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CRYPTO 101

Ep. 230 - Zcoin Zerocoin Cryptography Flaw Update

CRYPTO 101

Bryce Paul & Brendan Viehman

News, Business, Investing, Business News, Tech News

4.3841 Ratings

🗓️ 6 May 2019

⏱️ 16 minutes

🧾️ Download transcript

Summary

** this is not financial or legal advice*** Zcoin had a cryptography flaw that allowed 69,000 Zcoins to be mined out of thin air. Hear what happen and the fix. Show Links: CRYPTO101podcast.com Patreon: www.patreon.com/user?u=8429526 Twitter: twitter.com/Crypto101Pod twitter.com/BrycePaul101 twitter.com/PizzaMind www.instagram.com/crypto_101 Facebook: https://www.facebook.com/groups/101Crypto/ https://www.facebook.com/CRYPTO101Podcast/ **THIS IS NOT FINANCIAL OR LEGAL ADVICE** © Copyright 2019 Boardwalk Flock, LLC All Rights Reserved Music: https://www.youtube.com/watch?v=SQWFdnbzlgI good morning by Amine Maxwell https://soundcloud.com/aminemaxwell Creative Commons — Attribution 3.0 Unported — CC BY 3.0 http://creativecommons.org/licenses/b... Music promoted by Audio Library https://youtu.be/SQWFdnbzlgI Our Sponsors: * Check out Mars Men: https://mengotomars.com * Check out NPR: https://npr.org * Check out Quince and use my code quince.com/crypto101 for a great deal: https://www.quince.com * Check out Scribe and use my code Scribe.how/CRYPTO101 for a great deal: https://scribe.com/Crypto101 * Check out Shopify and use my code shopify.com/crypto101 for a great deal: https://www.shopify.com Advertising Inquiries: https://redcircle.com/brands Privacy & Opt-Out: https://redcircle.com/privacy

Transcript

Click on a timestamp to play from that location

0:00.0

Yo, yo, welcome to Crypto 101, the average consumer's guide to cryptocurrency. This is Matthew Aaron.

0:04.3

And Z-coin was on the show only a couple of weeks ago. However, since the time they were on to now, they've discovered a cryptographic flaw in their zero coin protocol.

0:12.9

What does that mean? What does that mean for the coin? What does that mean for their security? Well, Ruben came back on to tell us about all of that, and we thought it was only responsible

0:21.1

to have them back on to clear the air about any kind of flaws or any kind of breaches and

0:26.7

security.

0:27.4

They also wanted to be very transparent about everything that was going on with their protocol.

0:31.5

So here's Ruben to explain everything and answer some questions.

0:35.2

Ruben Yap, CEO of Z-Coyn, welcome back to Crypto 101. Very soon, by the way.

0:40.3

Yeah. What hasn't been like two weeks or so? Really quick. Something like that, two, three

0:46.7

weeks. But the reason why we're here is because there has been a discovery of a cryptographic

0:52.0

flaw in the Zero Coin Protocol. And I wanted to have you on the show to talk about that really quick because a cryptographic flaw in the zero coin protocol. And I wanted to have you on the show

0:55.7

to talk about that really quick because a cryptographic flaw in the protocol is not a small

1:00.4

deal. One, I want to talk about really quick of what that means, why it happened and how,

1:05.8

and actually how you fixed it or if you did fix it. So if you would, please tell me what is a

1:09.7

cryptographic flaw in the zero coin protocol me what is a cryptographic flaw in the

1:10.8

Zero Coin protocol? So basically a cryptographic flaw, like cryptography, it's like, you know,

1:16.4

a bunch of math and stuff. Like that describes the whole workings, internal workings of the protocol.

1:22.8

And if the math fails or the cryptography fails or there was like a wrong assumption,

1:27.1

basically there was a

1:28.1

fundamental issue with the design. And that should be contrasted with a coding error, which means

1:34.5

that the protocol was fine, but you implemented it wrongly. So, like, with several zero coin

1:41.4

bugs in the past, those were mostly coding errors but in this particular

...

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