Mr. Edward Snowden had an interview with Peter Van Valkenburgh, the Director of Research at Coin Center. During this interview he reported Bitcoin’s public ledger to be “devastatingly public”, indicating that being a public ledger in itself is a most significant flaw for Bitcoin. In 2013, he has used Bitcoin to make a purchase of server infrastructure.
Though Snowden comments are not so positive about Bitcoin, his view differs for Zcash and Monero, the two cryptocurrencies which continues to be his favorite. Snowden had expressed that Zcash for him is the most interesting currency right now. It is due to the fact that its privacy properties are truly unique. More and more projects are trying to follow this, which certainly is a positive sign.
Zcash marks as the first open cryptocurrency with a capability to completely safeguard the privacy of deals. This is done with the application of zero-knowledge cryptography.
Zcash is an open-source and decentralized cryptocurrency that offers robust and reliable privacy protections. Protected transactions conceal the sender, recipient and the blockchain amount. Zcash showcases total payment confidentiality, while still keeping a decentralized network based on a public blockchain platform. Bitcoin transaction don’t hide the details while Zcash transactions automatically cover the recipient, sender and transaction value details.
Another cryptocurrency used by Snowden is Monero, which is identified for being one of the leading privacy coins. It is a good option for those who look to have multiple layers of anonymity while making use of cryptocurrencies. Monero has been in market for many years and has shown to be much more resilient as against other peers.
Bitcoin was once considered as the most anonymous means to pay for transactions on the internet. However, lately it has condemned as a tool for funding terrorists and money-laundering, which has made it a problem cryptocurrency for many participants.