Zcash can literally wipe out your coins if their system breaks.
#Bitcoin doesn’t have a kill switch.
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Discussion
Sounds like ZKSNARKS aren't as foolproof as advertised
The problem is that the cryptography and system is incredibly complex. The Electric Coin Company previously found a vulnerability that would allow undetectable counterfeiting. The kept it secret internally while they developed and deployed a patch.
I think they're continously haunted by this episode and that's why they're devising countermeasures for future potential vulnerabilities.
The bottom line issue here is that this exposes the risk of control by a centralized organization.
To be fair, even Bitcoin had a similar bug and similar patch in its early days.
You spelled Ztrash wrong. 🧐
No coin will be better than Bitcoin as a store of value and medium of exchange, and this is a prime example
lost me at Zcash company lol
This is equivalent to Ubisoft requiring you to always be connected to the internet, even to play offline.
I stopped reading after "the Zcash company"
It's all software at the end of the day.
Bitcoin can wipe coins too, that's how the billions created with the inflation bug were disposed of.
So, even though it's transparent, it was actually Bitcoin that broke once, not Monero or Zcash.
Yikes.
#Monero fixes this