Monero (XMR) Vs. ZCash (ZEC): Which Coin Rules In The Anonymity Kingdom
Both Monero (XMR) and ZCash (ZEC) are privacy-oriented coins that boast a lost of advantages but also downsides, as more and more cybercriminals prefer using them precisely due to their privacy-oriented features.
“Currently, altcoins like XMR, ZEC, and XZT are taking the lead in pursuing privacy related innovations. Innovative technology is changing the game in the blockchain industry,” Litecoin’s developer Charlie Lee said.
But what if it were to compare the two coins? The Coin Shark talked about technology, real use cases/implementation and perspectives, in order to compare the tokens.
Monero’s path of sent funds is completely secured from tracking, and this means that the amount of transactions is hidden from third parties.
The transaction data is available only for the sender and recipient. Monero enjoyed a successful technical hardfork back in October 2018 when developers implemented the proof protocol with a zero Bulletproofs disclosure.
The result was decreasing commissions of Monero network transactions by 90%.
Unlike Monero, ZCash has been working on a Zk-SNARK protocol with zero disclosure since its very launch.
The protocol hides data about the sender, recipient, and amount of transactions and the only info that’s left in the network involves the transaction completion.
But because there’s a massive amount of necessary computing power, not everyone could enjoy anonymous transactions.
ZCash also had a hardfork back in October 2018 when the new tech of anonymous Sapling addresses got added.
The update resulted in the fact that the network will provide anonymous transactions to all users.
As a conclusion, ZCash is pending, while Monero has already implemented the necessary technology.
Real world use cases/implementation
Monero is the preferred coin of the darknet users. This doesn’t mean that XMR is used only for illegal deals. Regular sellers are also appreciating privacy which XMR offers.
Even if ZCash is also on the regular and black markets, it still has lower trust.
What the future holds
Monero and ZCash perspectives are about the same since both tokens prefer anonymity. They’re both moving against governance, and their financial flow is not controlled.
Judging by all the aspects presented above Monero turns out the king of the anonymity kingdom for now.
Ex-Google engineer, Charlie Lee is the creator of Litecoin and MD of the Litecoin Foundation. Previously Director of Engineering at Coinbase, Lee now focuses full-time on Litecoin. To enhance fungibility and privacy of LTC, integration of MimbleWimble has begun, however Lee has recently announced a crowdfunding launch to fund the development.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.