Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Privacy Coins Forum => Zcash Forum => Topic started by: roykiyosi on October 01, 2018, 12:38:11 PM
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Hi, friend,
What do you think of Zcash and its zero-knowledge proof construction? I have read that there are already several large investors who support this project.
What is your opinion?
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Just as expected this coin would surely dump hard on the long run. The hype have depleted already and i consider it as a pump and dump coin, as you can see on its price its hype on the top price of 3300 btc which is already high and some investors are joining on the hype thats why it rose its price like that but now the price have been decreased to 0.4 now at poloniex which we could really expect it would go down even more.
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I have not examined exactly what zcash is doing, but zero-knowledge-proofs (ZKPs) can probably lead to cryptocurrencies that are even more anonymous than Monero or (hypothetically) mimblewimble. However, zk-SNARK ZKP systems have the trusted setup weak point. ZKP-based altcoins should take extreme care to do an especially secure key ceremony. They should have a many-page report explaining exactly how everyone can be 100% sure that the key ceremony for the trusted setup was done securely. I don't invest in altcoins anyway, but if I did, I would never even consider investing in a ZKP-based altcoin without convincing info about why I should trust its trusted setup.
It's also important to realize that the zk-SNARK crypto is new and immature. I wouldn't be all that surprised if someone finds a way of totally breaking its security someday. The code itself may also be weak -- a year or two ago a flaw in the most popular zk-SNARK library was found which rendered things relying on it completely insecure, for example.