0 a brand name for a type of cryptocurrency (= a digital currency that is produced by a public network rather than any government and uses special codes to keep it secure):
Bitcoin is a peer-to-peer electronic cash system.
Because bitcoin is completely decentralized, no one is completely invested in the long-term success of the system.
The panic pushed the price of Bitcoins locally to all-time highs.
To redeem the zerocoin into bitcoin (preferably to a new public address) the owner of the coin needs to prove two things by way of a zero-knowledge proof.
Gox bitcoin exchange briefly halted bitcoin deposits.
After verification, the transaction is posted to the blockchain, and the amount of bitcoin equal to the zerocoin denomination is transferred from the zerocoin escrow pool.
Additionally, both the accumulator checkpoint and all the zerocoin serial numbers would have to be added to every bitcoin block, thus increasing the size (although not substantially).
