Isn't the idea of Zcash contradicts to blockchain idea?


#1

Hey guys!

I’m new in Zcash so apologize for my stupid question.

But isn’t Zcash idea of private transaction contradicts the idea of transparent transactions in blockchain? Or, maybe, I don’t understand something?

Please help!


#2

Not a stupid question at all, probably the most important feature of Zcash.

Transparent transactions cause problems, for example a large business would be publishing all their financial information if they used them - which is a bad thing as their competitors could track/identify their customers, suppliers, basically everything.

Zcash shielded transactions allow you to choose who can see that information, for example regulators, auditors, for taxes, responding to court orders etc - all important things.

Its also important for personal privacy, I doubt anyone likes the idea of their transactions being tracked/back-tracked to identify how much money they have.


#3

I see. So you still can allow some people to see your transactions


#4

Referred to as “selective disclosure”