Zcoin Launches Lelantus Testnet, Leveraging Burn-and-Redeem Model for Enhanced Privacy
Zcoin, the privacy-focused crypto project, has launched Lelantus testnet as it looks to increase the anonymity features within its ecosystem. The testnet launched on October 20 leverages a burn-and-redeem approach to provide higher privacy for its blockchain transactions, coupled with short confirmation times.
📣Lelantus testnet is now available to the public!
✅Privacy Front and Center
✅Ease of Use
— Zcoin (@zcoinofficial) October 20, 2020
This newly adopted model by Zcoin is an alternative to other decoys ‘anonymity functions’ that distort transaction trails. As for the Zcoin Lelantus testnet, users will be able to destroy an arbitrary amount of coins and later redeem new ones from the pool, eliminating the associated transactional history. Reuben Yap, the Zcoin project steward, told Coindesk in an email that,
“At any time in the future, you can submit a cryptographic proof that proves you destroyed/burnt coins without revealing which coin it was … This proof, once accepted, will allow you to redeem coins that do not have any previous transaction history or linkages.”
Lelantus testnet has done away with Zcoin’s initial model where users had to redeem the full amount of the coins burned; instead, they can now redeem partial amounts. Yap gave an example of a user who opts to burn $100; previously, they would have to redeem $100, but they can now take out a smaller amount with no trace it came from the $100.
This testnet also operates in a trustless manner based on the decisional Diffie–Hellman (DDH) assumptions. It means that the Zcoin privacy network will not require a trusted setup, as is the case in most cryptographic innovations. According to Yap, this quite a cutting-edge in preventing coin inflation,
“A compromised trusted setup in zero-knowledge proofs allows someone to forge the proofs, meaning that coins can be created out of thin air leading to hyperinflation … In privacy coins where amounts are obscured, such inflation can also remain undetected.”
With the Lelantus testnet scheduled to last for about one month, Yap hinted that 2.0 is already in progress. This version will offer more advanced features, such as allocating the rights to redeem burnt coins to another party.