Thoughts on Zcash?

[s1gs3gv]

Hhhhh... I'm mining ETH at the moment but was excited to hear that I could mine Zcash. But now, well, I guess not What algorithm is it again?

https://www.internetsociety.org/sites/default/files/blogs-media/equihash-asymmetric-proof-of-work-based-generalized-birthday-problem.pdf

https://github.com/zcash/zcash/wiki/Mining-Guide

https://zcashminers.org

https://forum.z.cash/t/final-zcash-mining-specifications/355



More info available to those who know how to google ~LOL~

[newIndia]

If I have Z H/s, how much zcash will it mine per day (for first 34 days and after that), assuming Global Network Hash Power = G H/s? Any equation?

[hyc]

3) The use of the LMDB database to store the blockchain on disk. In this respect Monero is more like Bitcoin or Dogecoin rather than Bytecoin. The original Cryptonote protocol used a flat memory model with the blockchain stored in RAM. Storing the blockchain in RAM is of course totally impractical. Try that with Bitcoin's over 100 GB blockchain.

As with Monero, the cryptonote/bytecoin project has not stood still all this time.

The blockchain storage has been moved to a database powered by RocksDB resulting in significant RAM consumption reduction. The newest Bytecoin daemon takes up modest 150-200MB RAM, a sixfold decrease comparing to the previous versions.

https://bytecoin.org/news/bytecoin-2.0.0-major-update-beta/

However, thanks for the interesting post! 

RocksDB is, in a word, garbage. It uses a new file descriptor every 10 MB, it will not fit on mobile devices if/when the blockchain gets popular and grows to multiple GB. It requires extensive, complex tuning (over 40 tuning parameters) to get acceptable performance. The code base is huge, over 250KLOCs. At a conservative guess of 1 bug per 1000 LOC that means it contains over 250 data corruption bugs at any given moment. (In contrast, LMDB is only 7KLOCs and is proven to have 0 corruption bugs. And the daemon only consumes 30-40MB. Runs easily on a mobile phone...)

[someone111]

Source of that image?

Trustless means, not sketchy initial trusted setup required?

[vtr99]

Source of that image?

Trustless means, not sketchy initial trusted setup required?

The source is known facts. It was put together so an easy comparison can be made. There are a lot of false claims out there, and this makes it easy to check the truth.

If you have any doubts they can all be quickly verified with a Google search.

[chris190]

Hi guys, how are you?
What do you think on Zcash project?
I read that it is a very interesting and unique project.
I would like to investing something, what do you think?

[Zeta0S]

Can anyone please tell me if Zcash will be minable with a GPU?

Yes absolutely, see this news article: http://www.bitcoinupdate.nl/home/video-van-een-zcash-mining-rig-op-beta2-testnet

[waterholeIO]

We at Waterhole believe in zCash as an excellent altcoin of the future for its anonymity confirmations. Therefore, our escrow/trading application, Waterhole Messenger (both iOS and Android), have already implemented the use of zCash as we've been testing extensively for several months using the beta zCash while it was in development.

[vtr99]

We at Waterhole believe in zCash as an excellent altcoin of the future for its anonymity confirmations. Therefore, our escrow/trading application, Waterhole Messenger (both iOS and Android), have already implemented the use of zCash as we've been testing extensively for several months using the beta zCash while it was in development.

Not a very good choice of branding in my opinion. 

Watering hole is a computer attack strategy, in which the victim is a particular group (organization, industry, or region). In this attack, the attacker guesses or observes which websites the group often uses and infects one or more of them with malware. Eventually, some member of the targeted group gets infected.

[nindie]

All people say about zcash
but i don't know about zcash
iam find in thread annocument nothing is about zcash
why dev zcash not write anoucment in bitcointalk

[theymos]

I have not examined exactly what zcash is doing, but zero-knowledge-proofs (ZKPs) can probably lead to cryptocurrencies that are even more anonymous than Monero or (hypothetically) mimblewimble. However, zk-SNARK ZKP systems have the trusted setup weak point. ZKP-based altcoins should take extreme care to do an especially secure key ceremony. They should have a many-page report explaining exactly how everyone can be 100% sure that the key ceremony for the trusted setup was done securely. I don't invest in altcoins anyway, but if I did, I would never even consider investing in a ZKP-based altcoin without convincing info about why I should trust its trusted setup.

