Thoughts on Zcash?

[roykiyosi]

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?

[bdamenaakter]

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.

[kamal420]

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.