BitShares Forum

Main => General Discussion => Topic started by: Akado on March 05, 2016, 01:02:38 pm

Title: Zerocash
Post by: Akado on March 05, 2016, 01:02:38 pm: http://www.wired.com/2016/01/zcash-an-untraceable-bitcoin-alternative-launches-in-alpha/

Whoever's interested. It will still take a while though, but didn't this project have some hype around it in the past? Wasn't this supposed to be THE anon coin?

https://z.cash/

Unlike Bitcoin, Zcash transactions automatically hide the sender, recipient, and value of all transactions on the blockchain. Only those with the correct view key can see the contents. Users have complete control and can opt-in to provide others with their view key at their discretion.
Title: Re: Zerocash
Post by: Ander on March 05, 2016, 03:54:29 pm: Reasons I prefer Monero to Zcash:

Zcash has 10% premine (20% of the first 4 years production).

Cryptography of zcash is completely new and untested, compared to Monero being based on cryptonote which has a couple decades of academic research and testing.

Zcash requires you to trust the group of people creating the genesis block, forever. If they have actually colluded, they control the coin.

If Zcash ever has a bug which creates a large number of coins, there is no way to know, EVER. Because you cannot tell any info about the blockchain. The bug exploiter could gradually dump extra coins on the blockchain for all time, and you would never know. You ill never know if that downtrend is just a downtrend, or if some guy broke zcash and he has a quadrillion of them now and can dump infinitely.

But I'm in Monero, so therefore I am required to think Zcash and Dash are both scams. :)
Title: Re: Zerocash
Post by: Samupaha on March 05, 2016, 05:35:03 pm: I opened a discussion on their forum but it didn't recieve any comments: https://forum.z.cash/t/why-a-bitcoin-clone-and-not-a-dac/340
Title: Re: Zerocash
Post by: xeroc on March 05, 2016, 10:40:49 pm: Quote from: Ander on March 05, 2016, 03:54:29 pm
If Zcash ever has a bug which creates a large number of coins, there is no way to know, EVER.
outsch .. didn't no about that one ...
Title: Re: Zerocash
Post by: CLains on March 05, 2016, 11:38:42 pm: Quote from: Ander on March 05, 2016, 03:54:29 pm
But I'm in Monero, so therefore I am required to think Zcash and Dash are both scams. :)

Not to be too off-topic, but what's the problem with Dash?
Title: Re: Zerocash
Post by: Ander on March 05, 2016, 11:59:00 pm: Quote from: CLains on March 05, 2016, 11:38:42 pm
Quote from: Ander on March 05, 2016, 03:54:29 pm
But I'm in Monero, so therefore I am required to think Zcash and Dash are both scams. :)

Not to be too off-topic, but what's the problem with Dash?

They instamined a ton of dash in the first few hours, then massively reduced the supply. Kindof like Bitshares. :P

Also mixing doesnt really provide nearly as much privacy as ring signatures.