What is ZETH?
ZETH is smart platform based on ethereum, with a helix twist, this chain will run along side a ZCASH codebase in order to get the best of both platforms in a dual-environment, a smart platform meets Zcash’s zero-knowledge proof construction – zk-SNARK.
Before knowing more about ZETH, I will explain briefly about ZCASH and ETHEREUM :
Zcash encrypts the contents of shielded transactions. Since the payment information is encrypted, the protocol uses a novel cryptographic method to verify their validity.
Zcash uses a zero-knowledge proof construction called a zk-SNARK, developed by a team of experienced cryptographers based on recent breakthroughs in cryptography. These constructions allow the network to maintain a secure ledger of balances without disclosing the parties or amounts involved. Instead of publicly demonstrating spend-authority and transaction values, the transaction metadata is encrypted and zk-SNARKs are used to prove that nobody is cheating or stealing.
Zcash also enables users to send public payments which work similarly to Bitcoin. With the support for both shielded and transparent addresses, users can choose to send Zcash privately or publicly. Zcash payments sent from a shielded address to a transparent address reveal the received balance, while payments from a transparent address to a shielded address protect the receiving value.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.
These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property. This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middle man or counterparty risk.
What is the purpose of ZETH?
ZETH as smart bridging contract ZCash and Ethereum in a worlds first decentralized cross-platform exchange between the two blockchain. ZETH brings simplicity without all the technical jargon, a superior platform with the world’s best with privacy technology, it will be complete with its own GUI and using ZTH as the project ticker, gaining private transactions through zero-knowledge proofs.
In this case, ZETH was still in the process of development. ZETH development carried out by only one developer and using the funds of individuals at first. as submitted by the developer on the official page ZETH in bitcointalk:
Some key facts about ZETH
I am the sole developer
It is not a complete project
Its development is currently self funded
I don’t offer a ‘hype’ approach to my programming or developments, i believe the end resulting code and functionality should depict adaptability and price.
But over ZETH development process, developers have distributed some ZETH to obtain funds to support the development process ZETH. To date, the funds of adopters already collected amounted to $ 73,539.90 US DOLLARS (BITCOIN and ETHEREUM), an educated estimate of the public beta release would be around April 20th.