It's also important to realize that the zk-SNARK crypto is new and immature. I wouldn't be all that surprised if someone finds a way of totally breaking its security someday. The code itself may also be weak -- a year or two ago a flaw in the most popular zk-SNARK library was found which rendered things relying on it completely insecure, for example.

[Dabs]

You only need one honest member in the "trusted setup" to make it work right?

That's easy. Hire a bunch of guys who are deemed trustworthy, who say they will do it properly, and then trash the system they did it on (burn it, destroy it, drop a giant car magnet on it, etc.) If they get the top 10 or 20 trustworthy people / coders / escrow / ... it's like the firing squad theory where the "guilt" of execution is distributed so more people are likely to actually hit the target, but you only need one person to hit so everyone else can miss.

Another way is to make software, open source, publicly installed on a system, with a lot of witnesses, audited on the spot, generate the keys needed, do the ceremony, and when it's finished push a button or light a fire under the whole thing, for everyone to see. Of course, some "magic" can be involved in such theatrics, with someone secretly storing the private keys.

Maybe some sort of "live cd/dvd/iso", run on a small system like the Raspberry Pi, or similar to the hardware wallets like trezor or ledger or case ... with a sledge hammer at the end of the "ritual".

I don't know what I'm talking about as I don't completely understand how zcash works, but that's my take on it. (I'd be happy to volunteer to be one of the bunch of guys, if it's not yet done already, or if some fork decides to "redo" a new chain.)

[theymos]

You only need one honest member in the "trusted setup" to make it work right?

I think I read somewhere that it might be possible to do the trusted setup by having multiple independent people using their own computers, and only one of them needs to be honest. But the existing zk-SNARK software doesn't do this.

If one central computer is used, then all of the trust is on that computer's security. A compromised computer can do evil things no matter how many people are involved.

[Dabs]

I'd be happy to be one of those independent people. I'll video the whole thing and put up a vote on how the private key is to be destroyed: thermite, C4, 5.56mm bullet or .45 ACP. (I'm trying to have fun too.)

[toknormal]

All obscurity-based tech is good for one thing and one thing only - hiding the blockchain and limiting its auditability.

In that respect they will have some residual value as a technology, but very limited monetary premium. A tunnelling system for 'real' (bitcoin compatible, transparent blockchain) money.

The SSH of cryptocurrencies.

[HeroCat]

Zcash will be next ETH, so if you buy it now, you can sale it later with good profit. Many people think that Zcash will be popular. May be it is privacy technology, which make it so popular already, before the launch.  

[MrGood]

Zcash will be next ETH, so if you buy it now, you can sale it later with good profit. Many people think that Zcash will be popular. May be it is privacy technology, which make it so popular already, before the launch.  

There's no way zcash could ever go global because of it's connections with the Israeli government.

It might make some noise in America and parts of Western Europe, but everywhere else in the world will reject it.

[Searing]

Zcash will be next ETH, so if you buy it now, you can sale it later with good profit. Many people think that Zcash will be popular. May be it is privacy technology, which make it so popular already, before the launch.  

Gonna toss up a rig and split it with a buddy for the heck of it...6 gpu rig assuming you can use such yet...worse comes to worse it is an ethereum rig late to the party if z.cash tanks and we maybe get 1/2 our $$$ back kinda/sorta as a back up plan (and or have some nice gpu cards for sale or game servers)

boredom..is dangerous..but wth ....

[BossBee]

Zcash will be next ETH, so if you buy it now, you can sale it later with good profit. Many people think that Zcash will be popular. May be it is privacy technology, which make it so popular already, before the launch.  

There's no way zcash could ever go global because of it's connections with the Israeli government.

It might make some noise in America and parts of Western Europe, but everywhere else in the world will reject it.

Does any where else even matter 

[someone111]

Launch of zcash looks totally fcked up.

- cpu mining: public
- gpu mining: private

So hashing power is centralized quite from start. The fair start that they wanted to deliver did not hold up. The thing in harmony with their goals would have been to delay the start. Together with the initial trusted setup, I guess zcash is worth no more than a pump and dump.