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Snowden Revealed As Key Participant In Mysterious Ceremony Creating $2B Cryptocurrency | Forbes

Duration: 04:25Views: 17.3KLikes: 426Date Created: Apr, 2022

Channel: Forbes

Category: People & Blogs

Tags: gametwo billionzcashownersforbes magazinesecretwhat is zcashforbes mediaprivacy cryptoparticipantwhat isedward snowdenscandalbillionownsinvestingsnowdenwealthtechbillionsbusinesswhats happening withrichentrepreneurshiptechnologycryptowho iswho is edward snowdenforbes digitalpersonal financemysterymoneyownershipceremonyforbesdigital assetsed snowdenrichestfinance

Description: In the fall of 2016, the cryptocurrency world was aflutter with excitement about the creation of a new kind of cryptocurrency, zcash. Unlike bitcoin, which is designed to be completely transparent – and trackable – zcash was coded to hide all information about a financial transaction, including not only the amounts involved, but also the public keys. That meant that prying eyes could no longer follow the cryptocurrency as it changed hands. Developers of zcash, at the Denver-based Zerocoin Electric Coin Company, used cutting-edge math that allowed an individual to prove a truth, such as that they owned an amount of cryptocurrency, without even revealing what that truth was. It’s called a zero-knowledge proof. Math would do the work, no humans needed. The Notorious whistle-blower acknowledges he was the sixth person who participated in an elaborate 2016 ceremony that led to the creation of zcash, a leading privacy protecting cryptocurrency now valued at $2 billion. Read the full story on Forbes: forbes.com/sites/michaeldelcastillo/2022/04/27/edward-snowden-revealed-as-key-participant-in-mysterious-ceremony-creating-2-billion-anonymous-cryptocurrency/?sh=21ea798a3b24 Subscribe to FORBES: youtube.com/user/Forbes?sub_confirmation=1 Stay Connected Forbes newsletters: newsletters.editorial.forbes.com Forbes on Facebook: fb.com/forbes Forbes Video on Twitter: twitter.com/forbes Forbes Video on Instagram: instagram.com/forbes More From Forbes: forbes.com Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.

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