SERO: THE BEST BET IN THE WORLD OF PRIVACY CRYPTOCURRENCIES

emmy92 (42)in #crypto • 5 years ago

Every now and then we keep hearing of blockchain technology and all the amazing things that have been made possible with it. Ever since Bitcoin cleared the path to decentralization, other blockchains have followed suit each adding their own innovation so as to continually driving the main aim behind Bitcoin which is "ensuring humans can be the master of their personal data", what's more than that?; While taking into account all the data breaches which have become prevalent in the world today.

Talking about the possibilities made possible by different blockchain systems; after the Introduction of decentralization another blockchain Introduced smart contracts as well as DApps and that is Ethereum blockchain. Furthermore, another blockchain Monero Introduced the advent of privacy coins; this succeeded in creating a trend which was followed by many cryptocurrencies with the aim of enhancing or Introducing more privacy features for blockchain users thus the advent of cryptocurrencies like Zcash, Dash etc. With all this, one can see that indeed the Introduction of blockchain technology in the world has made many feats possible and as such a platform known as SERO came to play.
But what actually led the team behind SERO to be highly motivated towards developing SERO Chain?

The Issues Amidst Advantages
Monero was termed the original privacy coin owing to the fact it was the first to be developed and has advantages such as having its own blockchain thus having more scalability and good resistance to DDoS attacks. In the same way, it has its own disadvantages which arise from the fact that it doesn't support smart contracts also despite being a decentralized blockchain there are still fears of attacks happening. Another issue is its use of Ring CT technology which has been proven to be inefficient.

In the case of Zcash, amidst its advantages such as not depending on an external system, there is a rising concern about the transactions privacy of users. In Zcash, it uses Bitcoin architecture to support transactions but a study has shown that owing to the fact it uses Zero knowledge encryption the resulting transaction isn't 100% privacy protected thus limiting the applications cases.
Furthermore in the case of another privacy coin known as Dash, irrespective of the fact it offers a simple way of Implementation as well as use it still does not support smart contracts amidst other issues.

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WHY SERO IS THE BEST BET

SERO is a privacy cryptocurrency which took a different path; that is, where other privacy cryptocurrencies failed to secure the privacy of smart contracts developers as well as DApps developers and users, SERO tends to correct or change that. Not only did SERO achieved complete privacy protection of blockchains via the use of non-interactive Zero-knowledge proof, but it also succeeded in achieving privacy protection of account and transaction information in addition to the support of Turing complete smart contracts. Thus in all, SERO platform, as well as its team, is the first to achieve all these.

In the same way, in other to ensure their objectives about privacy protection is achieved, the team developed SERO Chain to be capable of supporting of smart contracts which will make it possible for developers to create their own encrypted and secured cryptocurrencies, in the long run, enhancing different underlying protocols while making the privacy of Turing complete smart contracts a reality.

In the same way, by taking other privacy blockchains to mind and recalling the possibility of different attacks on users data; SERO tends to ensure its users never experience such nor be fearful within SERO Chain. Thus, to achieve this, SERO Chain utilizes NIZK encryption algorithm to protect users from any attack thereby expanding its privacy measures while offering a wide range of applications privacy protection.
As SERO team is working tirelessly, they aim to ensure that in the next platform upgrade that NIZK encryption algorithm is developed at its best which is to offer more advantages such as less memory resources and efficient computational power.

Attributes of SERO

Since there is a possibility of transactions on the blockchain network being traced, SERO's team aims to make SERO untraceable thus breaking any link that will exist between two transacting parties.
SERO uses encryption technology to ensure its blockchain is unassociable thereby making all payments address unrelated; that is to say, it comes impossible to track users identity.
SERO will have an anti-statistical analysis feature which will be used to hide users address as well as the relationship with other addresses.
SERO will also offer centralized applications the opportunity to access advanced privacy protection features when interacting with users.

CONCLUSION

SERO happens to be the first blockchain system to achieve many possibilities such as;
a. Privacy protection for DApp developers and users,
b. First anonymous cryptocurrency to support smart contracts,
c. The first team to offer a complete solution to privacy issues etc.

Thus when relating or comparing SERO with existing cryptocurrencies in addition to its achievements, have succeeded in widening its use case scenarios.