A customer purchased a “Live Free or Die” wood plaque and a “Legalize Gay Marijuana” bumper sticker at the Free State Bitcoin Shoppe in Portsmouth, New Hampshire using an encrypted digital currency called ZCash. The cryptocurrency is the most private money ever created, relying on a complex mathematical principle called a “Zero-Knowledge Proof”. Essentially this customer took some digital cash, locked it in a box with a secret key, and sent the shop the key. There is no discernible trail left. No observer can look up the transaction on the blockchain, not even those who know the sending/receiving addresses. Pretty slick! Here’s what it looked like:
This marks yet another turning point for human freedom. An evolution on the creation of bitcoin, this new cryptocurrency offers features and advantages that bitcoin simply doesn’t. While many are still holding fast to the promises of failing Federal Reserve Notes, others are seeking alternatives and building more reliable systems that make extortion far more difficult. Learn more by following the Free State Bitcoin Shoppe on Twitter and by joining our email list.