In last few weeks we had received many queries regarding how SERO plans to fight the zero knowledge proofs infinite counterfeiting vulnerability and is it even affected at all. Although the SERO team did communicate with community members individually but with the recent happenings the team decided to publish an official article about the same.
What is Zero Knowledge Proofs Infinite Counterfeit Vulnerability?
In March 2018, Zcash team members found out a deadly vulnerability in the underlying cryptography zero knowledge proofs which could allow attackers to secretly print infinite amount of Zcash currency without the knowledge of core team.
“The vulnerability had existed for years but was undiscovered by numerous expert cryptographers, scientists, third-party auditors and third-party engineering teams who initiated the new projects based upon the Zcash code,” they stated. “Discovery of the vulnerability would have required a high level of technical and cryptographic sophistication that very few people possess”