| Your lack of understanding of how Monero works is embarrassing. Please educate yourself before commenting! As to the trusted setup, there are a few salient points: - you don't have to "just trust one participant", what if 3 of them collude and 3 were compromised? - every participant booted off the same ISO which was provided by a single person. The claim is that the ISO can be built deterministically, but that still does not prevent it being compromised in subtle ways, and it seems that hardly anyone has bothered to try verify the ISO build process even subsequent to the ceremony. - even when there was clear evidence that someone's phone was compromised, the ceremony went ahead. This is a huge red flag - why not just stop the ceremony and rethink it, given the fact that there was obvious infiltration? - why only 6 participants? Why were they chosen by Zooko? Why was there no open application process where applicants could be considered by the community? Why were no members of academic institutions involved as participants? The way the trusted setup was conducted is shocking, this is privacy theatre at best. On your closing remark about it being innovative: nobody doubts that the ZeroCash white paper is innovative, but it is also too new for us to be trusting it. Would you advocate for TLS 1.3 to default to only use some encryption method that was in a very recent, largely unreviewed whitepaper, especially when that whitepaper contains math that is particularly hard to grok (Greg Maxwell calls it "moon math")? Why do we hold all of our cryptography to such high standards, distrusting everything that is new and unproven, but we're expected to give a financial system a pass? Would you feel the same if all of your net worth was held in that financial system? |