Hello dear Zcash community.
I am bag holder of Zcash and I would like to answer myself couple of questions. I would like to apology if I am asking silly questions but unfortunately I am not very crypto educated. I am doing my best to learn as much as I can every day but is hard with all these projects developing super-fast.
I am very confused with all these “ZK’s” . When I read an article about zkRollup , zkSync , ZK- SNARK , always first thing that come to my mind is ECC and Zcash .
After I saw the news that Tether partners with OMG network for L2 Scaling, the OMG token pumped with x5-x6 round about. Some weeks after I read news that : “ Tether is now planning to add support for ZK-Rollups to reduce pressure on Ethereum “ . I was very happy because I saw again “ ZK’s “ and I was trying to find out more about who is behind the development of ZKRollups but no success so far.
I know basics about ZK Rollups , ZK- SNARKS , ZKSync , so no need help for learning some basics.
My questions is: Who is behind the development of ZK – Rollups and does it have anything to do with Zcash and Zcash team ? Loopring (LRC) ,for example, is very hyped at the moment just because is using ZK-Rollups for scaling. We all know that Ethereum community is also very positive about it and many many others. So simply , If a company ,organization or a token uses ZK- Rollups , ZK-SNARKS or any ZK’s does it have anything to do with Zcash network at all ? Is it bullish for the future of Zcash or it has nothing to do with it?
My second question is about “Privacy”.
I was very bullish about the fact that GEMINI and Coinbase are supporting Zcash as both are regulated by New York State Department of Financial Services (NYSDFS). How I imagine it is that if a token is listed there, means that it meets all needed requirements. As far as I am informed, all exchanges that support Zcash at the moment are using only Transparent transactions (t2t). Do you think that one day all these exchanges will be able to support also Shielded transactions ( z2z ) ? Is that the goal of ECC ? If yes , do you think that NYSDFS will give support for such a move ? Do you think that Exchanges like Kraken, Bitfinex, Binance etc will be able to support ( z2z) transactions with all these regulations and KYC’s. If yes , ok BUT if no? How and for what cases these shielded transactions will be used? Only between mobile,decktop and hardware wallets may be / if they support it at all / where there is no KYCs ? . I would like to hear some comments about that as well.
Sorry again if my questions sound silly but I will appreciate if you can help me answer my questions. And I am sure I will have some more after that
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