However, having said that, if you gather up 20-30 people in one room, the odds of two people sharing the exact same birthday rises up astronomically. Competition: Dash faces stiff competition with other breeds of privacy coins like Zcash and Monero as critics say the later is better than the former in terms of privacy. It is based on the Generalized Birthday Problem. I want to buy more and go all in in one of them as I strongly believe privacy is the future. Zcash (ZEC) vs Monero (XMR) Monero (XMR) uses ‘ring signatures’, ‘ring confidential transactions’ and secrecy address to cover transactional data (the transacting individuals and the amount accomplished). The weakest point in the ZCash's zkSNARK scheme is its dependence on an initial trusted setup phase (or "ceremony", as it is called) that could in theory be potentially compromised. Now we know how the one-time public key (P) was calculated. The public spend key will help the sender take part in ring transactions and also verify the signature of the key image. Assuming that all days of the year have the same likelihood of having a birthday, the chances of another person sharing your birthday is 1/365 which is 0.27%. This has been done so that miners would have the incentive to continue mining and won’t have to depend on just transaction fees after all the XMR tokens have been mined out. The caveat here is that those properties allow for easily spreading Monero-based crypto mining malware, as also described on the Monero mining software Github page: Antivirus / browser warningsUnfortunately some bot herders point their botnets to download miners directly from github, which leads them to be flagged by antivirus software. We have built an incredible community of blockchain enthusiasts from every corner of the industry. To finish off this comparison, let’s do an overview of their differences. Think of what that does to the privacy of the transaction? Compare the differences between them. Bob has 2 public keys, the public view key, and the public send key. The computation of this one-time public key generates a one-time public address called “stealth address” in the blockchain where Alice sends her Monero intended for Bob. Shielded, or private transactions could also be revealed if necessary (for the purpose of audits, proofs or some regulatory compliance reason or other, by the owner of the address/wallet himself). Tujuan Zcash dan Monero. Ring Confidential Transactions (Ring CT) is used to shield the value of the actual transaction that Alice sends to Bob. The birthday problem is one of the most famous paradoxes in probability theory. Zcash carries similarities with Bitcoin. Zcash vs Monero are the two most significant privacy coins in the market. In fact, there is a 50-50 chance for two people sharing the same birthday in this scenario! The private view key is used by the receiver to scan the blockchain to find the funds sent to them. First released in 2014, Monero's protocol involves highly sophisticated cryptographic schemes, apparently designed and developed by professional cryptographers and is perhaps the most cypherpunk-ish crypto project out there. Zero knowledge states that a prover can prove to the verifier that they possess a certain knowledge without telling them what that knowledge actually is. ZCash supports both transparent and shielded transactions (in their respective pools). Zcash originated as a fork of the Bitcoin protocol while Monero’s underlying structure is based on CryptoNote. ZCash is a company run inside the US and as much as I like zksnarks (and how in theory they're better than what Monero uses) the CEO of ZCash along with many others have hinted there are backdoors in the code. The average transaction fee spent per day exceeded $0.02 on four out of the five days in our dataset. After that, the system is designed such that 0.3 XMR/min will be continuously emitted by it. As with other mining operations, mining Monero is usually mined in pools and in the cloud. This ensures a somewhat wider adoption rate. The verifier believes that both the balls are of the same color, while the prover wants to prove that the colors are both the same. Being mostly CPU-based, Monero's mining process is much less intensive in terms of processing and computing power consumption. So applying this theory for birthdays, you have 365 different possibilities of birthdays, so you just need Sqrt(365), which is ~23~, randomly chosen people for 50% chance of two people sharing birthdays. Differences of Zcash vs Dash. ZkSTARK is said to be much faster, cheaper and most importantly, quantum-proof (as quantum computers and something already existing and expected to make much of the current cryptographic schemes and algorithms today obsolete tomorrow) without relying on any trusted setup ceremony. In this Zcash VS Monero guide, we are going to take a look at the differences and similarities between these projects. Although both in practice conceal sender, receiver, amounts and balances, they implement very different mechanisms and protocols and work in altogether different ways to achieve that. Zcash started as a fork of the Bitcoin blockchain on October 28, 2016. The Zcash Flypool and ZCash Nanopool are the most popular ones, with Nanopool