NSA Popular whistleblower Edward Snowden has come out to support Zcash, a privacy-oriented cryptocurrency, terming it the most interesting altcoin.
NSA Popular whistleblower Edward Snowden has come out strongly to support Zcash, a privacy-oriented cryptocurrency, terming it the most interesting bitcoin alternative. Snowden, a former US intelligence contractor is currently the president of the Freedom of the Press. He shared his thoughts when writing in response to a tweet posted by technologist Mason Borda. According to Mason, Zcash is the only altcoin that’s designed and built by both academic and professional cryptographers which is very hard to ignore. Snowden then replied that he is in agreement with the statement.
He also shared his own thoughts about cryptocurrency by stating that Zcash’s privacy currently makes it one of the most interesting alternatives to bitcoin. According to him, while bitcoin is great, if it’s not private then it means it’s not safe. Snowden is not only popular for his huge leak of classified NSA documents in 2013 but also a prominent privacy advocate. When asked about what he thinks about Monero – another competing cryptocurrency, he replied that it’s an amateur crypto because it has traceability issues within the tech world. He further noted that the problems with amateur cryptos such as Monero is because mistakes may happen that have a huge impact on users. On the other hand, Zcash was developed by professional cryptographers hence its technology is truly secure.
These statements added to the current rivalry between cryptocurrencies. In the resulting responses on twitter, Monero developer Richard Spagni came out strongly to defend his project. The creator of Litecoin, Charlie Lee also stated that he owns Monero and not Zcash. Monero and Zcash are basically aimed towards ensuring that users have privacy. Although they use different tools they aim to achieve the same result at the end. While Monero works by obfuscating information with stealth addresses and ring signatures, Zcash is based on an operation called zk-snarks. Currently trading at $297, Zcash is the 14th largest cryptocurrency. This is according to the total market cap.
Image Credits: Gage Skidmore