SERO: New Generation Of Anonymous Cryptocurrency

xpency (63)in #sero • 5 years ago

Everyone deserves a right to his or her privacy, this is something that is very important to every human being and this right cannot be over emphasized. We all need privacy, because not every information about us is worth disclosing to the public. There are some information about our lives and businesses that deserves to be discreet and anonymous to the outside world, so therefore privacy and confidentiality is what every human needs.

One of the part of our lives that is in highly needs of privacy and confidentiality is the area of financial transactions. It is very rare to see anyone sharing the details of his financial transactions to the outside world, if we manage to see such an individual then it could be that something is wrong with his mental stability and he is in dire need of mental medical check up. Information that pertains to finances of an individual, government institutions and corporate entities are mostly kept confidential or the relevant organ of the organization or institution. The financial space will continue to be a sector of our lives that always interest the bad actors and prone to attack and intrusion at any time there's an opening for such, the activities of bad actors which includes hackers, scammers and others are part of the reason why any sensible human being or organization will always like to keep their financial information confidential.

The innovative blockchain technology which is the core technology behind the concept of decentralized currency remains the best solution to the cases of fraudulent and any other acts of dishonesty and the reason for this is because of its immutability, transparency and its peer-to-peer way of handling activities on it which includes financial transactions and many others on its network. Anyone making use of any blockchain platform will be to have access to all activities going on it which includes financial activities, though this go against the ideal of privacy and confidentiality, because bad actors could take advantage of it and use the financial details of members of the network and other information recorded on it to defraud careless participants of their assets in a cunny way, hence there's a need of a blockchain protocol that will be able to make activities on it anonymous and confidential which will go a long way in corporate organizations adoption of the technology.

SERO is a blockchain platform that plans to find solutions to the challenges pertaining to privacy of user's identity, privacy of user's account, financial information and other confidential information on the blockchain network. With Sero blockchain platform, it will be a thing of the past for any bad actor to decode information on it by analyzing the publicly available records of information on the blockchain network.

Sero blockchain protocol makes it a reality the possibility of information sender and receiver details to remain anonymous and also hiding of all details pertaining to the transaction between the sender and receiver of it. Those that will have access to it will be only those that are directly involved in it we have the details of either the transaction or any other important details that pertain to it. Those that are not directly involved in it but also using Sero blockchain network will not be able to know any details pertaining to it, in other words, details of the transaction or any other details will remain anonymous to those not directly involved in it.

By making use of an innovative NIZK encryption algorithm, the blockchain protocol of Sero makes the possibility of bad actors attacks on data of the platform users almost impossible. For them to improve the computational strength of the Sero blockchain, the NIZK data encryption algorithm make use of less memory resources. Ethereum blockchain protocol has made us to see the importance of smart contracts if truly we want blockchain to be adopted by businesses and other organizations that need third-party trust verifier. Sero will be the first anonymous blockchain platform that supports smart contracts and this set Sero apart among other platforms out there. With this, many organizations that need confidentiality will be able make use of anonymous blockchain protocol that supports smart contract thereby increasing the adoption of blockchain technology among organizations.

Sero coin is the blockchain asset (token) used on the Sero blockchain and used in settlement of fees, the Sero coin/token is equally deployed as a form of reward to people who provide more computational power and providers of algorithm.