Privacy on the Internet? It’s not an oxymoron.
“Mint” transaction turns a public coin with transaction history into a completely private coin that is stored in an accumulator.
“Spend” transaction allows you to create a new coin that has no transaction history by proving that you own one of the coins in the accumulator.
The process of minting and spending can be repeated as many times as you want in order to ensure complete privacy.
After accepting ‘Zerocoin Mint‘ transaction by the Kurrent peers, one can redeem his zerocoin back into Kurrent. During ‘Zerocoin Spend’ transaction the new Kurrent address is created. If the transaction is accepted, the Kurrent peers will treat it just like a regular Kurrent transfer.
Linking a Zerocoin Mint transaction to the Zerocoin Spend transaction is impossible. After redeeming a zerocoin you get totally fresh Kurrent. Not the one which you used to purchase zerocoin.
Zerocoin Protocol, a way to perform genuinely anonymous cryptocurrency transactions. It was intended as an extension to bitcoin, but is also fully workable as a separate and independent “zerocoin” cryptocurrency.
Zerocoin Protocol will let users spend internet cash with theoretically perfect anonymity.
Zerocoin Protocol make the task of identifying users or tracing their transactions nearly impossible.