Press Release

ZenCash Successfully Upgrades to Highly-Secure, Transaction Replay-Resistant System

 Partners with leading blockchain development company IOHK to accelerate roadmap

 

New York, New York, June 13, 2017 - ZenCash, the privacy coin for borderless decentralized communications and transactions, has today announced it has successfully upgraded to a highly secure, transaction replay-resistant system via a soft fork completed at 2pm EDT. Zen partnered with leading blockchain research and development company IOHK to support the transition and accelerate the project’s technical timeline.

 

ZenCash Co-Founder Rob Viglione said: “Zen would like to humbly thank its network of supporters for their combined efforts in upgrading the entire system. The incredible success in moving to a system that no longer accepts blocks potentially containing transaction replays has made the Zen ecosystem substantially more secure.

 

“Zen would also like to extend its gratitude to IOHK, a company synonymous with world-class blockchain development, for its technical leadership in upgrading the system’s security throughout the transition. IOHK’s dedication and cryptography expertise has improved Zen’s ability to prevent successful malicious attacks and places ZenCash on a fast-tracked path to being the leading privacy coin,” Viglione added.

 

The software transition required all participants in the ZenCash network to upgrade their node software before the soft fork rules were enforced. The transition process, which included a scrupulous audit of the Zen chain, was supported by a team of independent experts led by IOHK developers. IOHK dedicated cryptographer, IT security researcher, and developer of Ukrainian cryptographic standards the Kalyna block cipher and the Kupyna function Prof. Roman Oliynykov, and cryptographer and a software developer Dmytro Kaidalov Ph.D. to support the ZenCash project.

 

IOHK CEO Charles Hoskinson said: I believe that privacy is a foundational human right and enjoy the tremendous innovation the cryptocurrency space has brought to the discussion. ZenCash’s team has the right background, knowledge and character to understand both the technology and philosophy behind the delicate intersection between privacy and security. Thus, I’ll be working closely with them to try to amplify their efforts and advise where and when consulted.”

 

Highlights of Zen’s accelerated technical timeline include implementing Segregated Witness, the development of improved wallets for the web, Windows, Linux, OS X, iOS, and Android, building hardware for t and z transactions, messaging, GNUnet publishing, and the creation of a domain fronting service for z transactions using a commercial content distribution network (CDN). In addition, Zen will establish systems servers in multi-data center configuration and undergo rigorous infrastructure resilience testing and refinement to ensure security, redundancy, and lower latency.

 

Rob Viglione said: “Zen’s talented core team and large supportive community are effectively working hand-in-hand to progress the platform. ZenCash has the support of a fantastic exchange partner in Bittrex, which has announced plans to review the Zclassic and ZenCash wallets after our community rapidly upgraded nodes to prevent the risk of transaction replays.”

 

The Zen platform’s innovative design offers users the option to conduct shielded transactions that obscure information about sender and receiver, as well as the amount of the transaction. Users also have the option to perform transparent transactions. All network communications are encrypted between nodes, providing certificate-based encryption connections for ZenCash wallet applications.

 

For more information, the Zen whitepaper is available on https://zensystem.io.

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About ZenCash:

ZenCash is the first and most important initial product in the Zen portfolio. Zen, an evolution of the Zclassic codebase, launched its Blockchain on May 23, 2017. Zen provide privacy and networking infrastructure for secure and anonymous collaboration.

 

About IOHK:

Founded in 2015 by Charles Hoskinson and Jeremy Wood, IOHK is a technology company committed to using peer-to-peer innovations to provide financial services to the three billion people who don’t have them.

IOHK is an engineering company that builds cryptocurrencies and blockchains for academic institutions, government entities and corporations. It is also a research firm with dense academic connections in Europe, America and Asia with many employees holding PhDs in Computer Science, Math or Physics. IOHK focuses on practical, peer-reviewed research to create live protocols, and the technological underpinnings to next-generation cryptocurrencies.

To learn more, visit iohk.io

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