Viewing the world of confidential cryptocurrency: Moneto vs. Zcash
In recent years, the world of cryptocurrencies has exponed to exponentially, with new players entering the market every day. Among them, two remarkable cryptocurrencies have gained considerable attention to privacy and safety: Moneto (XMR) and ZCASH (ZEC). Both digital currencies prefer confidentiality, allowing users to perform transactions without revealing their identities or transactions data to third parties. In this article, we dive deeper into the world of confidential cryptocurrency and examine Monero vs. Zcash, its differences, benefits and cases of use.
What are confident cryptocurrencies?
Confidential cryptocurrencies are designed to provide users with a safe transaction environment without being traced or audited by third parties. This is achieved by various cryptographic techniques, such as the signatures of the circle and tests of zero knowledge that allow the processing of anonymous transactions.
Monero (XMR)
Monet is a decentralized cryptocurrency that uses circular signatures to protect transactions. Its exclusive algorithm allows users to make anonymous payments by creating a pseudonym « address » that can be publicly shared or maintained confidential. The Monet consensus mechanism, called a rope, ensures the integrity and safety of the transactions and checks the consignor and recipient’s identities through digital signatures.
The benefits of Moneto include:
* Anonymous : Moneto allows users to create anonymous wallets and perform transactions without revealing their identity.
* Security : Signature Algorithm provides additional security layer, making it difficult to track or transaction of third -party audit.
* Low transaction rates : Monet rates are relatively low compared to other cryptomes.
zcash (ZEC)
Zcash is another decentralized cryptocurrency that uses zero knowledge to protect transactions. Its consensual mechanism, called a rope, allows users to create a pseudonym wallet and perform transactions without revealing their identities or transactions data to third parties.
The benefits of Zcash are:
* Security : Zero management algorithm ensures the safety of transactions, making it difficult to find the harmful actor audit or monitoring transactions.
* Low transaction rates : Like Monet, zcash rates are relatively low compared to other cryptomes.
Comparison and Differences
Although Monero and Zcash prefer anonymity and safety, there are important differences between the two cryptocurrencies:
* Transaction rate : As mentioned, Zcash has lower transaction rates compared to Monet. However, this advantage is compensated for a slightly longer block (about 6 minutes compared to about 2.5 minutes for Monet).
* Consensation Mechanism : The cable used by Moneto provides another safety layer through a circular signature algorithm, while the ZCash consensus mechanism is easier and depends on the date of the transaction and timeline.
* User interface : Monet user interface is usually considered more complicated, with a sharper learning curve. On the other hand, ZCASH interface is more intuitive and easier to use.
Use Cases
Both Monero and Zcash have cases of exclusive use:
* Monero : Used for decentralized financial applications (Defi) such as credit and stable platforms. Anonymity and security features of Moneting make an attractive choice for these types of applications.
* Zcash : It is often used in private networks and decentralized systems where full disclosure is not required.
Conclusion
Finally, Monero and Zcash are two remarkable confidential cryptocurrencies that offer different benefits and benefits.