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While zk-SNARKs is a cool piece of technology, their source of funding[1] doesn't inspire confidence. In addition to that, even the few people people who do us
by lordofgibbons 4y ago
While zk-SNARKs is a cool piece of technology, their source of funding[1] doesn't inspire confidence.
In addition to that, even the few people people who do use Zcash, don't use it's privacy features. 99% of their transactions aren't private and are fully traceable [2]. Why would you want your transactions to stand out?
[1] http://zerocash-project.org/about_us http://zerocash-project.org/about_us
[2] https://news.bitcoin.com/not-so-private-99-of-zcash-and-dash-transactions-traceable-says-chainalysis/ https://news.bitcoin.com/not-so-private-99-of-zcash-and-dash...
- MerelyMortal 4y agoA couple of years ago on reddit, someone issued a challenge to find the destination of their private Zcash transaction. Someone won the challenege, not by tracing the transaction itself, but by recognizing it was the only transparent to private, and private to transparent transactions with in a timeframe. That's why privacy needs to be mandatory like it is with Monero.
- pontus 4y agoThis is quite outdated, I believe. With the launch of NU5/Halo2 in a couple of weeks, all transactions will be private by default. Plus, even without that change, the shielded pool is way larger these days. Finally, a fairer comparison with Monero would have been to trace a shielded to shielded transaction. This should be literally impossible with Zcash.
- MerelyMortal 4y agoPrivate transactions by default sounds good, glad to hear. I guess that's why they extended their 20% dev tax past the initial first half of emittance like they originally advertised.