Electric Coin Company has released the code for Halo 2, an updated zero knowledge proof of Zcash that removes the need for a trusted install.
According to a blog post, the private cryptocurrency developer Zcash Electric Coin Company (ECC) has released the source code for Halo 2, an updated and more efficient version of ECC's recursive evidential composition that removes the need for a trusted setup for Zcash. Halo 2 also has a promising scaling solution for Zcash and other blockchains.
ECC plans to complete development of Halo 2 with the intention of eliminating the need for a trusted installation in 2021. It will also pave the way for future recursive evidence support to support tier 1 scaling decisions. In the coming months, the organization plans to devote significant resources to research and development, business development, marketing and third-party support to ensure the safe and reliable development of Halo 2. Ultimately, the Zcash community will decide whether Halo 2 will be implemented in Zcash.
Halo efficiently compresses transaction history and distributes computation using recursive evidential composition. This makes transactions on the blockchain easier and faster, significantly increasing efficiency and eliminating the need for a trusted setup.
While the first Halo used "Sonic" to verify transactions, Halo 2 uses "PLONK", a new zk-SNARK created by Zac Williamson and Ariel Gabizon of the Aztec Protocol. The new ideas behind Halo are used in recursive SNARK projects such as Coda (Pickles) and Mir (Plonky).
In July of this year, the Ethereum Foundation provided ECC with a $ 120,000 grant to continue developing Halo. Both organizations are still in the research phase but believe Halo standardization is essential for the industry as a whole. One of the potential benefits of the solution is that it can facilitate interconnection.
"The Ethereum Foundation is delighted to officially support the talented people at ECC while taking our informal collaboration to the next level," said Ethereum co-founder Vitalik Buterin. "The Foundation believes that zero knowledge proof technologies will change the path to building a better world, and recognizes that Halo 2 can do its part."
ECC is in talks with the Ethereum Foundation and other organizations for further collaboration on Halo development. Using the same zero knowledge proof (Halo 2) technology on multiple blockchains can provide unreliable and flexible interconnection. In conclusion, the ECC notes:
“The process of introducing new advanced technologies is a long one. It includes scientific peer review, development, third-party security audits, and security testing. ECC has a track record of safely deploying innovative technologies and we know this work requires collaboration. From open source Halo to working with the Ethereum Foundation and exploring future implementations, collaboration is at the core of what we do. If you are considering Halo for your project or would like to know more, do not hesitate to contact us. "
Recall that at the end of July, Electric Coin Company launched an educational program for cryptocurrencies called "Crypto in Context".