tl;dr - zk-proofs are the best privacy tech; mixing algos are the new fool cells. ZECs features reflect important qualities about the ZEC developers: that they are gentlemen and statesmen. Zooko is an OG badass; his vision is the most important on the Internet.
Best Privacy. ZEC utilizes the strongest cryptographic techniques - zero knowledge proofs. Full stop. Why would anyone concerned about privacy settle for less than the best encryption? Privacy coins that rely on mixing algos are in a precarious position: they are implementing techniques (data mixing) that machine-learning tools are designed to break. Good luck. Consequently, it also seems to be the mixing crowd that is concerned with what % of transactions are 'private' vs. 'public' - because for mixing this matters. For ZEC, which stores value in the Dark Pool, not so much. See below.
Best Strategy. A lot of ZEC criticism is about the fact that ZEC's privacy features are optional, and not a mandatory or default option, e.g., "I'm not quite sure what the point is of a privacy coin that doesn't default to privacy. "
Firstly, since when is providing fewer user-options a feature and not a bug? It's a bit infantalizing to assume that privacy coin users are so low-IQ that they can' tell the difference between t-addresses, and z-addresses. But I could be wrong. Maybe there is a need for forcing privacy options, and Monero will ultimately survive as a sort of short-bus coin for the ones that can't figure out ZEC.
Secondly, ZEC t-address/z-address flexibility is an incredibly thoughtful and strategic feature given that the biggest threat to the durability privacy coin projects is regulation. Add on that ZEC also provides 'viewing keys' so that users can optionally provide records for private transactions, and ZEC seems to be the only project that understands the need to balance the tripartite goals of regulatory approval, exchange adoption, and strong privacy. After all, what is the point of a privacy coin that doesn't get widely adopted??
Best Team. The hackers/cypherpunks behind ZEC are best in class. The real deal. For anyone that doesn't know the history behind Zooko and his involvement in this space, please do some homework. Satoshi Nakamoto was literally reading Zooko's blog while building BTC.
So why should you care?
Well it means that Zooko's project is OG and badass. It also points to the fact that, in many ways, ZEC is what BTC originally wanted to be. Nakamoto solved consensus, but not privacy. ZEC has both. And besides, doesn't it give you some comfort to know that the founder is an old school cypherpunk/Nakamoto-contemporary, and not some China-based meme boy that named his project after a Disney movie? (I still love you Jeff Bridges).
[link] [comments]
via Zcash https://ift.tt/3r85FVO
Comments
Post a Comment