The Internet has greatly enhanced the efficiency of information dissemination, which benefits Human society; on the other hand, lack of privacy becomes more of a serious problem. Blockchain is considered a great tool to protect privacy. However, since all the transactions are recorded on the public blockchain, once the identity of the wallet holder gets uncovered, this loss of privacy is irreversible. The scenario leads to a more serious problem than the privacy disclosure of the Internet.
For this reason, cryptographers and top technical experts in the blockchain industry have made relentless efforts to resolve the issue. Several teams in the industry have developed special cryptocurrencies to protect privacy, which are called “anonymous currencies”. Some of the best-known anonymous currencies are Zcash (ZEC), Monero (XMR), and Dash. These cryptocurrencies with a certain degree of privacy protection, have obtained high market values based on the vast demand and have been ranked among the world’s top 20 cryptocurrencies for a long time; thus, indicating a strong demand for privacy protection in the blockchain industry.
Smart contract is a computer protocol designed to distribute, verify or execute contracts in an information-based way. Turing complete smart contract system on the blockchain allows developers to write any complicated contract that lives on the blockchain and can be executed on the blockchain.
Developers can use smart contract development language to produce functions such as custom token, financial derivatives, identity system, and decentralized organization, therefore, greatly expanding the application scope of the blockchain system. Smart contract is one of the foundational bases of the Internet of Value. The current shortcoming is that none of the blockchain systems support encryption and privacy protection of smart contracts. The existing use scenarios of privacy protection mechanisms are greatly reduced due to the technical limitation. Blockchain 1.0 technology originated from Bitcoin invented by Satoshi Nakamoto, has created a new paradigm. With the advent of Ethereum – blockchain 2.0, the invention of smart contracts makes the blockchain technology accessible, and the Distributed Applications (DAPPs) based on the blockchain technology more feasible, allowing blockchain technology to be applicable to more industries. Zcash and Monero which do not support smart contracts are privacy protection scheme 1.0; privacy protection scheme 2.0 that supports smart contracts is expected to be implemented in more industries and application scenarios.
There is no doubt about the high technical threshold required for developing anonymous cryptocurrencies that support smart contracts, and there are only few teams in the world who are tackling this problem. The official release of Super Zero (SERO) to the world presents the first anonymous cryptocurrency that supports smart contracts. The SERO’s R&D team (SERO Team) is the only team in the world that presents a complete solution to solve the Privacy problem and has completed major R&D work. SERO team not only considers the privacy of DAPP Users’ accounts and transactions but also fully considers privacy protection of DAPPs’ developers, making privacy protection of the DAPP Ecosystem truly secure and stable.
SERO team has assembled a 3 in 1 suite that can provide a complete privacy protection solution for DAPPs; including advanced innovative technology components SERO (privacy cryptocurrencies platform supporting smart contracts), ALIEN protocol (a protocol that can solve security problems within the transmission of information in decentralized networks) and CASTROL protocol (a protocol that protects decentralized networks and provides privacy protection for every node in the Internet).
The white paper describes SERO’s work and includes core information about the project as well as the disclosure of subsequent project plans.2019052010565112