Check CloakCoin...
In my eyes the real anonymous altcoin in the market!
Care to provide any white papers or anything to back that up? What have you found in your research? Or is it just another coin in your portfolio that you are trying to pump?
Yes, ZCoin is nearly at the same level. If you ask for it, there will probably have someone to post here the link to the comparison.
i heard that zcoin, is actually better in anonymoty, it was also built first before zcash, and zcoin was built has a layer of the bitcoin blockchain, but zcash seems to have more traction, there is an inexplicable traction for zcash, and an unusual hype
If you are talking about zcash having more "traction", meaning that it has more marketing and funds being thrown at it for that reason, then that doesn't make it a better coin by any means.
People on this forum get so confused about what makes a "better coin" than another, because the only way they judge if it's better or not is based on 1) price, or 2) marketing efforts ... which is bogus, but I can see the confusion since a lot of people on here see the world through the lenses of an anarcho-capitalist... But as of right now, it is pretty obvious that price doesn't reflect usability... like at all.
Example A) It takes for ever to get a transaction to go through the Bitcoin network due to block size problems, and it has been proven that it can you can be tracked and identified through the Bitcoin network... yet it is worth ~70x more than the next leading altcoin just based on the sole fact that it was the first and has gained it's traction; not to mention be the back bone of all other altcoins...
I'm not really trying to say this to only you; but this goes for a lot of people when they say "X coin" is better than "Y coin", primarily because "X coin" is worth more.
Then it would be very helpful to share what is the correct way to look at so many coins popping like popcorn everywhere.
You pointed at the same problem i did, do you have any solution, or a different way to look at things?
Well, depends on what you are trying to achieve... It mainly depends on 1) Are you
seriously looking for an alternative way from bitcoin to transact value through cryptocurrencies; or 2) Are you looking for a coin to merely speculate, purchase, and dump for profit.
The majority of people who are into alt coins are mainly only here for reason #2; they treat it as another vehicle for investment gambling and nothing else. That doesn't mean that there aren't some development being made on other coins that seriously improves on the issues Bitcoin faces (confirmation times/blocksizes, fungibility, hashing functions, tail emissions/long term mining incentives, etc.)
If you are in it for a true alternative for bitcoin (#1), then you need to ask LOTS of questions and get those answers your self by researching the white paper for whatever coin it is and if you have other questions, preferably ask questions to the devs or other people active in the community.
But you shouldn't have to
look for a reason to support any coin; meaning that I would recommend only really researching a coin that purposes something that would
honestly improve a problem that
you, and you alone, encounter with Bitcoin all the time and would make life for you that much easier. ... This includes whether you've had issues with confirmation times, Coinbase/Circle canceling your accounts due to Bitcoin "taint", etc. (those are key issues for me personally).
ZCash is a very new currency, following a very new cryptographic algorithm (ZSnarks), that requires you to have "trust" in six people that
appointed themselves to be in charge of the generating the genesis block; if they have malicious intent, or even 'unknowingly' had malicious code on the computers they used in generating the block, then they (or the malicious code owner) could have the ability to produce infinite amount of ZCash from now into eternity... there is no way to prove they aren't doing this because of how hidden everything is in ZCash, which can provide some major problems. Not to mention, that 10% of every block reward goes to these guys.
This is enough to turn me off (personal opinion) of ZCash. These 6 people have absolute control of the coin itself and have control of the rate of inflation in it's economy. Is it just me, or wasn't the purpose of going to cryptocurrencies not having to "trust" any small centralized for of 'government' to make these types of decisions? ...
*Cough Cough*Federal Reserve
*Cough Cough*