1. Mass Adoption: Primary school math
I am not a technology expert, but with my common knowledge, I am still concerned about the potential situation of mass transactions processed by the Zcash blockchain.
Currently, Zcash blockchain processes 4,902 tx/d (May 22, 2024). Compared with the Ethereum blockchain, which processes 1,202,154 tx/d, it has a successful mass adoption. (Data from https://bitinfocharts.com/)
I assume Zcash blockchain has a potential growth rate of 1,202,154/4,902 = 245.2 times to that successful level. So I asked ChatGPT, how many transactions can Zcash blockchain can process shielded transactions right now, and how will it will effect the Zcash blockchain full node size.
ChatGPT answer:
Question1:
How many shielded transactions can Zcash network deal with per day?
Questions: If Zcash handles such many transactions per day, how much storage of full node will increasing per day?
Last year, ECC team completed the ZIP-317 update to resolve spam attacking problem. During the spam attacking period, the peak transactions are 29.785K tx/d(Data from https://bitinfocharts.com/ ). (1,202,154/29,785 = 40.36, which means 40.36 times the distance from that goal, right?) And the Zcash ecosystem mobile wallets were inaccessible to use. At the same time, Zcash full node experienced exponential growth. So my concern is: Does current Zcash blockchain can process 40.36 times amount of peak spam transactions? Are Zcash blockchain mobile wallets still usable?
After ZIP 317 update, Nate also proposed his concern with the potential problems of full node size and mass transactions on X(Twitter). Maybe Z317 is not enough; Zcash block still needs its own version of EIP-1559. And I have not seen ECC roadmap, ZF quarterly report having a plan about updating the network with ZIP-1559. Or the topic about what is the potential relationship ZIP-1559 with ZSF/Scalability/Adoption?
2. Usability: Personal experience
Not to mention the programmability goal of the Zcash blockchain(smarter Zcash), let us talk about the simple $ZEC transactions and $ZEC storage.
Before the Zashi wallet was released, I found it hard find a wallet for my ex-girlfriend(a new user and beginner) to use at that time. The first wallet i thought for her is Ywallet, in my impression, its synced process is fast. But when I downloaded the Ywallet, I found that the UX is terrible( Especially the UI is not friendly for girls , maybe it is cool)
After the Zashi Wallet release, the UX is significantly improved, but there is still some issues; for example, the Zashi Wallet on the old iPhone 11 can not fully sync. It is a pity I did not find a related related plan(maybe preformance improvement?) on the ECC Zcashi Wallet roadmap. In developing country, there are still a lot of people can not afford a latest iPhone. These are the people most in need of privacy and financial freedom (Zcash target users?).
Currently, the overall Zcash ECO Wallets UX goes a long way from the UX of Metamask or other common ETH Wallets. IMO, Metamask is still NOT friendly to use.
(A topic not in the context, I can say even MEME coin users have better UX than Zcash users. I doubt that MEME coins can reach the current level of success if MEME coin wallets are hard to use .)
3.Final Thoughts
With more and more people tweeting "Privacy is normal” on X( a prevailing and catchy slogan which curated by ECC). I am glad that the privacy problem is gradually attracting attention. Zcash, as a frontier of Web3 privacy projects, I think pragmatism is also important for Zcash to achieve the ultimate goal and vision of Zcash’s official website description - Zcash is cash for the new age - A simple, secure digital currency that protects your privacy. For everyday purchases, sending money to a friend, and your favorite crypto applications, too.