SERO: FIRST CRYPTO TO FACILITATE USER DATA PROTECTION PROTOCOL VIA A NON-INTERACTIVE, ZERO PROOF SYSTEM AND SUPPORT TURING SMART CONTRACTS

OVERVIEW:

Privacy has been a major concern not only in the crypto world but in many tech companies that handle user data. Facebook, for example, a few months back lost close to 15 million dollars in values due to privacy leaks also large companies like Uber, Yahoo, PayPal, Equifax has also lost a lot due to anonymity issues. This has thus urged government bodies to intervene by establishing Data protection agencies example of such is the General Data Protection Regulations (GDPR).
Most of these leaks are caused by the inadequacy of data security protocols in centralized networks. Taking the design of Bitcoin for example, it is designed in such a way that there is a link between user wallets and their identity meaning once you open a wallet you would be made to include your details for verification and also since transactions are made public, user transaction and details can be seen by anyone which is very risky and unacceptable.

BLOCKCHAIN PRIVACY RISK
Bitcoin is the first currency to run on the blockchain's public ledger and several other altcoins have joined this network. It operates using these protocols:
UTXO MODEL
With this model, all input amounts can be traced using the parent transaction details. Data is stored in a public ledger which can be accessed by anyone in the world it even goes as far as global data being able to be downloaded.

INTRODUCING PRIVACY PROTECTION TECH

Privacy issues have begun to be addressed, the emergence of coins such as Zcash, Monero and Dash. Without going into details, the process used by these coins is to alter the transaction process without changing the results.

Zcash
With user data protection features better than Bitcoin, the zero-cash has been able to utilize encryption technology to protect user Info. Although payments are recorded on the public ledger, user can now hide the sender, amount and receiver info on the blockchain. But since the Zcash still runs on the Bitcoin network it can only support simple transactions and its anonymous encryption is not efficient.

Monero (XMR)
A scalable network running on the Proof-of-Work mechanism. It also runs an encryption technology called Ring confidential Transaction algorithm. In this method, two public keys are mixed and then the deal is signed, making it difficult for hackers to identifier the public key that signed. It doesn’t support smart contracts and has a high risk of being attacked and users depend on the public key of another user and if one party is malicious then there is a problem.

Dashcoin (DAS)
It operates using the mix currency method where users will have to transfer a sum of amount to several addresses at different time. And this has to be done in the agreement of both the sender and receiver. If the two parties can’t reach an agreement, the negotiation is either cancelled or postponed leading to time wastage and also, the mixing is done centrally hence privacy is dependent on the central man’s credibility.
To the above problems as discussed above, SERO is the solution.

PRIVACY SOLUTION BY SERO

Super Zero (SERO) the first crypto to completely obey the user data protection protocol by a non-interactive, zero proof system and support Turing smart contracts. The sero-chain would also enable developers to create their own private coin supporting smart contract.

CHARACTERISTICS OF SERO

1. Untraceable: Blockchain transactions are shaped in the form of anacyclic graph where all transactions can be concatenated and tracked. SERO was made to break this link making hacks impossible
2. Optional auditing solution: users have the option of choosing a third party to conduct transaction audits and also the ability to get specific user info from the transaction
3. Practicality principles: to save space and cost SERO won’t completely store users information but SERO will keep tracks of usage habits to carry out research.
4. Unassociability: SERO uses encryption technology to keep user data private.
5. Smart contract involving multiple tokens: it is possible with SERO chain to trade and exchange other digital assets.
6. Support of Turing completely smart contract: DAPP developers can choose to issue asset with or without user data protection. The assets include the token, and tickets that store complex data structures.
7. Easily expandable blockchain structure: Off-chain storage structure is possible. It uses the method of historical and conditional state for its storage structure. The day encryption is clear and accurate
8. Encryption process optimization: with transaction time reduced it takes between 1-2 min to complete cash movement.
   The issue of cryptocurrency animosity is no longer exclusive to experts in the field of cryptography. Developers in the business are required to give to users privacy coins and this can be achieved using the SERO chain.
   As a support to the confidentiality of the transaction, the network introduced the non-interactive zero-knowledge proofs library named Superzk. It allows verification of validity on transactions which are anonymous. One of the distinguishing features of the Superzk is that it has high security and maintenance performance for its anonymity algorithm. To improve the practicability of the system the SERO teams enhanced its libsnark library. Libsnark is used so as to accommodate the maturing algorithm.

TEAM:

The Sero team is one of the best collections of technically savvy intellectuals and hugely experienced individual that can hold their own anywhere in the digital and other areas of endeavour. This sero initiative is another pointer of a value proposition that is here to positively change our world.

CONCLUSION:
This is the future of protection of decentralized infrastructures in the blockchain space. Sero is bringing a sigh of relief to surfers in the digital ecosystem to guarantee a safer global privacy experience.

For more information about the Sero infrastructure, please click on the links below:
Official website: https://sero.cash
Tencent : https://v.qq.com/x/page/s0792e921ok.html
Twitter : https://twitter.com/SEROdotCASH
Medium : https://medium.com/@SERO.CASH
Github : https://github.com/sero-cash
Reddit : https://www.reddit.com/user/SEROofficial
BitcoinTalk : https://bitcointalk.org/index.php?action=profile;u=2449455;sa
Linkedin: https://www.linkedin.com/company/sero-global-inc/
Facebook : https://www.facebook.com/SEROProtocol
Discord: https://discordapp.com/invite/3AZVMRU
YouTube: https://www.youtube.com/c/SEROdotCASH

Author's Bitcointalk Username: Jannyh
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1883625