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originally posted by: wasaka
The NWO's dream of a cashless society, is dead.
It is dead because of Bitcoin, and Moneta (ZeroCoin).
The new protocol was called Zerocash. It is now not an extension to the Bitcoin, but rather an independent technology with the same basic principles as blockchain and transactions, which was planned to implement in alt-coin.
Zerocash utilizes a special kind of zero-knowledge proof: Succinct Non-interactive ARguments of Knowledge (zk-SNARK) systems, which is in fact a cryptographic method for proving the integrity of computations. Such proofs are less than 300 bytes long and can be verified in only a few milliseconds.