Public ledger like bitcoin or private ledger like Zcash, which one is better?

jseverson

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Quote from: Velkro on April 02, 2018, 10:06:02 PM

He is wrong then. Private ledger was discovered around 1985, its called database. Public ledger was discovered in 2009, its commonly reffered to as blockchain.
Privacy is whole different subject here, you used terms wrong. Public ledger can also be annonymous.

Well to be fair, he didn't actually mention that he preferred private ledgers. He specifically said that he prefers the privacy properties of Zcash, though he did say Bitcoin's public ledger is its biggest flaw. Some people just automatically attribute privacy to private ledgers, I guess.

Either way, if Bitcoin is facing a crackdown for criminal activity, I can only imagine the firestorm that fully anonymous cryptos would have to brave once they become popular enough.

leland orser

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For now, the privacy token may face legal problems.
Because the privacy token is widely used in money laundering, I prefer to Public ledger.

Velkro

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Quote from: greentech2 on March 25, 2018, 08:54:53 AM

Edward Snowden said that public ledger is a big flaw in bitcoin blockchain. He prefers the private ledger

He is wrong then. Private ledger was discovered around 1985, its called database. Public ledger was discovered in 2009, its commonly reffered to as blockchain.
Privacy is whole different subject here, you used terms wrong. Public ledger can also be annonymous.

cryptorTUX

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Quote from: greentech2 on March 25, 2018, 08:54:53 AM

Edward Snowden said that public ledger is a big flaw in bitcoin blockchain. He prefers the private ledger like Zcash, DASH, Monero. Andreas M. Antonopoulos also said that he wants to modify bitcoin public ledger to something more private. So which one is better the public ledger or the private ledger? What are the pros and cons?

To be fairly honest with you I myself will chose privacy more than the "open and transparent system", not because I am hiding but I find it absurd when you have people developing tools that links each person with each parishes, imagine that some marketing agency starts to do this. Next thing you know it more ads will come to your way to bombard you to buy stuffs, because they know your spending habits because you use open and transparent cash system. So far Zcash and Dash are not private by default, where XMR is. Who knows you should be careful when following public personalities as they might try to shill the coin they have full stash of.

tdrinker

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There is no answer as to which is better as it depends on each individual and their reason for using the currency. If privacy is important for whatever reasons then private ledger clearly wins, if transparency is important then a public ledger is best. For most people it probably doesn't matter either way because they have no need to be overly transparent or completely private.

avikz

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Both are two different characteristics and should not be compared because of this basic difference. Bitcoin, being an open ledger system brings transparency in the crypto transactions. Still majority of the governments are thinking it is a very high risk currency as it can be used for terrorism financing and money laundering. So private ledger system will have even lesser acceptance rate. I think open ledger system is better and truly decentralized.

greentech2

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Edward Snowden said that public ledger is a big flaw in bitcoin blockchain. He prefers the private ledger like Zcash, DASH, Monero. Andreas M. Antonopoulos also said that he wants to modify bitcoin public ledger to something more private. So which one is better the public ledger or the private ledger? What are the pros and cons?

Topic: Public ledger like bitcoin or private ledger like Zcash, which one is better? (Read 102 times)