What does Zcash mean for Ethereum?

[ameerrosic]

http://blockgeeks.com/zcash-mean-ethereum

Many of us at ConsenSys believe the Ethereum community should be excited about the launch of Zcash and the incredible partnership opportunities that exist to bring both blockchains closer to achieving our goals.

What is Zcash?
Zcash is a new cryptocurrency that launched on Friday, October 28, 2016. A clone of Bitcoin forked from the Bitcoin codebase 0.11, Zcash is differentiated from Bitcoin and Ethereum by the added functionality of completely private transactions. For that reason, Zcash has been hailed as “untraceable”.

To allow private transactions, Zcash employs a technology from a branch of cryptography and computer science called zero-knowledge proofs. Even the smartest mathematicians in the space describe zero-knowledge proofs as “moon math”and a handful of dedicated researchers worldwide have a complete understanding of the details of how it works.

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What is a zero-knowledge proof?
Simply put, a zero-knowledge proof means you can prove to someone that you’ve done a computation without their having to redo the computation themselves. The effect is that you can prove a statement true without revealing anything about it other than that it’s true.

Zero-knowledge proofs help make Zcash “untraceable” by creating private transactions on the public Zcash blockchain. Transactions on Zcash cryptographically obscure the addresses of the sender and recipient, as well as the value one address sends to another. This is unique in that other blockchains to date show the value transfer from one address to another, and the value being sent can be seen by anyone on the blockchain. Unlike other blockchains, Zcash users can cryptographically fully shield their transactions. The only thing that is disclosed is that “something” happened at a particular point in time.

The addresses sending Zcash are all pseudonymous, meaning that if you don’t know their actual identities or real-world addresses, you can’t see where the currency is flowing to or from.

For example, let’s say you have 100 wallets each with one bitcoin, and that’s all there is on the blockchain. Now let’s say five of these people cryptographically shield their bitcoins using zero-knowledge proofs. There would be 95 transparent coins and 5 shielded ones. The blockchain and the network keep track of the amount of coins that are shielded and don’t care who un-shields a portion later. The coins go into a big pool and when you pull a little piece out there’s no way to correlate it to what went into the pool. Zero-knowledge proofs prevent people from pulling more out of the pool than they put into the pool in the first place.

http://blockgeeks.com/zcash-mean-ethereum

[thejaytiesto]

I don't see how zcash relates to ethereum , its two different niches. With ethereum you have an attempt to create some sort of "gas" token to power smart contracts, with zcash you have a very niche currency that claims to be anonymous as it gets, yet it has the fatal flaw of having to trust the developers destroying the masterkey in some ridiculous ritual. Not sure about that.

[Pattberry]

I don't see how zcash relates to ethereum , its two different niches. With ethereum you have an attempt to create some sort of "gas" token to power smart contracts, with zcash you have a very niche currency that claims to be anonymous as it gets, yet it has the fatal flaw of having to trust the developers destroying the masterkey in some ridiculous ritual. Not sure about that.

Yes thats the fact Zcash and Ethereum are not connected to each other,zcash is just a phony coin who is riding high on marketing and false promises and i am sure the prices will come down in due time.

[michellee]

I don't see how zcash relates to ethereum , its two different niches. With ethereum you have an attempt to create some sort of "gas" token to power smart contracts, with zcash you have a very niche currency that claims to be anonymous as it gets, yet it has the fatal flaw of having to trust the developers destroying the masterkey in some ridiculous ritual. Not sure about that.

Yes thats the fact Zcash and Ethereum are not connected to each other,zcash is just a phony coin who is riding high on marketing and false promises and i am sure the prices will come down in due time.

i think the same with you, i rather choose ethereum than zcash because zcash is really expensive for me to make trading than ethereum and its hard to make profit with zcash if we only have small balance. its different with ethereum, we can still make profit if we have small balance and i am make it.

[jacaf01]

Who are the we at Consensus?

Concerning our  topic, there are not related, Zcash is in the bracket of Bitcoin, Dash, Monero, Shadow and other anonymous currencies that is what it is designed for while Ethereum is a smart contract platform. I doubt it if you are actually part of the consensus team.

[Pursuer]

the only thing that Zcash means for ethereum is the fact that when it came in, Zcash took the market out of the hands of Ethereum and all traders shifted their money there to make more profit since there were a big pump and dump going on there and Ethereum was still dropping price.

[vlom]

the only thing that Zcash means for ethereum is the fact that when it came in, Zcash took the market out of the hands of Ethereum and all traders shifted their money there to make more profit since there were a big pump and dump going on there and Ethereum was still dropping price.

thats right. but not only for ETH. A lot of coins are suffering because of ZEC. and after "they" played enough with ZEC you should be ready. i will change as soon as the zec-slow-start is over. i think ETH price will go up then.

[dinofelis]

You mean, ETH is a Turing-complete and hence unprovable smart contract system, and ZCASH is an optionally fungible and anonymous crypto currency ? 

[dinofelis]

the only thing that Zcash means for ethereum is the fact that when it came in, Zcash took the market out of the hands of Ethereum and all traders shifted their money there to make more profit since there were a big pump and dump going on there and Ethereum was still dropping price.

That's what the fuzz makes you believe.  ZEC has a minuscule market cap compared to ETH, so its influence should have been insignificant.
Hell, the dip that monero and dash took was larger than the entire market cap of ZEC.

[Zadicar]

There nothing to compare between ZCASH and ETH since they are different in any ways and some things even they are both crypto but ETH is much better for me rather than on just a newly high hyped coin which really dumps its price after. You can see ETH than even how many problems does it experience but until now its still standing and kicking though, not as good as bitcoin but a good alternative.

[Spoetnik]

@Noob Account / OP

Both are over-priced scammy bullshit.

Do i have to start a web site and a foundation to get my point across ?
Or maybe make a few more accounts here to spam about it ?

@Zadicar
ETH is not an alternative to anything.
It is not a currency.. it's an APP's platform gimmick coin scheme for profit.
It was never intended to be an alternative to Bitcoin nor will it ever be.
If you can't see that i feel sorry for you.. because it's painfully obvious to anyone with half a brain.

[bbc.reporter]

There must be some people getting desperate with the zcash crash if they can come up with articles written like that. It is not really surprising if someone from the zcash group or maybe somebody close to the group paid that guy to write the article. Why did they not continue developing the project as an addon to bitcoin? Why clone bitcoind?

[jjacob]

The only connection between Zcash and Ethereum is that both are over-hyped, over-priced alts.
Zcash corrected quite quickly, while all of us are still waiting for ETH to discover its true value.

[cengsuwuei]

zcash can't same ethereum diference platform
and zcash community can't reach same in ethereum community
ethreum token, or dev can use ethereum technology create coin is big
zcash price is very high, so in develop community user zcash is very dificult

[shinratensei_]

It is not a currency.. it's an APP's platform gimmick coin scheme for profit.

ERC20 was becoming such gimmick scheme.
Make it for free and sell it for money. 

[gribble]

I think there are no mean because all of them are different, developer,price, comunity. They are just altcoins that unknowing what will happen in the future, the same between ethereum and ZCash they have alot of money for make pumping their coins, but unfortunately their money is limited, sometime the can become 1 sat.  

[twodrive01]

D you guys think ETH can add anon? When it does zcash wont be anything. Plus other anon tech is coming.  zcash is just one of what will be many anon projects.

[memequiserle]

zcash is deference ethereum
zcash can't big coin, because 20% result mining to have founder this very bad system and is very dificult can to get big coin