Zcash and Monero are the prominent cryptocurrencies in the crypto space, which has huge potential and most talked about. Zcash is a fork of the Bitcoin protocol, which attains privacy by using zk-SNARKS- a zero-knowledge privacy protocol. On the other hand, Monero works on a different crypto protocol called CryptoNote. Monero aims to maintain the privacy of the sender’s transaction and the receivers via ring signatures, stealth addresses, and confidential transactions.
Monero was created in 2014 and is a fork of Bytecoin. XMR’s protocol, CryptoNote functions by grouping many transactions. Monero uses Proof of Work (PoW) consensus algorithm to validate transactions, just like Bitcoin. Zcash was created in 2016 and is newer crypto as compared to Monero. Initially, the project was known as Zerocoin, which changed to ZeroCash system. Zcash is a fork of the Bitcoin codebase, and it is not private by default like Monero- the users must opt for their payments privately. For ZEC, till 2020, 30% of the block reward will go its investors and developers.
For Zcash, the transactions can be private based on what the sender wants- he can make it private or public. For Monero, it is private by default, the sender doesn’t have to choose it whether to make it public or private. This could help Zcash avoid some regulatory issues in the future. This question might arise in your mind- Is Zcash anonymous? Of course yes.
Monero has a block time of 2 minutes, i,e, new blocks are created every 2 minutes, hence is 5 times faster than that of Bitcoin, whose block time is 10 minutes. Monero has a dynamic block size limit, which means that the block grows or shrinks depending on the demand for the network.
Zcash, on the other hand, has a block time of 2 and a half minutes. It depends on how busy the network is. You must note that private transactions take up much more space than the public ones. Zcash price is lesser than that of Monero.
Monero got adopted mostly by dark web users, as it is much easier to use than Zcash. But later on, Zcash even got much exposure and its adoption rate has soared higher. Both of them seem to be getting a far better exposure as compared to the other cryptocurrencies. Once the Japan Financial Security Agency stated banning anonymous coins, which shook off the privacy coins community.
Monero has somehow tried to tackle its scalability issues with its dynamic block size limit. But Zcash wins over small fees as compared to Monero. But both of them are more scalable when compared to the best cryptocurrency in the world- Bitcoin. (Monero News)
Monero is the 12th largest cryptocurrency, currently trading at $67.84 with a market capitalization of $1,165,546,386 and a circulating supply of 17,181,938 XMR.
Zcash is the 28th largest cryptocurrency, currently trading at $44.78 with a market capitalization of $327,051632 and a circulating supply of 7,303,931 ZEC. (Zcash vs Monero 2019)
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2019-03-18 11:34:32.968612 | 2 min