Zcash has the best cryptographers and security engineers in the world focused on it 24/7, auditing and battle testing it.
In this instance within hours of the latest model dropping they used it to find a bug.
A bit worried for the rest of crypto, which doesn’t have the same type of talent auditing it as rigorously.
Zcash has unparalleled cryptographers, security engineers, and security researchers. And the community is heavily focused on continuous improvement and hardening the network. That's why it engages world class security researchers to look for bugs. And that's why the recent potential exploit was found. It wasn't by accident and it's a vote of confidence, not a cause for alarm. When it comes to any L1, there will be bugs. What's important is that there are world class researchers focused on hardening the network and staying ahead of the bad guys. This has always been and always will be the dynamic of building software that is secure. Onward.
@deepcandles Bitcoin fails the Finney Test.
The Finney Test: “If you see a proposal for an electronic money, check to see whether it has the ability to preserve the privacy of financial transactions the way paper money does today.”
I'm not technical and relatively new to Zodl / Zcash.
Here's how I'm thinking about it.
You are either getting generational prices or privacy in crypto will never work. Some things to consider:
1) Multiple zcash organizations are working on a way to support the accounting of the shielded pool. Proving no exploit.
2) If you thought privacy could be replicated on another network, it's time rethink that assumption.
3) Zcash will be stronger than ever once this is sorted.
Personally, I trust the team to figure out a path forward. They haven't given me a reason not to.
Short term noise for long term sustainability.
Wallah if I had the ZEC exploit I would've ran it up and pulled a Malone.
I'm talking ZachXBT getting shadowplay recordings of my computer with the exploit running and Discord screenshare of niggaz squealing in the background.
I'm talking bookmarked webpages of DESIGNER CLOTHES just so I can walk out FRESH AS FUCK and STUNT on niggaz with my limited edition LV jacket.
I'm talking buying Birkin bags for random OF bitches on a night out because it ain't shit to a nigga like me.
I'm talking a FLEET OF HYPERCARS with some gay shit like "3XPL01TTTT" sprayed on the side on each of them.
I'm talking bottle service with waiters holding up, "ZCASH PAID 4 THIS" so I can flash it on the gram + snap and have niggaz with one word usernames comment "cold 🥶"
I'm talking hitting up WatchKing69 for BULK ORDERS on BUSTDOWNS so I circle around with my homies and pour champagne on my tiny wrist and watch.
I'm talking paying niggaz to hack my favourite rappers and LEAK ME UNRELEASED SONGS so I can play it in my Rolls-Royce La Rose Noire Droptail and sip lean coz #LifeIsPain nigga.
Man, the shit I could've done with that exploit.
FUCK.
~ Dr. Axius.
There's a path where ZEC pumps so hard on the "quantum resistant" narrative that its outperformance relative to BTC could lead the BTC community to take quantum more seriously
So a ZEC pump precedes a future BTC pump