Fiat Daily posted on October 02, 2019 19:15:47
No doubt this is one of the most respected privacy coins, with the best experimentation/development going on around privacy and cryptography, which is badly needed in order to ever make cryptocurrencies, especially bitcoin, fungible. I can't criticize the technical side of things because that is way over the heads of us normal human beings haha. I am however very critical of their taxation on inflation scheme, which seems like an unreasonably high cost. Opinions are differentiated around the validity of that "taxation". The centralized/corporate aspect is also a concern in terms of this cryptocurrency ever getting real adoption and too popular, there would immediately a quite risky single point of failure. Also the fact that privacy is optional and hardly used because of the high cost associated with privacy transactions, introduces risk vectors for users that do require privacy; only a few users utilizing privacy features are immediately a target of suspicion. A successful privacy coin should have privacy by default. I am therefore of the opinion that Zcash is somewhat inferior to Monero, but I do hope that successful implementations of Zcash privacy improvements, could lead to better privacy improvements for bitcoin and maybe even ethereum.
Zcash acquired especially a lot of fame because of the endorsement by Edward Snowden, but I recommend everyone interested in Zcash to not take that as validation alone and very carefully investigate and take a deep dive into all aspects of this coin to make a very informed decision if it is something you actually believe in or see value in as a user.
mistergrin posted on October 02, 2019 15:38:51
Zcash and Monero are the 2 best privacy/anonymity coins in my opinion and every other project in this niche pales in comparison. I know a lot of people criticize Zcash because of their more corporate and public approach to development, governance, etc., but I don't think that's a huge deal imho.
Zcash is able to attract the worlds' TOP cryptographers to work on their protocol and broader cryptographic ecosystem. I once dove down the rabbit hole on Twitter and discovered that these cryptographers have their own little world on Twitter full of deeply technical discussions of protocols, techniques, and more. Sure they aren't anonymous like a lot of the developers behind Monero but that doesn't mean their research and engineering aren't just as good (if not better).
This project pioneered zk-snarks (a zero knowledge approach to cryptography). This and other related approaches let you verify that blockchain transactions are valid without giving out information like how much was in the transaction. Ethereum is even looking to adopt this tech in its protocol to increase its privacy features (I believe on an optional basis).
The only criticism I semi-agree with is about the large (10%) Founder's Reward. This is quite a bit and I understand why it's needed - just preferably it was less or wasn't there at all and could take a purely donation approach like GRIN.
Anyways, TLDR: This project is 1 of the 2 best privacy projects out there. Period.
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