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Zcash, a shielded transaction revealed

zcash - Zcash, a shielded transaction revealed

Le Privacy coin they are an increasingly popular phenomenon. The propensity to privacy of a large number of users, often resulting from the need to mask illegal operations, has given rise to a real race in this sense. Over time, Monero has participated in particular, Zcash e Dash, consider the virtual currencies capable of ensuring better performances from this point of view. Moreover, others are being added.
In this race, however, it occurred a fact that could clearly shift the fate of the current competition to Monero's side. Let's go see why.

Zcash, a shielded transaction surprisingly revealed

During the last weekend a shielded transaction carried out on the blockchain of Zcash was basically decoded, allowing to reveal and trace the starting address.
This is not a negligible event, considered how the Zcash working group publicly prides itself on being able to ensure the total anonymity for this kind of operation. To benefit from it could be above all Monero, with Riccardo Spagni not by chance among the first to react to the news pretending a dismay to be interpreted instead in the form of evident satisfaction.

Zcash: what happened

The offending event originated from a tweet dating back to a couple of weeks ago. The message, in fact, challenged to discover an address starting from a single $ 100 transaction carried out in ZEC, using the shielded mode proposed by its blockchain.
The challenge had an unexpected end, that is the identification of the data that instead had to remain hidden. At this point Wilcox Zooko, CEO of Zcash, has been able to do nothing but good face to bad game. By stating in practice one thing that had to be explained perhaps earlier: it is not possible to shield the whole history of an asset, in consideration of its registration, while the final balance of the transaction can be protected. A clarification that seems to open entirely new scenarios.

Monero benefits from it

From what has been said so far it seems quite clear that the supposed anonymity that would guarantee the transactions on Zcash is in fact a simple urban legend. Even if you decide to opt for shielded mode.
A fact intended to strengthen the reputation of Monero, who is instead able to guarantee anonymity by default. A reputation which, however, is not exactly positive. The token, in fact, is increasingly used by cyber criminals for their activities on the Dark Webor the part of the Internet where drug, weapon and human trafficking takes place.

The ransomware attack on Telecom Argentina

A fame that is increasingly consolidated, as evidenced by what happened in the past days, when Telecom Argentina has been subject to a ransomware attack. The ransom was asked for in XMR, thus highlighting a fact that seems increasingly evident: the anonymity made possible by Monero is making it a real tool for the criminal economy.
A feature which, in the long run, could turn against the token, removing users who do not intend to participate in such a dangerous game. A fact on which the development team of Monero should perhaps reflect, before giving life to the next moves.

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Dario Marchetti

I have a degree in Literature and Philosophy from the Sapienza University of Rome, with a thesis on the eastern border of Italy at the end of the First World War. I have collaborated with several sites on many issues and led the work group that published the official CD-Rom of the SS Lazio "History of a love" and "Photographic History of Magical Rome".

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