Zerocoin - Definition from the Hotspot Shield Encyclopedia
Zerocoin is a form of cryptocurrency that has been proposed by various people to be used as an extension to Bitcoin.
Zerocoin aims to address the security concerns surrounding Bitcoin and would be implemented to provide a level of cryptography and anonymity. As bitcoin uses a blockchain process where everyone can see the transactions on a public ledger, transactions are easy to trace. Zerocoin operates as an extension to Bitcoin and uses secure cryptographic techniques to ensure that transactions cannot be traced. It allows direct payments between parties in a Bitcoin network and provides high levels of anonymity and security. Zerocoin is based on the Zerocash protocol developed by Matthew Green.