Zooko Wilcox-O'Hearn, a Colorado-based computer security specialist, has presented test version of his Zcoin cryptocurrency system which is, unlike bitcoin, “perfectly untraceable”.

The start-up was supported by Barry Silbert, Twitter and Uber investor Naval Ravikant, and Roger Ver, who provided Zcoin with more than $750,000 of funding last November.

The digital currency is equipped with so-called “zero-knowledge” feature which allows its users to choose whether to keep the information about their transactions public or make it entirely secret without using any additional anonymising facilities.

“This is the first time you can transact with anyone on the Internet, and control over who gets to find out about those transactions is solely in your hands,” Wilcox says.

The actual currency is yet to be launched since the recently published source code is only a “preview” aimed at testing the software. After all bugs are fixed, a user-friendly interface will be released, providing anyone with the opportunity to pay for goods over the Internet privately using Zcoin. The whole work is expected to take half a year.

As CoinFox reported on many occasions, anonymity is one of the most heatedly discussed features of cryptocurrencies, with some seeking to sweep it aside completely, and others, like Zooko Wilcox, working hard to maintain and improve it.


Maria Rudina