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IOHK collaborates with ZenCash [ZEN] to move beyond Cardano [ADA]

Sthuthie Murthy



IOHK collaborates with ZenCash [ZEN] to move beyond Cardano [ADA]
Source: Pixabay

IOHK’s Research Fellow Prof. Roman Oliynykov spoke about the collaboration with ZenCash today along with the most recent projects including the treasury and a consensus scaling protocol. Roman is a Ukrainian cryptographer, IT security researcher, and a professor. Graduating with expertise in Computer Engineering and further research fetching him a Ph.D. and Dr. Habil.

With degrees in symmetric crypto, he monitors projects currently on flexibility and security improvements of blockchain-based technologies. He has had a history of professional experience in the R&D field.

Dr. Roman is the leader of the research team at IOHK who briefed up about the partnership with ZenCash. They started before the launch of the cryptocurrency, working on bug fixes, code development, testing and later on, took the core development and worked on it for a few months. This is when they established a good relationship with the ZenCash community.

Continuing their collaboration, they are now working on two projects. One is ‘Treasury’ which allows the community to decide which project should be funded and in what direction the cryptocurrency should be developed further. Next, they are working on the consensus scaling protocol which will also enhance the throughput of cryptocurrency.

Roman stated:

“ZenCash will be big enough and it will require much more transactions than it has right now. ZenCash will be ready for it. It is a very good collaboration between different communities.”

From IOHK’s side as a variety participant, they have six people in the project amongst who, two are professors with Ph.D. and one Ph.D. student doing researches and development for ZenCash. Gradually, they will collect some funds which are to be distributed according to the community’s opinion. Zen proposals are submitted after the fund collection, and the community will openly vote and decide which project is better.

They have implemented a special voting protocol which provides confidentiality to voters but is also completely verifiable. They also plan to implement parts of liquid democracy when someone for example, who is expert in software development but not in marketing may delegate his right to vote to the expert of the corresponding field.

He expressed, towards the end, his opinion:

“I am really excited about this, it is very challenging and it can influence the entire society. We will provide the budgeting system which will implement liquid democracy. It can be used much wider than in cryptocurrencies. It can be a model for the future society and I am really excited that I am participating in this.”

Blockchain Gael, a viewer commented:

“Hello nice to meet you. How about cracking the whip on the ETC crew? The Emerald Society needs it’s own LEDGER NANO S ticker GAWD DAMIT! Thank you IOHK for getting together selfless crews.”

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Sthuthie Murthy is a full-time reporter at AMBCrypto. She has been researching and writing about the Blockchain technology for a year now. Her passion for blockchain has led her to be a part of AMBCrypto's news reporting team. She does not hold value in any cryptocurrencies currently.