What is the difference between Monero and Zcash?

Question

Monero and Zcash are both privacy-focused cryptocurrencies, but they use different technologies to achieve privacy.

Monero uses a technology called "Ring Signatures" and "Stealth Addresses" to obfuscate the sender, receiver, and transaction amount in each transaction. This makes it difficult to trace the transaction details.

Zcash, on the other hand, uses a technology called "zk-SNARKs" (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge) which allows for completely shielded transactions where all transaction details are encrypted. Users have the option to send transparent transactions as well, where the details are visible on the blockchain.

In summary, Monero focuses on privacy through obfuscation techniques, while Zcash offers both transparent and shielded transactions using zk-SNARKs.

Answer 1

The main difference between Monero and Zcash lies in the technology they use to achieve privacy. Monero utilizes Ring Signatures and Stealth Addresses to obfuscate transaction details, while Zcash uses zk-SNARKs to enable shielded transactions where all details are encrypted. Monero focuses on obfuscation techniques for privacy, while Zcash offers both transparent and shielded transactions with zk-SNARKs.

Answer 2

The main difference between Monero and Zcash lies in the technologies they use to achieve privacy in transactions. Monero relies on "Ring Signatures" and "Stealth Addresses" to obscure transaction details, making it difficult to trace. On the other hand, Zcash utilizes "zk-SNARKs" which allows for fully encrypted transactions, but also provides the option for transparent transactions where details are visible on the blockchain. In essence, Monero focuses on privacy through obfuscation, while Zcash offers a choice between transparent and shielded transactions using zk-SNARKs.