Sigma Protocol Officially Launches on Zcoin’s Mainnet
- The Sigma protocol will replace the Zerocoin protocol.
- The main purpose of the new protocol is to prevent scammers from creating fake privacy coins.
The Zcash cryptocurrency is known for its anonymity but reports from The Block show that the token is working to expand its platform with a new protocol.
The protocol, which is called Sigma, officially launched on the mainnet today, replacing the former Zerocoin protocol. The anonymity-focused asset was one of the first cryptocurrencies to end up using zero-knowledge proofs.
The implementation of the Sigma protocol is supposed to help with the correction of vulnerabilities that previously existed with Zerocoin. More specifically, it should prevent attackers from inflating the supply through the creation of fake privacy coins, which Zcash has already dealt with this year.
The new Sigma protocol, which continues to use the zero-knowledge proofs, is meant to be the “realization of Zcoin’s vision to improve on privacy coin usability without compromising security.”
According to the official Zcoin website, Sigma is already live, though there will be a maintenance release soon that will resolve some of the bugs discovered on the protocol. To see the progress of the release, consumers can visit the Zcoin GitHub page.
Users that already have Zerocoin protocol mints have the next six months to redeem them for Sigma mints instead. The official announcement on this launch can be viewed at https://zcoin.io/sigma-is-live-on-zcoin/.