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ZCash VS Monero: Which Privacy Coin To Use?

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ZCash vs Monero

While Bitcoin and numerous altcoins are praised to be secure and capable of providing safe, private transactions, this is not completely true. Most of these coins are only partially private, and the same goes for their transactions. This is due to the fact that most cryptos promote transparency, which can be achieved through blockchain technology, and eliminate issues like smuggling, corruption, and alike.

However, on the internet, there is always the need for true privacy and anonymity, and so privacy coins came to be. Privacy coins can hide all details regarding the users’ transactions completely, including their identity. Because of this, the skeptics often try to undermine them by claiming that such coins are only good for criminals who pay for drugs and other illegal goods and services on the dark web.

While it is true that anonymity allows this possibility, this is certainly not all that they are good for. In fact, they have quite a widespread use in the modern world, especially when it comes to businesses that wish to keep their secrets hidden.

Now, with all of this in mind, users looking into privacy coins may wonder which one to choose? Upon research, numerous altcoins might pop up, but choosing the right one is all that matters. Since Monero and ZCash are among the coins with most supporters, we have decided to compare them and try to determine which one is better.

ZCash vs Monero

Monero (XMR) is a privacy coin that was launched back in 2014, as a fork of Bytecoin. ZCash (ZEC), on the other hand, is a younger coin from October 2016. It was created by highly skilled and experienced cryptographers and scientists. Both coins quickly became popular due to high levels of anonymity and privacy that they provided, and ZCash vs Monero rivalry has existed ever since.

Monero’s process sees each transaction split and/or divided into smaller bits of information and then sent to a specific destination via numerous artificial nodes. While this sounds like a pretty secure method of sending payments anonymously, there are some rumors that claim that the transactions can still be traced.

Zcash, on the other hand, seems to be more privacy-oriented than any other coin. Its ledger doesn’t hold data about senders or receivers, and instead, it only has information about the time when the transaction was made. Basically, no transaction carries any public address information with it, which makes ZCash almost entirely anonymous and secure.

Despite the rumors, Monero still remains highly popular. A lot of people wishing for private transactions have adopted the coin, and its community continues to grow. ZCash’s use of zk-SNARKS protocol makes the transaction untraceable through regular means. However, many believe that digging deeper can allow IP address tracking, which can then be compared with the time of the transactions, and connected to a specific payment. While this seems to be an issue at first, the use of VPNs or anonymous browsers like Tor can easily handle this issue.

Obviously, both coins are created to be used as currencies. This makes them different from other cryptos that have larger goals in mind, where their coins are to serve as a means of payment for their respective networks. Both are quite fast too, although Monero was reported to be slightly faster.

Both are also pretty popular, although ZCash is more economical due to exceptionally low fees. Monero fees are not exactly huge, but they are definitely larger, which is one of the only aspects that makes it slightly easier to make a choice when comparing ZCash vs Monero.

Both also have quite professional and capable teams, although the Monero team likes to keep their secrets, while ZCash’s team is more open. As such, ZCash can often be favored by new investors that develop a larger trust in the coin and its developers.

In the end, the choice in the ZCash vs Monero rivalry falls upon the user. Both coins are more than good and capable of providing private transactions, although the use of additional privacy tools is never a bad thing.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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3 Reasons Why Liquidity Dividends Protocol (LID) Will Be a Huge Winner

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Liquidity Dividends Protocol

Since 2017, cryptocurrency has experienced both the crazy highs and the crazy lows with fortunes being made and lost overnight.  That volatility is one of the main reasons why cryptocurrency has been relatively slow to gain mass adoption.  In addition to volatility, another concern for many is the lack of security and regulation in the market.  This can be seen through the countless exchange hacks and rug pulls that seem to occur on a weekly basis.  In order for cryptocurrency to move into the next stage of maturity and bring on mass adoption, investors and users will need to feel secure knowing that their funds are safe.  One promising organization that may have the perfect solution is Liquidity Dividends Protocol (LID).

What is Liquidity Dividends Protocol?

Liquidity Dividends Protocol is an up and coming organization that provides locked liquidity services to cryptocurrency projects that launch their offerings through ERC-20 tokens.  It lets non-custodial pre-sales lock liquidity of a token in a trustless manner through Uniswap.  This locking process will prevent every investor’s worst nightmare of seeing their hard-earned money disappear through “rug pull” scams that are designed to remove liquidity out of DeFi projects.

This year has seen an explosion of interest in Uniswap and DeFi projects.  Many investors have generated enormous returns on investments, but many have experienced the pain of being duped.  Below are three reasons why LID Protocol is poised to be a massive winner in…

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