Privacy coin Zcoin's new protocol launches on mainnet

Zcoin, an anonymity-focused cryptocurrency, is hoping to ramp up adoption by launching the Sigma protocol on its mainnet today, the firm shared with The Block on Tuesday.

Zcoin was among the first cryptocurrencies to use zero-knowledge proofs but is now replacing its Zerocoin protocol with the Sigma protocol, aiming to fix underlying vulnerabilities. In particular, the protocol is geared at preventing an attacker from creating counterfeit privacy coins and inflating the supply, which fellow privacy coin Zcash faced earlier this year.

Specifically, the firm says the zero-knowledge proof Sigma protocol is the “the realisation of Zcoin’s vision to improve on privacy coin usability without compromising on security." The mainnet is expected to go live today through a hard fork. Users will have six months to redeem Zerocoin protocol mints for new Sigma mints.