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.

4 Likes
#3

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

1 Like
#4

Referred to as “selective disclosure”

1 Like
#5

It’s all on blockchain idea, but you have the choice to whom to show your transactions, but I guess in some kind of sense it contradicts to idea of blockchain

#6

I didn’t know I can show my transactions to anyone
Thanks for the information

#7

Really?! Thanks for info. I didn’t know about it.

#8

Its in the works (has been on the drawing table for a while now)
Its actually a really important zip


#9

Please kindly do us a favor!

#10

What kind of favor?:upside_down_face: