26 Feb '16, 9pm

Announcing the first successful Zero-Knowledge Contingent Payment (ZKCP) on the Bitcoin network

I am happy to announce the first successful Zero-Knowledge Contingent Payment (ZKCP) on the Bitcoin network. ZKCP is a transaction protocol that allows a buyer to purchase information from a seller using Bitcoin in a manner which is private, scalable, secure, and which doesn’t require trusting anyone: the expected information is transferred if and only if the payment is made. The buyer and seller do not need to trust each other or depend on arbitration by a third party. Imagine a movie-style “briefcase swap” (one party with a briefcase full of cash, another containing secret documents), but without the potential scenario of one of the cases being filled with shredded newspaper and the resulting exciting chase scene. An example application would be the owners of a particular make of e-book reader cooperating to purchase the DRM master keys from a failing manufacturer, so th...

Full article: https://bitcoincore.org/en/2016/02/26/zero-knowledge-cont...

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