Clash for privacy

Monero

Monero uses a different protocol than Bitcoin. It's called CryptoNote. This protocol works by grouping many transactions. This makes it impossible to determine which input (sender) each transaction belongs to. If you've ever heard of the Bitcoin mixer service, it works pretty much the same way. Monero operates on a proof of work consensus, which means that it requires the use of huge amounts of computational power to update the Monero blockchain. The creation of one block in the Monero blockchain takes two minutes. This means that new blocks are created every two minutes. This allows it to transact about five times faster than Bitcoin. Monero has a dynamic block size limit, meaning the blocks grow and shrink in response to the demand for the network. The size of each block is based on the previous 100 blocks. This means if the network is processing many transactions, the block size will slowly increase giving the network greater capacity. Monero became more popular on the dark web than Zcash.

Zcash

Zcash s a fork of the Bitcoin codebase. This means that it’s much more like Bitcoin than Monero. One of the amendments that the Zcash team made to the Bitcoin codebase was the addition of zero knowledge proofs called zk SNARKS. This is how privacy is ensured for those transacting with Zcash. Briefly, these zk SNARKS can be used to conceal sending and receiving addresses, as well as the amount transacted. This coin is not private by default, users must opt to send their payments privately. They can also send public payments. Regarding blockchain speed, Zcash has a block time of around two and a half minutes,this makes it around four times faster than Bitcoin but a little bit slower than Monero.

Zcash has proven to be fairly controversial amongst experts. Some, such as Edward Snowden, have argued that Zcash is important because it is one of the few privacy coins developed by actual cryptographers. Snowden has claimed that Zcash is safer to use than Monero. Greg Slepak, in the opposite, undermined the utility of Zcash.

Why do we need privacy in crypto ?

In the contemporary world, it seems odd and unfair that a person in some parts of the world is not allowed to buy a prohibited remedy only because of the defined boundaries. Privacy coins allow people to access these substances without having to personally meet potentially dangerous people. They protect the confidentiality of the buyer, this makes them a safe purchase solution on the market. Privacy coins allow paying for services that enable illegal acts. This could be malicious, as in software for use by hackers. It could also be non malicious. Usage of anonymous currencies include using gambling services in areas where they are prohibited by law. Privacy coins make it so that no one can tell if a unit of either currency has been used illegally, thus vendors simply can not reject the payment if the funds have been used illegally in the past.