also offering pools for Monero, Ethereum, Ethereum Classic and others. More than 8,000 transactions have been sent per day in our data set and exceeded 10,000 on three occasions. So Alice paid Bob in Monero without anyone getting to know. While bytecoin had promise, people noticed that a lot of shady things were going on and that 80% of the coins were already published. Unlike other cryptocurrencies, Monero has two public keys and two private keys. This is what the example program looks like: The function C takes in 2 values as input, a public hash value “x” and the secret statement that needs to be verified “w”. May 10th saw the highest average hashrate with 342.38 MHash/s and May 6th saw the least with 325.40 MHash/s. ZCash may also be much more prone to centralization, as Zooko Wilcox himself confirms, citing David Vorick's blog post, "The State of Cryptocurrency Mining" (dated May 13, 2018). The best known Monero cloud mining services at the moment are Minergate and CCG. However, because of that, anyone who sees your cheque (and knows what your signature looks like) can tell that you are the person who has sent it. Now, how does Monero ensure the receiver’s privacy? This privacy coin analysis takes a look at the two leading coins focusing on anonymizing transactions; Monero (XMR) and ZCash (ZEC). Such variables that factor in include difficulty, hash rate, ZEC/USD exchange rate, rewards per block and pool fees, hardware costss and power cost per kWh (perhaps the most crucial point, which means that Zcash mining is most profitable when having access to cheap electricity and cool environment). However, if he wants some privacy and does not want the transaction details to be open to the public, he can have the money sent to his shielded address also called “z-addr”. The ring size are random outputs taken from the blockchain which is of the same value as her output aka 1000 XMR. To understand that, you need to understand what zero-knowledge proofs are. The prover has two billiard balls, red and green. Being in many ways more of a research-invested and involved experiment, with potential for a very wide variety of application implementations beyond just cryptocurrency (having academic cryptographers and institutions involved in the R&D, such as Israel's famous Institute of Technology, Technion - which, when thought about, also makes a lot of sense, given Israel) - as already witnessed by the wide spread implementation of its ZkSNARKs (Succinct Non-Interactive ARguments of Knowledge) protocol in other cryptocurrency applications (e.g., Ethereum and others). If you want to use the pre-built binaries, you might need to add them as an exception in your antivirus. This is because the Generalized Birthday Problem has been widely studied by computer scientists and cryptographers, and Equihash is close to the Generalized Birthday Problem. In our dataset, the value of Monero has trended in a $2 range between $66.65 ad $68.50. It also reflects with the market capitalization, trading volume, and network hash power which all give Monero the stronger protocol. Soundness: If the prover is dishonest, they can’t convince the verifier of the soundness of the statement by lying. The value of “Lambda” must be kept confidential because then anyone can use it to generate fake proofs. It is because of a simple rule in probability which goes as follows. Cryptocurrencies were launched with the aim of anonymizing online paymentscompletely. While this did safeguard the sender’s privacy, what it did was that it made the transactions visible to everyone. The peak hashrate was reached on 7th May with 4.26 GHash/s and the least on 9th May with 3.66 GHash/s. Mungkin yang terbaik untuk memiliki rekap cepat dari apa yang seharusnya kamu pelajari: Dasar-dasar Zcash vs Monero. Let’s call that private statement “w”. It was first mined in October of 2016 and currently implements an equihash type Proof-of-Work consensus algorithm. After he is done switching the balls (or not), he presents them to the prover. However, the main difference is the level of privacy and fungibility at the same time maintaining the open financial system. The public view key is used to generate the one-time stealth public address where the funds will be sent to the receiver. Zcash uses zk-SNARKS for its cryptography. Monero vs Zcash vs Dash – which one should you choose? CHAPTER 4. And it is their anonymity (as opposed to Bitcoin's pseudonymity) that actually does make them fungible. They each have their own pros and cons and there is debate about which is the most anonymous. Soundness: If the prover was dishonest, they couldn’t have fooled the verifier because the test was done multiple times. Another thing to note, Alice doesn’t need to ask the owners of these previous transactions their permission to use the outputs. Monero's strong security and privacy properties have made it a popular cybercrime tool when it comes to money laundering (such as, for example, in the case of the WannaCry ransomware, the Bitcoins from which were then flipped to Monero, breaking the audit trail and making it possible to basically launder the funds - using Shapeshift at the time, the well-known cryptocurrency converter, which didn't require any registration or