One way to audit #Zcash would be for exchanges to collaborate and check if their collective “total excess sold > circulating supply”.
Maybe coming up with a distributed Proof of Reserves protocol that works for an L1 might be valuable here. I might need to dust off my notes on when I was trying to write a Proof of Reserves protocol for Zcash.
Ahh… “Proof of Reserves”
If there’s a single thing I could do to better this industry, it would be to convince every custodial service provider in the cryptocurrency space to adopt a routine Proof of Reserve program.
I guess it isn’t the first time this was suggested, at least elsewhere. Would be interesting to compare your notes!