Born to Die? Why ZCash May Not Live Up To Expectations

By September 30, 2016Bitcoin Business

ZCash, a new Zooko Wilcox project, has impressive list of investors and advisers, but will the new cryptocurrency pass the reality check of decentralisation and anonymity? Genesis block’s launch is near October 28 may see the launch of the genesis block of ZCash – a new cryptocurrency from the same name project led by Zooko Wilcox. The project causes great interest: without being a genuine market player yet, the company has become a part of Digital Currency Group; the buzz around ZCash is really huge, and the currency itself was valued even before the actual release. On the surface it seems that nothing can go wrong; however, there are few things that might compromise the success of the ZCash project. Complex structure behind the currency There are two words which became synonymous to the very definition of cryptocurrency: anonymity and decentralization. Usually, these two principles are respected not only towards end-users, but also among people “on the other side”. So far, the community still tries to find out who hides under the name of Satoshi Nakamoto; in many other cases we know one or several personalities standing behind one or another currency – but nothing more. ZCash development team is doing fine without anonymity; rather, they prefer talking about themselves quite openly. This is understandable: they are sincerely proud of their creation, proud of being noticed and supported by such influential people and companies from cryptocurrency world. There something that ZCash doesn’t hide as well – its impressive list of investors. Apparently, such a strong patronage creates obligations. What else explains that there are several levels of power standing behind the сurrency? Thus, in addition to the main team of engineers and scientists, ZCash also has a whole group of advisers, Gavin Andresen and Vitalik Buterin among them. Following […]

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