The firm behind privacy cryptocurrency Zcash( ZEC), Zcash Foundation donated $40K to a Canadian private messaging developer, The Open Privacy Research Society.
The organization announced on December 3 that it had received 1,044 ZEC (Worth $40,000) to further the development of a decentralized metadata resistant messenger, dubbed Cwtch.
Open Privacy Society described Cwtch as a platform for creating decentralized infrastructure for metadata -resistant communication applications. The organization noted that they derived the project name from a welsh word; that loosely translates to a “hug that creates a safe space.”
Nonetheless, Cwtch is also an extension of metadata-resistant protocol Ricochet that supports; “Asynchronous multi-peer group communication through discardable, untrusted and anonymous infrastructure.
Open Privacy Society Integrates Platform with Anonymous Payments on the Basis of Zcash’s tech
To sync with its anonymity focused vision, Open Privacy Society is also creating a platform for providing Cwtch users with anonymous payment functionalities. As a result, implementing a prototype system that will entirely rely on Zcash Foundation’s native crypto wallet, ZecWallet.
The announcement from Open Privacy noted that Zcash is among few digital currencies that-; provides a direct way to transmit huge amounts of data, in addition to payment of funds-; and would therefore not compromise the society’s focus on metadata-resistance. Nevertheless, the Zcash based prototype will not allow users to spend tokens since it’s only designated to demonstrate Zcash integration.
Zcash is a major privacy-focused cryptocurrency project
Zcash Foundation launched its privacy-focused cryptocurrency Zcash (ZEC) in 2016. The goal was to provide users with an additional solution for transacting privately, such as Monero (XMR).
Zcash implements a special iteration of zero-knowledge proofs known as Zero-Knowledge Succinct Non-Interactive Arguments of Knowledge (zk – SNARKs). These proofs allow native transactions to be fully encrypted while still under verification by the network’s consensus rules. Ethereum co-founder Vitalik Buterin described the zk-SNARK Proofs as the only record example of global anonymity that is secure and private.
A mid-November report established how an Industry fan declared that Bitcoin would lose its censorship resistance incase it did not introduce anonymity features.