I love everything about Zcash, even though I’m down 40+% (…clearing throat…). I really do love the privacy/freedom that comes with Zcash. To me, thats what makes it valuable.
But, I couldn’t help but wonder if it would be possible to come up with another version of Zcash that is backed by gold and silver (ZEC-G, ZEC-S). This will help reduce volatility and still provide for possible upside.
I mean, how awesome would it be to have ZEC backed by gold and silver and totally private? To me…that would be everything…the ultimate.
Would this even be possible? Do you feel the same way and think this might be a good project?
The price of Zcash is not good yet, so one Zcash is already enough and it is a good coin listed on Coinbase.
I’m sorry, I don’t understand. What does the price have to do with having a Zcash version backed by gold/silver?
It doesn’t affect the price, but I think I’m satisfied with just Zcash. Of course, it’s a good system, but I don’t think it’s smooth yet.
On base level zec, introducing a physical object that must be tracked creates an audit pain point. Since yhe metal is outside of the network, a trusted third-party would be needed to hold the gold and at that point the third-party could save a lot of time and energy by simply running a database rather than a global ledger with pseudonymous consensus.
When ZSA(zcash sheilded assets) go live on the network, it will be possible to support physical backed tokens. This is what you should wait for. With zsa; stablecoins, gold backed tokens, nfts, etc will all be possible.