not aware of any efforts to independently audit the deterministic build process used to create the compute node DVDs that every participant in the trusted setup used. This means there’s a massive single point of failure in the whole process that completely undermines the value of the multi-party computation.
Until the software and deterministic builds are audited, the entire ceremony is a bunch of crypto hocus pocus that means nothing."

"Backdoored Software
As mentioned above, the software used by every compute node was identical and thus a single point of failure that could be backdoored; I actually raised this as a issue publicly with Zooko a few weeks prior to the ceremony on Twitter."

I agree that if everyone used a pre-supplied image given to them for this crypto witchcraft ceremony then it truly is a concern if that software is unaudited from single centralized source.

What exactly was this software image and its source? 

It would be entertaining to have copy of one of those DVDs or image .iso so it can collectively be audited. Even then how would such DVD be audited fully if it is already pre-compiled?

While I like the idea of zcash, it is concerning having central point of failure like this if it is such. I support idea of privacy for crypto currencies. Right now I believe best way to do that is through privacy layers on top of bitcoin. Bitcoin excels in transparency without need to trust central point.
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-- 
Cannon
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