Adventure Crypto Discovery Community

Alternate cryptocurrencies => Announcements (Altcoins) => Topic started by: bomj on August 02, 2019, 10:51:30 PM

Title: [ERC-20] Proof of ownership of the transfer of coins
Post by: bomj on August 02, 2019, 10:51:30 PM
Recently, a lot of valuable ERC20 tokens have appeared.
(https://etherscan.io/tokens)
The loss of these coins causes financial damage to their owners.
Moreover, new rules by the Financial Action Task Force on Money Laundering (FATF) will force
cryptocurrency businesses in roughly 200 countries to verify the identities of anyone sending
or receiving more than $1,000 worth of digital assets, effectively nullifying their pseudonymity.
(Bloomberg (https://www.bloomberg.com/news/articles/2019-06-11/crypto-exchanges-are-facing-biggest-regulatory-hurdle-yet))
We send our cryptocurrencies to various exchanges and other services that require verification.
Sometimes for some reason, these services block your money.
And, unfortunately, your nameless wallet is not always proof that it you who made this transfer.
Since the address from which the transfer was made, can be transferred or sold to another person.
Accordingly, the possession of a particular cryptocurrency address is not an absolute proof that it
was you who sent your cryptocurrency at that time to a specific service.
Questions arise:
Is it necessary to sign their transactions over $ 1,000 and other smaller amounts?
Do I need to sign your transactions to prove the owner because of the possibility of losing
your money?
Let’s try to offer options for the implementation of this task in the project “ZENITH Protocol”.

(https://miro.medium.com/max/320/1*m_DPjaR_vVcMh7FKZGOgCQ.gif)

“Zenith Protocol” allows you to sign the transfer of any coin ERC-20.
The purpose of this protocol: Proof of ownership of the transfer of coins ERC20.
The ability to identify the owner who made the transfer of ERC-20 coins, which ensures the
security of the transfer.

(https://zenith.0xbt.net/pay2.png)

This protocol has the ability to identify the payments, which allows you to bind cryptocurrency
to any existing payment system.
You can sign a transfer of any ERC-20 token or enter additional information at your discretion.
(https://zenith.0xbt.net/SignCoin.html)
In addition, you can test one of the options in the “Rinkeby Test Network”:
(https://zenith.0xbt.net/SignCoinTest.html)

Video implementation example:
https://youtu.be/iF-VttRRLSs

Since the blockchain is public, encrypt your information in one of the ways available to you.
Thanks

Medium (https://medium.com/@zenithprotocol/erc-20-proof-of-ownership-of-the-transfer-of-coins-8b03dbf0288f)
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