I have noticed an increase of chatter about Zcash & Ethereum cross chain stuff recently, so this topic can now serve as a megathread for all things ZEC + ETH. I will start us off by cross-posting some previous topics below.
I see multiple links/posts about renZEC here, and wanted to point out there’s another ZEC-on-Ethereum token: WZEC.
- product page: Wrapped
- coindesk article: Privacy Coin Zcash Makes Its Ethereum ‘Wrapped’ Debut With Tokensoft and Anchorage - CoinDesk
I’d be interested for any market analytics comparing WZEC to renZEC, for example, the number of issued tokens of each, and stats about their activity on Ethereum.
From a technical standpoint, my very brief / non-detailed understanding is that WZEC is controlled by a single issuer whereas renZEC is based on the renVM network. Each has different kinds of risk. DYOR.
according etherscan at the moment
renZEC has 4,165 ZEC minted using their VM w/ 70 holders
wZEC has 9,001 wrapped using their platform w/ 7 holders
Also worth noting renZEC is an ERC-20 whereas wZEC is ERC-1404
Since such a topic has already been created (thanks to @decentralistdan) I will continue. I’ve been fantasizing a bit about ZEC + EHT.
And I was thinking more about the future of ether, since I have no questions about the future of Zcash.
So I think that Ethereum is definitely not money. Zcash, on the contrary, is ideal for the role of the money of the future.
ETH is not well suited for operations with #NFT, and I was convinced of this and practiced thanks to the CypherPunk Zero event. And anyway, the phenomenon of NFT is incomprehensible to me, although it has made a significant contribution to the popularization of Ethereum. Nevertheless, ETH will lose its leadership in this direction in the future.
OK, I’m also sure that ETH is a bad carrier for stablecoins. And I also think ETH will lose this function in favor of other blockchains with low transaction costs.
But why then Ethereum? Oh, I think he has a great role in store for him. Due to its qualities: transparency, excellent reliability and decentralization, I believe that Ethereum is the best possible way to replace the obsolete broker system. I mean tokenized assets - everything related to the stock market, and all other documents that are our certificates of ownership of anything. Transparency allows a decentralized way to fulfill the requirements of the registrar’s public record on the change of ownership of the asset. Commissions for this purpose are very, very democratic, unlike transactions for transferring the value of stablecoins. Smart contracts allow not only to transfer shares to a new owner, but also to launch the payment process in ZEC through defi and Ethereum + Zcash cross-chain solutions. The same decisions allow fair and unconditional payment of dividends to shareholders.
This is a very cool symbiosis. At the same time, the reliability of the network guarantees that shares are accounted for and stored in the best way possible.
These are my thoughts about this union. I hope we will come to this in the next 10-15 years. @zooko