Bitcoin Q&A: Zcash in the cryptocurrency ecosystem

[AUDIENCE] Quick question, can you give us your
thoughts on Zcash, which will launch tomorrow? [ANDREAS] I must say that I am not an expert [in it],
but I downloaded and ran the test net version of Zcash. I did some test transactions just to see
how it works, looked at the source code a bit, and read the implementation of zk-SNARKs. I probably understood about 30% of it.
[AUDIENCE] That is a lot. [Laughter] [ANDREAS] That is generous, right.
Maybe less. [Laughter] I find it fascinating. I also understand that from a scaling perspective,
Zcash has some challenges that are significantly… bigger than the scaling challenges of
Bitcoin, Ethereum, or other systems. But I also understand that it works very
well collaboratively with other chains, I would love to see Zcash as a sidechain.
I would love to see it as part of the ecosystem. As you [build] an ecosystem of developing blockchains,
you can borrow features from each of them, or you can use their features temporarily. You can move your money into Zcash for a high degree
of anonymity and privacy, then move to something else. Run a smart contract in Ethereum, then move to bitcoin
and put it in cold storage for long-term value. They are all part of the ecosystem;
we all benefit from these inventions. I am excited to see how it goes.
I hope it goes well.

Leave a Reply

Your email address will not be published. Required fields are marked *