What made me change my mind about Zcash

I have been in crypto for awhile now, but only very recently have joined the zcash community, and now strongly believe in zcash.

I believe in zcash from all sides: tech, devs, price, etc.

I first read about zcash back when it was just the zerocoin paper, and all theoretical.

When zcash first came out I was extremely excited because of the ground breaking tech, and I had anxiously been waiting for zk-snarks to evolve from a paper to a full fledged crypto project.

However, I stayed at an arms length’s distance because the zk-snarks were opt-in and because of the required trusted setup.

With shielded transactions being opt-in, the vast majority of the transactions were transparent, and I didn’t see this changing. This caused the anonymity set to be quite small. The trusted setup also made me uneasy.

A couple months ago I decided to check back in with zcash, since I remembered the Sapling update scaled the trusted setup to be among many participants instead of just a handful with Sprout, which made the trusted setup slightly better for me.

When I decided to research zcash again and see what the devs were doing, I was incredibly shocked to read about Halo! The amazing devs had somehow found a way to make zk-snarks trustless, something that was always thought to be impossible! The zcash devs literally made the impossible, possible.

In addition, I read that Halo was switching zcash to shielded by default unified addresses, which would change shielded transactions to opt-out, instead of opt-in.

I predicted that this would cause the Orchard pool size to be orders of magnitude larger than any other shielded pool had ever been, and therefore zcash’s privacy tech would dominate the privacy space.

In the past I had begrudgingly thought monero had the best privacy tech even though I was well aware of its downsides, only because zcash’s anonymity set was pretty small due to shielded transactions being opt-in, which most people did not choose to do.

Once I read about Halo being activated soon (this was a couple months ago), I was so excited to join zcash and support the project with its truly groundbreaking tech! And I’m so excited to continue seeing the size of the Orchard pool continue to grow!

What caused you to join/pick zcash?

  • Its openness to consider adoption of Proof of Stake, while not forcing or rushing it, putting its community at risk. Bitcoin’s unconditional refusal to even consider Proof of Stake will hamstring its adoption. Mining bans are starting to go into effect; it’s not unreasonable to expect that transaction bans will follow at some point. Look at how wikipedia has started to refuse accepting donations in bitcoin over stated ecological concerns. One can argue that the environmental concerns against digital currencies are a ruse by some with other agendas, that the output of carbon by traditional finance over many years has been far worse; but the fact remains: carbon output WILL be used to hamstring digital currency adoption -so why invite the opportunity to do so? That’s self-sabotaging. Address that alleged issue on the side with a best effort, and move on from it.

  • The speed of its transactions and their low costs

  • The good efforts of ECC to maintain a good reputation and discourage its use for any destructive or violent activities…