Will BEAM replace ZCash?

[Abiky]

BEAM will be a new cryptocurrency launching on December 2018. It will be focused on privacy just like ZCash, with the difference that BEAM will use the Mimblewimble protocol instead. This won't require a trusted setup (unlike ZCash), which means that it might become as good as Monero over the long term.

However, ZCash will become trustless in the future with the planned ZK-STARKS privacy tech. As such, it'll only be a matter of time before the world's most popular privacy coins would compete against each other to become the top privacy coin in marketcap.

Nonetheless, do you think that Mimblewimble privacy coins (such as BEAM or Grin) would replace ZCash? If not, will they co-exist? What are your thoughts about this new cryptocurrency and privacy tech (Mimblewimble)?

[IgorShumilo]

In the near future, all coins that talk about their privacy and anonymity of transactions will have very big problems with the Regulatory Authorities. Already, the SEC has taken on a decentralized exchange, I think that soon it will come to anonymous cryptocurrencies. No government will allow ordinary people to send money anonymously somewhere, they need full control!

[CaMeRoNy]

In the near future, all coins that talk about their privacy and anonymity of transactions will have very big problems with the Regulatory Authorities. Already, the SEC has taken on a decentralized exchange, I think that soon it will come to anonymous cryptocurrencies. No government will allow ordinary people to send money anonymously somewhere, they need full control!

I agree, in the near future coins that have such characteristics as anonymity and decentralization will simply die out, as it will not play into the hands of large players who essentially rule this market.

[Iamlegit4sure]

BEAM will be a new cryptocurrency launching on December 2018. It will be focused on privacy just like ZCash, with the difference that BEAM will use the Mimblewimble protocol instead. This won't require a trusted setup (unlike ZCash), which means that it might become as good as Monero over the long term.

However, ZCash will become trustless in the future with the planned ZK-STARKS privacy tech. As such, it'll only be a matter of time before the world's most popular privacy coins would compete against each other to become the top privacy coin in marketcap.

Nonetheless, do you think that Mimblewimble privacy coins (such as BEAM or Grin) would replace ZCash? If not, will they co-exist? What are your thoughts about this new cryptocurrency and privacy tech (Mimblewimble)?

Considering that there are hundreds of privacy oriented coins, I don't think that we yet know which one will be successfull. Right now moenro seems to lead the way, but there are tons of new coins with more features than moenro, (deeponion, zcash etc...). The stage is to young to sya which coin will replace which coin. We just have to wait a couple of years before making real decisions. 2020 is the year, in my hopinion. It could even be one more year after that

[Alohadance]

I don't think so. Zcash is a very old coin on the crypto market. It would be too difficult to replace it from top. Zcash is now rarely used for secret transactions, I think it's just an usual coin.

[Abiky]

In the near future, all coins that talk about their privacy and anonymity of transactions will have very big problems with the Regulatory Authorities. Already, the SEC has taken on a decentralized exchange, I think that soon it will come to anonymous cryptocurrencies. No government will allow ordinary people to send money anonymously somewhere, they need full control!

Good point. If governments consider privacy coins as threats to their current economic system, they'll do whatever it is within their power to stop them. Right now, the US is partially friendly towards cryptocurrencies. However, if privacy coins become too much of a concern for the government (due to money laundering and terrorist financing), then they could become banned completely from the US. Other governments will follow, since they would need to enforce full control of their citizens.

If by any way, privacy coins become regulated by world governments, then they would continue to grow for years to come. Otherwise, you could expect for development and adoption of these type of cryptocurrencies to stale, while transparent cryptos like Bitcoin and Ethereum become widely accepted worldwide.

In the meantime, most privacy coins are still unregulated. This would give us the opportunity to invest into these types of cryptocurrencies and test their anonymity features while they last. Speaking of BEAM, it's a nice privacy coin that will implement a well-known privacy protocol known as Mimblewimble. While different privacy protocols have their own advantages/disadvantages, the Mimblewimble protocol looks to be among the strongest ones in existence. Since it doesn't require a trusted setup (unlike ZCash) it could rival ZEC if it becomes highly popular.

Nonetheless, I believe that it would be possible to determine if BEAM or Grin would replace ZCash right after their launch. Even if they don't replace it, they would be a nice alternative to other well-known privacy coins on the market today. Hence, it would be interesting to invest into either BEAM or Grin after launch as their prices could skyrocket leaving you with the opportunity to double or triple your investment. Just my opinion

[duuprathromil]

Should I keep to hold coins from mining?

