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Re:The Security Behind the Birth of Zcash by quickben on Sunday December 04, 2016 @12:47PM (#13100841)
Do you guys know of a decent overview website for all these new hipster currencies?

But I mean a realistic one, including info such as: - how much it has been pre-mined. - why is it being pushed ( research, corp goals, etc) - limits (does one need a GPU to use it or can it execute on a CPU)

I know of few places that have lists, but I get the impression that people start currencies lately as a shot at getting rich if they take off, and not from a realistic need to do so.

Re:The Security Behind the Birth of Zcash by maxerickson on Sunday December 04, 2016 @01:31PM (#13101067)
Zcash is materially different than Bitcoin, so it at least isn't any more hipster than Bitcoin itself.

Unlike Bitcoin, Zcash transactions can be shielded to hide the sender, recipient, and value of all transactions on the blockchain.

https://z.cash/

Re:The Security Behind the Birth of Zcash by plasticmachine on Sunday December 04, 2016 @02:27PM (#13101328)
It uses completely unproven cryptography that may quite possibly be horribly broken. If you have a better definition of "hipster" than "use something for the sake of it, regardless of practicality" I'd love to hear it.
Re:The Security Behind the Birth of Zcash by maxerickson on Sunday December 04, 2016 @02:30PM (#13101350)
Oh, I will continue to own $0 in Zcash, but trying to provide actual confidential transactions isn't "for the sake of it, regardless of practicality", there is a clear motivation.
Re:The Security Behind the Birth of Zcash by plasticmachine on Sunday December 04, 2016 @02:50PM (#13101443)
No, it is. Those already exist in the form of Monero. Using some new-fangled, likely broken cryptography, is very hipster.
Re:The Security Behind the Birth of Zcash by mrb on Sunday December 04, 2016 @03:04PM (#13101515)
IMHO the biggest privacy-breaking problem of Monero is that it leaks the transaction amounts, while Zcash does not. Monero also has other inconvenients compared to Zcash: https://www.reddit.com/r/Monero/comments/41vg68/monero_vs_zc...

So you can't claim Monero already solved all the problems that Zcash is trying to solve.

Re:The Security Behind the Birth of Zcash by plasticmachine on Sunday December 04, 2016 @04:03PM (#13101758)
That's incorrect, Monero does not leak amounts since they created and added RingCT (currently compulsory on testnet, and compulsory on mainnet from a hard fork next year September) - https://lab.getmonero.org/pubs/MRL-0005.pdf

Not only does Monero already do what ZCash is trying to do, but it has two main advantages:

1. EVERY transaction is private, which means that the entropy of the anonymityset is continuously growing. Instead, ZCash restricts privacy to an opt-in mechanism (mostly due to private transactions being horrible - requiring north of 8gb of RAM and several minutes on a modern computer) which means that there is a trivial amount of entropy, and deanonymization is pretty trivial.

2. Monero is focusing on further improvements that ZCash is just dreaming about, such as their C++ i2p router, Kovri. They can do this because they've been in production, tested, and hammered for several years.

The real question is: what does ZCash provide that Monero doesn't, except some sort of ridiculous "star cred"?

Re:The Security Behind the Birth of Zcash by mrb on Monday December 05, 2016 @12:41AM (#13103603)
Monero doesn't already do what Zcash is doing. As you point out yourself, it will be "next year September" that RingCT will be live.

I agree with your other criticism of Zcash though. The situation is far from perfect.

Re:The Security Behind the Birth of Zcash by plasticmachine on Monday December 05, 2016 @04:52AM (#13104387)
No, it'll be MANDATORY from next year September, not LIVE from next year September...