Zcash vs Monero. The Cryptocurrency Battle Has Just Begun! #zcash #monero

This video shows a comparison between Zcash and Monero Cryptocurrencies based on their YTD.

What Is ZCash?
ZCash is a cryptocurrency with a decentralized blockchain that seeks to provide anonymity for its users and their transactions. As a digital currency, ZCash is similar to Bitcoin. Like Bitcoin, ZCash also has an including its open-source code, but their major differences lie in the level of privacy and fungibility that each provides.

Understanding ZCash
The success of Bitcoin paved the way for hundreds of alternative cryptocurrencies, including ZCash, to emerge. The demand for privacy increased as cryptocurrency users understood that their transactions were easily traceable in the blockchain. ZCash was founded by Zooko Wilcox-O’Hearn in October 2016 in response to Internet users' demands for an open financial system with added privacy features.


Bitcoin was a pioneer in the open financial system; ZCash seeks to maintain the same structure as Bitcoing but with privacy and fungibility as added feature. Fungibility refers to the ease with which one commodity can be substituted for another. Money–whether it is gold or a fiat currency like the U.S. dollar–is fungible because you can trade it for anything else.


Because fungible instruments are susceptible to fraud and theft, gold is kept in underground vaults and fiat currencies require constant surveillance by treasuries and central banks. Bitcoin's solution to fraud and theft was to make all transactions totally transparent and one hundred percent traceable.

Zcash innovated by adopting Bitcoin's open ledger system and encrypting information about the ledger's users. This means that even though all ZCash transactions are recorded on a blockchain, the transactions are encrypted and can only be viewed by users that have been given access to them.

Most digital currencies that provide anonymity–for example, Monero–rely on private keys that are built with alphanumeric characters. Crytocurrency users are also given a unique public address which acts as their identity (similar to the Internet Protocol, or IP, address assigned to computer network users). The public address is required to receive funds from another user; this also means that the sender has to be given the other user's address in order to facilitate the transfer. The user’s private key gives them access to their funds and the key is attached to the specific transactions that they make.

Monero (XMR)
Monero is a secure, private, and untraceable currency. This open-source cryptocurrency was launched in April 2014 and soon garnered great interest among the cryptography community and enthusiasts. The development of this cryptocurrency is completely donation based and community driven. Monero has been launched with a strong focus on decentralization and scalability, and it enables complete privacy by using a special technique called “ring signatures.”

With this technique, there appears a group of cryptographic signatures including at least one real participant, but since they all appear valid, the real one cannot be isolated. Because of exceptional security mechanisms like this, Monero has developed something of an unsavory reputation—it has been linked to criminal operations around the world. While this is a prime candidate for making criminal transactions anonymously, the privacy inherent in Monero is also helpful to dissidents of oppressive regimes around the world. As of January 2021, Monero had a market cap of $2.8 billion and a per-token value of $158.37.

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