also why this coin is not known?
Maybe because it's not the least bit decentralized?!
Topic: Thoughts on Zcash? - page 51. (Read 123380 times)
Maybe because it's not the least bit decentralized?!
2) The high computing cost of creating the zerocoins. Time is of course on the side of this technology; however at this point it may simply be not practical at all especially on mobile devices.
3) Fungibility, privacy and anonymity are in fact optional, which when combined with 2 above could easily lead to a situation where the fungibility, privacy and anonymity are seldom used, effectively creating very small mix sets.
3) Fungibility, privacy and anonymity are in fact optional, which when combined with 2 above could easily lead to a situation where the fungibility, privacy and anonymity are seldom used, effectively creating very small mix sets.
CredaCash is another new cryptocurrency that uses Zero Knowledge Proofs to achieve complete privacy. CredaCash was started as in independent project before Zcash was announced. All transactions in CredaCash are private. Most importantly though, CredaCash can create a completely private transaction in 5 seconds, while it takes Zcash and its clones around 2.5 minutes. This speed up was accomplished by optimizing the Zero Knowledge Proof algorithm. CredaCash has a Windows binary with source code on GitHub. The website is credacash.com
never heard of it, when this coin was created before monero and others? if it was really so innovative and was created before zcash, why zcash did not evolved it's code, to match the speed of this credacash coin? also why this coin is not known?
CredaCash™ is a next generation cryptocurrency that features:
Speed: Transactions clear in just a few seconds.
Finality: Cleared transactions are final and cannot be reversed.
Privacy: Transactions are encrypted using Zero Knowledge Proofs to keep the source of funds, destination of funds, and the transaction amounts completely private. CredaCash can create a private transaction in about 3 to 6 seconds, much faster than any other cryptocurrency that uses zero knowledge proofs.
Scalability: A single blockchain can scale to thousands of transactions per second. In the future, multiple blockchains will be interconnected and payments routed seamlessly between them, similar to routing data on the internet.
Speed: Transactions clear in just a few seconds.
Finality: Cleared transactions are final and cannot be reversed.
Privacy: Transactions are encrypted using Zero Knowledge Proofs to keep the source of funds, destination of funds, and the transaction amounts completely private. CredaCash can create a private transaction in about 3 to 6 seconds, much faster than any other cryptocurrency that uses zero knowledge proofs.
Scalability: A single blockchain can scale to thousands of transactions per second. In the future, multiple blockchains will be interconnected and payments routed seamlessly between them, similar to routing data on the internet.
2) The high computing cost of creating the zerocoins. Time is of course on the side of this technology; however at this point it may simply be not practical at all especially on mobile devices.
3) Fungibility, privacy and anonymity are in fact optional, which when combined with 2 above could easily lead to a situation where the fungibility, privacy and anonymity are seldom used, effectively creating very small mix sets.
3) Fungibility, privacy and anonymity are in fact optional, which when combined with 2 above could easily lead to a situation where the fungibility, privacy and anonymity are seldom used, effectively creating very small mix sets.
CredaCash is another new cryptocurrency that uses Zero Knowledge Proofs to achieve complete privacy. CredaCash was started as in independent project before Zcash was announced. All transactions in CredaCash are private. Most importantly though, CredaCash can create a completely private transaction in 5 seconds, while it takes Zcash and its clones around 2.5 minutes. This speed up was accomplished by optimizing the Zero Knowledge Proof algorithm. CredaCash has a Windows binary with source code on GitHub. The website is credacash.com
3) The use of the LMDB database to store the blockchain on disk. In this respect Monero is more like Bitcoin or Dogecoin rather than Bytecoin. The original Cryptonote protocol used a flat memory model with the blockchain stored in RAM. Storing the blockchain in RAM is of course totally impractical. Try that with Bitcoin's over 100 GB blockchain.
As with Monero, the cryptonote/bytecoin project has not stood still all this time.
Quote
The blockchain storage has been moved to a database powered by RocksDB resulting in significant RAM consumption reduction. The newest Bytecoin daemon takes up modest 150-200MB RAM, a sixfold decrease comparing to the previous versions.
https://bytecoin.org/news/bytecoin-2.0.0-major-update-beta/
However, thanks for the interesting post!
I will say this over and over again until people realize this important point. Coins controlled by corporations will not succeed. A few bucks will be made and the coin will quickly be forgotten. Only grassroot community coins with active development with a REAL purpose and usecase will succeed.
I tend to agree with you there.
Direct your attention to coins that are not owned by corporate interest / ponzi/premine and you will find projects that genuinely believe in this that movement we are apart of.
Not so sure about this one!
People invest in the present. I know some projects are saddled with history and skeletons - but they can be taken over like Europecoin was or they can redeem themselves in the eyes of investors by what they do and how they behave recently. Like NXT etc.
The point is, if they are now great projects and are largely decentralised, I don't think the history makes much difference. If Eth fails. It will be because of the recent Hard Fork (Centralised) nothing to do with the historical instamine/ICO.
Projects are also judged differently across different crypto-epochs. Insta-mines/"ICOs"/Premines are judged very differently now from how they were back in the day (Spoetnik is the exception who proves the rule! Time will tell if he is right - and he often is
). The NXT ICO wouldn't even raise an eyebrow these days. Hi guys,
What are your thoughts on Zcash and its zero-knowledge proof construction? I've read that there are already a few big investors backing up this project.
Cheers!
i don't think it be go up successfully because of limited number of investors and very few known user of Zcash .What are your thoughts on Zcash and its zero-knowledge proof construction? I've read that there are already a few big investors backing up this project.
Cheers!
Really?
Zcash has been waited for and hyped more than Segway in the crypto world!
I will say this over and over again until people realize this important point. Coins controlled by corporations will not succeed. A few bucks will be made and the coin will quickly be forgotten. Only grassroot community coins with active development with a REAL purpose and usecase will succeed. Direct your attention to coins that are not owned by corporate interest / ponzi/premine and you will find projects that genuinely believe in this that movement we are apart of.
I can see it has some potential to be as good as monero.
I think that the cryptography in zcash is very interesting. My trouble is with the way the ZCASH team is putting it up. Maybe ZCASH will be some kind of bytecoin: brilliant crypto but badly put in music, with a too scammy or doubtful way of issuing the coin. I'm NOT saying that the zcash team are scammers: they are open about their post-premine, and the risky thing of their small-club trusted setup ; they are not lying, they are openly saying it ; also, the "corporate connections" are not what you would expect from an anarchist tool. But, like with bytecoin, the crypto is probably brilliant. But badly put into work.
What kills ZCASH to me, is the fact that anonymous transactions are optional. That's a no-go, a non-sense.
But I'm happy that zcash sees the daylight, as this will allow for real-world testing of ZKp crypto. I see it as a proof of concept prototype.
Hi guys,
What are your thoughts on Zcash and its zero-knowledge proof construction? I've read that there are already a few big investors backing up this project.
Cheers!
i don't think it be go up successfully because of limited number of investors and very few known user of Zcash . What are your thoughts on Zcash and its zero-knowledge proof construction? I've read that there are already a few big investors backing up this project.
Cheers!
Zcash is pretty nice and the fact is that its upcoming after monero it can also come up but we have to see this first of course.
I can see it has some potential to be as good as monero.
even SIGAINT said it wouldn't use Zcash when it was released.
Source please?https://i.imgur.com/rYAI84V.png
Just another shitcoin.
Zcash is pretty nice and the fact is that its upcoming after monero it can also come up but we have to see this first of course.
The more I read about Zcash the more I think its totally overhyped.
what would make sense is a Zcash sidechain over Monero core.If my memory serves maxwell mentioned Bytecoin, not Monero.
Damm! Will probably get more trust spammed by the Monerologists.
Memory would have to serve you well as GM said that a long time ago, hence why he suggested the original implementation of cryptonote. No one is going to use bytecoin for anything now.
I still have to do my research on it. But my first impression was skepticism when I read it will require several people with a "trusted setup"
Also 20% of each block going to the dev team by default seems a bit centralized. I wonder why they didn't do the ethereum setup of ico for dev team then regular mining
Also 20% of each block going to the dev team by default seems a bit centralized. I wonder why they didn't do the ethereum setup of ico for dev team then regular mining
even SIGAINT said it wouldn't use Zcash when it was released.
Source please?Sorry...I'll edit the post. Here's the link, but you'll need a TOR browser: http://monero7tukbkxn57.onion/
Here's the text:
What about cryptocurrency X/Y/Z? I heard they can mix/join/ninja vanish.
Bitcoin mixers (even coinjoin) are not enough to maintain transaction unlinkability. Not to mention the Bitcoin blockchain data is currently being mined and sold to law enforcement.
Dash's supernodes could collude to reveal who you are.
Zcash is operated by an LLC in the USA. Besides the obvious political problems, Zcash doesn't mix by default it is opt-in. Also, it may be possible for the maintainers to secretly inflate the currency by hiding inflation into zk-SNARK "pours".
EDIT: thanks, lethos3, for posting a pic of the site.
even SIGAINT said it wouldn't use Zcash when it was released.
Source please? Jump to: