Decrypt’s Tim Copeland attended a developer conference hosted by the Electric Coin Company in Croatia. He reports that the company is considering the most significant possible changes to its product, Zcash.
#2 Privacy Coin Considering Massive Development Pivot
If you’re studying crypto, you may have heard of Zcash. It’s a “privacy coin” which allows users to guard their transaction details from the public, and currently the #2 coin in its class by market capitalization (after Monero). Zcash developers want the cryptocurrency to service as many as 10 billion people in the coming three decades, Copeland reports, and they’re willing to do just about anything to get there. One of the major considerations they’re currently undertaking is whether or not (and how) to implement “sharding,” a scaling technique advanced by Ethereum. Adamant Capital analyst and Bitcoin commentator Tuur Demeester believes this is an admission on ECC’s part that their original design was never scalable. Zcash is essentially the Zerocoin protocol inserted into Bitcoin – as an oversimplification. Important aspects spending funds differ. Zcash has certain limitations inherited from Bitcoin and its initial design, which the company would like to solve a bit more creatively than simply increasing the size of blocks. https://twitter.com/TuurDemeester/status/1142759745339703296 Once again, Zcash is building on the shoulders of giants, following important aspects of Ethereum’s developmental roadmap. The company says that they will have to make changes so drastic that an entirely new blockchain design will be required.
Zerocoin Protocol-Based Developers Get Creative
Presumably, this future hardfork will credit existing holders. But, new designs necessarily entail new vulnerabilities. Not so long ago, a bug was found in the Zerocoin protocol which enabled unlimited inflation https://cryptoslate.com/zerocoin-exploit-found-zcoin-attacked-other-privacy-coins-at-risk/. The CryptoNight protocol, which underpins Monero, once saw a very similar bug emerge in Bytecoin,