Monero or Zcash – what is better?
Monero and Zcash are two popular privacy-focused cryptocurrencies. Both of these cryptocurrencies are based on the same underlying technology of blockchain, but they differ in terms of privacy features.
Monero is an open source, decentralized cryptocurrency that offers strong privacy, scalability, and fungibility. Monero uses a technology called ring signatures and stealth addresses to obfuscate the sender and recipient of each transaction. This makes it difficult for anyone to track the sender and receiver of a transaction. In addition, Monero also uses ring confidential transactions (RingCT) to hide the amount of each transaction.
Zcash, on the other hand, is a centralized cryptocurrency developed by a company called Zcash Electric Coin Company. It uses a technology called zk-SNARKs (zero-knowledge proofs) to ensure that the sender and recipient of each transaction can remain anonymous. It also uses a technology called shielded transactions to hide the amount of each transaction. Zcash is less decentralized than Monero, as it is mined mostly through the Zcash company’s own mining pools.
When it comes to privacy features, Monero is generally regarded as the more secure and anonymous option. This is because it offers strong privacy features, such as ring signatures and stealth addresses