Each resident of “crypto kingdom” adores cryptocurrency for its advantages and possibilities. The point is that anonymous money is highly valued by fellow servants. As their holders have full financial freedom. The most famous and desirable are Monero and Zcash. But this kingdom isn’t big enough for both of them. So there should be only one king.
Round #1: Technology
Originally, Monero’s developers were chasing the idea of automated money transfer by technology circular confidential transactions. The core of the technology is that the recipients of funds are “invisible” for other network users and the funds are provided with the additional protection. As a result, the path of sent funds is secured from tracking and the amount of transactions is hidden from a third party. The information of transaction is available only for recipient and sender.
Disadvantage of Monero technology
The circular technology coped with its task. Nevertheless, such result entailed high expenses of network resources which influenced the commission rate for transaction. Monero network commission is practically the same as that of Bitcoin.
Hardfork in Monero network
The automation of transaction Monero development was practised till the successful technical hardfork of 18th October,2018. During the update the developers replaced the circular confidential transaction with a proof protocol with a zero Bulletproofs disclosure. As a result, the commision of Monero network transaction was decreased by 90%.
Unlike Monero, Zcash has been working on a Zk-SNARK protocol with a zero disclosure since the launch. Such protocol hides the information about a sender, a recipient and an amount of transactions and the only data left in the network is about transaction completion.
Disadvantage of Zcash technology
Because of a big amount of necessary computing power not everybody was able to use anonymous transactions. The holders of full node were lucky and the rest of “mere mortals” were satisfied with usual transactions which have a lot in common with transactions in Bitcoin network.
Hardfork in Zcash network
During the Zcash hardfork network of 29th October, 2018, the new technology of anonymous Sapling addresses was added. After the update the network is no longer wasteful on processing transactions which will provide with the access to anonymous transactions of all Zcash network users.
Nevertheless, Sapling is still not fully implemented, plenty of time will pass before it complete launch in network. The complexity is that for its complete implementation it is necessary to attract the providers from a third party wallet-services, exchangers and crypto exchange. But for now, Zcash is still in pending and Monero has launched a new update of Bulletproofs network in which have changed the algorithm for mining in order to protect from Asic-device. Although Zcash is still doesn’t see this problem.
The result of the first round
Monero wins the first round because Zcash put down arms.
Round #2: the sphere of real implementation
We are sure that some of our readers will say: “There’s nothing to think about, Zcash is a winner”. You are right, despite the fact that Monero capitalization is more than Zcash’s by a billion dollar, Monero daily bidding is only $16 million at a time when Zcash’s is $116 million. In addition, Zcash have more influence at various cryptocurrency exchange. So, the answer is logical.
If traders’ preferences are clear, but what about regular crypto users for which the digital currency is the primary means of payment? Actually, everything is simple: they chose Monero. Maybe the following will be a discovery for you or maybe not, but Monero is the most demanded currency of the darknet users.
Even though Monero is the darknet favorite, it doesn’t mean that it is used only for illegal deals. Actually, even regular sellers appreciate privacy, which is fully provided by Monero. Of course, due to anonymity Zcash is also on both black and regular market, however it has low trust.
The result of the second round
Zcash is a commercial project which was launched with the help of investments that are being returned now by means of charging mining commission. Monero makes more confidence, since it is anonymous and closer to the world first cryptocurrency – Bitcoin. It is more widespread and implemented in real spheres of activity.
So, Monero wins the second round, again by surpassing its opponent. Zcash chances on becoming the king are decreasing.
Round #3: Perspective
The perspectives of Monero and Zcash are almost equal, since these cryptocurrencies prefer anonymity. It means that they are both moving against governance and their financial flows are not under control.
Next year, Groupe d’action financière will put forward the recommendations on digital currencies management. There is high probability that turnover of anonymous coins will be restricted. However, this will not affect the value of coins itself outside the exchanges and exchange services.
Well, if the turnover of anonymous cryptocurrency isn’t restricted than the Monero and Zcash will continue scaling up, improving and securing their leading positions on the crypto market.
The result of the third round
They are both aiming at confidentiality. And until the measures against anonymous coins are taken – the demand and popularity of Monero and Zcash will grow daily even outside the kingdom.
Despite the fact that both have fought honorably, the winner of the third round is “friendship”.
Conclusion: who’s the king of anonymity in the crypto world?
Based on the outcome of the 3 round tournament, the crown of the king goes to Monero and Zcash becomes the vice-king. It is worth mentioning that the gap between engaged in combat is minor.
Maybe some of you doesn’t agree with the final result. But since the organizers of subjective fight is your cosmic The Coin Shark, so the king of anonymity in this review is Monero. It is closer to classic cryptocurrencies, trusted, and its anonymous feature leads mankind to a new era of financial systems.
Zcash has all chances to take back the crown if its developers finds the way to find common ground with authorities while saving anonymity of payments.
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