Cryptocurrencies have been the subject of great mystery since the first creation of the original digital currency Bitcoin back in 2009. As the legend of Bitcoin goes, the creator Satoshi Nakamoto has still yet to have their identity revealed. The mystery of Bitcoin however stops there, as the simplicity and public openness of its blockchain technology is actually one of the selling and security points in Bitcoin’s favour.
There is a new cryptocurrency however even more steeped in mystery than its original. Zcash is not a new digital coin, but with renewed interest in online currencies after Bitcoing and fellow coin Ether reached all time highs this year, RadioLab podcast series revisited the birth of Zcash.
Morgan Peck is the RadioLab journalist who was present at the birth of Zcash, there to witness the myriad and labyrinth-like set up the small team had created to produce the coin. Layers of security were created by the team which involved simple hacks, like moving computers away from the wall to avoid microphones hearing from the other room, to complicated chain series where multiple computers were involved in producing a key only to then be destroyed by their user after completion.
The drama however occurred when the reporter’s phone began to produce a feedback loop roughly halfway through the ceremony that placed fears into the group they had been hacked. With the multiple security procedures in place however, they decided it was safe enough to continue the procedure and as a result the Zcash coin was born.
The secret ceremony was constructed with multiple cameras recording the events, with then additional cameras filming the first cameras so as to ensure they had not been tampered with. The extreme measures were put in place to inspire trust in the birth of the currency which positions itself as the full private for users – the opposite to Bitcoin.The birth of cryptocurrency Zcash