Peter Todd on Zcash
Zcash is a cryptocurrency that uses zero-knowledge proofs to secure anonymous transactions. Zcash has a fixed supply of 21 million coins.
Zcash reviews by Peter Todd
All Zcash reviews by expert Peter Todd.
The reality is bleeding-edge crypto is risky; the counterfeiting vulnerability is the second inflation bug that Zcash has had.
BTC has categorically worse privacy than ZEC on L1,, but the trade-off is a safer system re: total loss. Had this been exploited, it could have easily been a loss of hundreds of millions of dollars.
On BTC, an inflation bug is very likely to get caught quickly, even if exploited, because of the transparency. There might be a few days shutdown at worse: awful but survivable even in the worst case.Full review
Not the only trusted setup-related issue that's been ignored by the Zcash team: the build process broke a month after the ceremony, and Zcash has been ignoring patches to fix even these basic issues.
Highly suspicious that they have zero interest in people auditing the trusted setup.Full review