[Bitmesh Official]

Beam has been listed on https://bitmesh.com/exchange?market=usdt_beam#/ already

[Abiky]

Beam has been listed on https://bitmesh.com/exchange?market=usdt_beam#/ already

Nice. It's good to know that BEAM is getting listed on exchanges at a fast pace, since it will allow easy access from investors into it. Still, BEAM isn't listed on Coinmarketcap, which means that not many people will be aware of the exchanges available for the same. Considering how new BEAM is, I believe that it's too early to say how proven its privacy technology would be in relation with Zcash's Zero Knowledge Proofs.

The battle among privacy coins will become fierce for sure, since there are many on the market today with unique features. Whichever proves to be the best in preserving user's privacy, shall become the leader among privacy coins. So far, Monero is the leader, but we cannot ignore other good privacy coins like BEAM and Zcash over the long term.

Therefore, BEAM may not replace Zcash but rather complement it, since it's good to have a diversity of privacy technologies that will help grow the blockchain industry over time. Just my thoughts

[Olatunjex]

In the near future, all coins that talk about their privacy and anonymity of transactions will have very big problems with the Regulatory Authorities. Already, the SEC has taken on a decentralized exchange, I think that soon it will come to anonymous cryptocurrencies. No government will allow ordinary people to send money anonymously somewhere, they need full control!

It sound like cryptocurrency will never be decentralized anonymity is the purpose of blockchain technology, with interference of government the purpose will never be accomplished. I think coin like this are needed, i will see how BEAM will try to replace zcash.

[Abiky]

It sound like cryptocurrency will never be decentralized anonymity is the purpose of blockchain technology, with interference of government the purpose will never be accomplished. I think coin like this are needed, i will see how BEAM will try to replace zcash.

That's certainly true, mate. The purpose of anonymous cryptocurrencies such as BEAM or Zcash, will be questioned as governments start to interfere with them. We all know that the government is good at surveillance, which means that it'll do whatever it's on its power to stop privacy coins from gaining full mainstream adoption. It's unfortunate, but the reality. In terms of technology, I'd say that both BEAM and Zcash are very promising.

While the concepts of Mimblewimble and Zero Knowledge Proofs are distinct from one another, cryptocurrencies can learn from them to help improve their privacy over time. Of course, anonymity may only be a dream, given how oppressive governments have been against people's privacy. However, the perception would change if they would allow anonymous cryptocurrencies to flourish. Nonetheless, since BEAM is new to crypto land, it may take a couple of years from now before we could determine if it's strong enough (if it ever does) to replace Zcash in the future. Just my opinion

[Stella_btc]

Zcash is a decentralized and open source crypto coin. This coin offers a high level of privacy and transaction transparency. As a new altcoin, Zcash is published with public blockchain. But the recipient, the delivery and the number of transactions will remain private.
It is good to hold Zcash for a long time and sell to buy btc, when the price increases. Zcash keeps on getting more popular and the progress of Zcash over Bitcoin can be seen directly from the zec to btc graph.

Zcash is currently quite warmly discussed in the atmosphere of the cryptocurrency industry which is full of speculation. In short, Zcash is an asset payment value where all sender names, recipient names and the entire transaction value are kept secret from the blockchain automatically. Only someone who has the "key" can only see the contents of the transaction content.

[Abiky]

Zcash is a decentralized and open source crypto coin. This coin offers a high level of privacy and transaction transparency. As a new altcoin, Zcash is published with public blockchain. But the recipient, the delivery and the number of transactions will remain private.
It is good to hold Zcash for a long time and sell to buy btc, when the price increases. Zcash keeps on getting more popular and the progress of Zcash over Bitcoin can be seen directly from the zec to btc graph.

Zcash is currently quite warmly discussed in the atmosphere of the cryptocurrency industry which is full of speculation. In short, Zcash is an asset payment value where all sender names, recipient names and the entire transaction value are kept secret from the blockchain automatically. Only someone who has the "key" can only see the contents of the transaction content.

Zcash has its own approach for privacy, the same way Monero and Dash does. However, I believe that BEAM and Grin's mimblewimble privacy tech is far superior than other anonymous cryptocurrencies, because of the lack of addresses among them. Despite this, the technology is new and starting to emerge on the crypto market. Both BEAM and Grin would need time for growth before they could be comparable to the likes of well-established cryptocurrencies like ZEC, XMR, and Dash.

In the end, I guess that it's a matter of preference whenever someone wants to use one privacy coin from another. But in order to determine which privacy coin is truly private, one needs to perform a research on their privacy solutions.

Nonetheless, there's a possibility that both BEAM and Zcash will live alongside each other for years to come. Just my opinion