implement any KYC/AML policies at the time, as it does now). Some free Zcash was also offered by Coinbase's Earn program until recently, where one is offered to watch and listen to lectures explaining the purpose and workings of Zcash and answer a few simple questions after to get 5 dollars' worth of ZEC in return (however, all the ZEC has been claimed by now). CryptoNote is the application layer protocol that fuels various decentralized currencies. Another way to prevent antivirus flagging is to compile the code yourself. @poutintsevFilip PoutintsevCrypto Currency, Anarcho-Capitalism and Life Extension Advocate. The reason why Z-Cash achieves such a high level of privacy is that of the utilization of zk-SNARKS or Zero-Knowledge Succinct Non-Interactive Arguments of Knowledge. The main point here I believe is how the development teams are being compensated. On May 9th, Zcash reached a low of 66.95 million. May 7th, saw the most average transaction fees with $0.023 and a low of $0.015 on May 9th. To get started with mining Monero, visit their official site's mining section and follow the instructions. Keep in mind that digital coins are constantly improving so each of these coins might look and operate very differently in a few months. She then signs these outputs with her private spend key and sends it to the blockchain. In our graphs below, the data set chosen is May 6 – May 10. Let’s bring back our old friends Anna and Carl for this example. Consider the fact that each coin has its own unique systems and protocols. Monero (XMR) and ZCash (ZEC) are the two most popular privacy-centric peer-to-peer crypto-networks of confidential value circulation (or crypto-hawalas, if you will). Nice blog. All this also makes Monero difficult to conform with much of regulatory compliance, making its listing on exchanges more difficult. This is where it comes into play. Suppose, Alice has to send 1000 XMR (XMR = Monero) to Bob, how will the system utilize ring signatures to hide her identity? How are we going to do this? So, the proving algorithm for proof generation looks like this: Now that she has generated the proof “prf”, she is going to give the value to Carl who is finally going to run the verification algorithm of Zk-Snarks. The latest version of Monero currently implements a unique consensus PoW algorithm called RandomX, described in more technical detail here. What this means is, since the value of “x” is constant for Alice, she will never be able to generate multiple values of “I” making the key image unique for every transaction. Finally, let’s look at how mining in Monero and Zcash work. We've already covered both in two separate articles, but below we'll make a brief comparison between the two to get a better understanding of their properties in order to make more informed choices when to use which and the particular purposes best suited for each one of them. These keys are both public and available to any of the concerned parties. The average total mining reward in our dataset is $419,771.23. And you merge your signatures with these four people to create a unique signature. We should look at privacy on a scale rather than as a binary distinction. Block mining in Zcash is done via the equihash. In our data set, the peak price was reached on May 7th at $60.48. Bitcoin transactions, given the immutability of its public records in the ledger, can result in some bitcoins (UTXOs) to become "tainted", or otherwise associated with a particular hack, ransom or illicit exchange (of, say, illegal goods) - which may lead to their further spending along the audit trail be traced and blacklisted by some services, exchanges or users (or at the very least, come into suspicion or closer scrutiny). Verge VS Monero: Conclusion. Don't want to ask in Monero/Zcash Subreddit as I know the answer in both subs. If both Alice and Bob use their shielded addresses to interact with each other, then all the details of the transaction would be private. zk-STARKs instead requires a leaner symmetric cryptography, namely, collision resistant hash functions, and thus removes the need for a trusted setup. Alternatively, both Zcash and Monero provide their own respective wallets (ZECWallet and Monero GUI, CLI, mobile and hardware wallets). The verifier takes both the balls and hides it behind his back. This makes zk-STARKs both faster to generate and post-quantum secure. Overall, for the purposes of private, unlinkable transactions, Monero tends to be preferred over ZCash (when comparing ZCash vs. Monero), while ZCash appears to be more focused on cryptography research and development, using its peer-to-peer crypto-network as something of a testing ground in real life (as seen also by the amount of shielded transactions actually taking … Bytecoin was highly under speculations for being too shady, as many coins were pre-mined and distributed to a selected group of members as well as stakeholders. This is what the Zcash blog had to say about Equihash: “We also think it is unlikely that there will be any major optimizations of Equihash which would give the miners who know the optimization an advantage. A Boolean variable has only two choices, it can be TRUE or it can be FALSE. 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