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Privacy Giants: Zcash vs Monero.

Privacy Giants: Zcash vs Monero.
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The thing about most cryptocurrencies is that they have transparent blockchains behind them. What this means is that data about every transaction is recorded and made accessible to anyone on the public ledger. With a little bit of effort, it’s practically easy for anyone to link wallet addresses to the individuals behind them through blockchain forensics. Under such conditions, it’s challenging for users on a blockchain to truly enjoy transaction privacy.

With that said, a few cryptocurrencies have decided to focus on privacy as their major goal. If you are familiar with privacy coins, then you most likely have come across both ZCash and Monero. Both of these coins attempt to solve the privacy problem associated with other blockchains. Today, we take a look at how each coin treats privacy, along with some differences between them. Let’s get started.

Privacy Giants: ZCash vs Monero.

Zcash vs Monero

Both Zcash and Monero are among the most popular privacy-centred coins in the market today. Here’s a little background information on each cryptocurrency.

Zcash vs Monero: What’s ZCash?

Zcash is a privacy-oriented cryptocurrency that was launched in 2016 in a bid to solve the privacy issues associated with Bitcoin at that time. It utilizes the zk-SNARK zero-knowledge proof technology to ensure that transactions on the Zcash network can be verified without revealing too much information. By default, transactions of Zcash don’t reveal the details of a transaction. However, there is an option to reveal this information for the sake of regulatory compliance or auditing.

Zcash (ZEC)

Zcash vs Monero: What’s Monero?

Monero’s origins can be traced back to Bytecoin, a privacy-centric cryptocurrency that was launched back in 2012. Monero was born two years later when the Bytecoin network was hard-forked. Monero’s primary goal was to offer an unprecedented level of privacy and decentralization such as there has never been before. It utilizes a complex cryptographic protocol that involves ring signatures and stealth addresses to hide the identity of users and transactions on the network.

Monero (XMR)

What’s the difference between ZEC and XMR?

Although both of these coins offer the same idea of enhanced security and privacy, they are significantly different in how they do it. Here are some of the differences between Zcash and Monero.

 

Zcash

Monero

Symbol/ Ticker

ZEC

XMR

Launch Date

28th October 2016

April 2014

Founders

Zooko Wilcox-O’Hearn

Nicolas van Saberhagen (or a group of people under this nickname)

Block Time

1 min 15 seconds

2 minutes

Block Reward

2.5

0.80

Price

$254.44

$243.16

Market Cap

$3,346,927,847

$4,391,479,125

Total Supply

13,154,331

18,034,752

Max Supply

21,000,000

Unlimited

What’s the difference between ZEC and XMR?Monero vs Zcash: Mining

In a real sense, it’s difficult to make the argument that Monero is better than Zcash or that Zcash is better than Monero. Both of these coins are ASIC-resistant, meaning you can mine them either using GPU or CPU hardware. Mining profitability depends on a number of factors such as hardware cost, price of the coin, and the current hashrate. Therefore, the best way to compare these coins’ mining profitability is by using a mining calculator. Here is a mining calculator for Zcash and Monero.

Why Should I Convert XMR to ZEC?

In the Monero network, all transactions are private by default. On the Zcash network, users have the ability to make transactions transparent. Therefore, you are free to choose for yourself which is awesome. Remember, privacy is a right! However, you’re still the one making decisions. Each crypto has its own pos and cons, and you should rely on your personal needs and goals when opting for any of these.

Why Should I Convert XMR to ZEC?

How to Exchange XMR to ZEC at the best rates?

In this section, we are going to show you how to exchange XMR to ZEC or vice-versa, using Swapzone. The process is fairly simple and won’t take up a lot of your time.

Step 1. Go to the official Swapzone website.

Step 2. In the homepage, you will see the “select pair” tab. 

Step 3. In the “send” section, input the amount of XMR you’d like to exchange for ZEC.l.

Step 4. In the “get up to” section, choose ZEC as the crypto that you want to receive. 

Step 5. Swapzone will then provide you with a list of exchange rate offers from several exchange partners. There is an option to filter out the results. Take your time and go through the different offers.

Step 6. Once you’ve narrowed down to an offer that you want, select it and click “exchange”. A new window will pop up requesting you to provide a few more additional details such as your wallet address and email address (optional).

Step 7. Once you are done, simply click “proceed to exchange” to continue onto the next step.

Step 8. This will trigger the transaction process to begin. Be a little patient as the process runs in the background.

Step 9. The exchange partner will process your transaction and you will receive ZEC in your wallet address. Simply take a moment to rate the exchange partner and rate the experience.

FAQ about exchanging XMR to ZEC

Why is Swapzone the best place to exchange Monero to Zcash?

Swapzone is the best place to exchange Monero to Zcash. For starters, you don’t need to register an account on Swapzone to use it. Simply enter your wallet address and the coins you wish to exchange and that’s it. Additionally, Swapzone provides you with a list of exchange rate offers from different exchange partners. Meaning, you only get to choose an offer that you want. Lastly, Swapzone is completely free to use without any hidden fees meaning you can start exchanging coins as soon as possible.

Why is Swapzone the best place to exchange Monero to Zcash?

Where to exchange XMR to ZEC?

In truth, there are many exchange platforms out there that can support XMR to ZEC cryptocurrency swaps. Unfortunately, a majority of these exchange platforms will require you to register an account on them. This is not something privacy fans would be excited about. Additionally, they will charge you hefty fees for every transaction. Therefore, to circumvent these challenges, we recommend that you try out Swapzone as your go-to exchange platform first.

Where to exchange XMR to ZEC?