Edward Snowden, is an American technology consultant, an informant in the global surveillance network and a former employee of the CIA and the NSA.
This time he talks about the Cryptocurrency Zcash and his anonymity.
Snowden and Zcash, the Bitcoin alternative
In June 2013, Snowden released the Guardian and The Washington Post papers classified as top secret on several NSA programs, including mass surveillance programs PRISM and XKeyscore.
The world-famous defender of user data security and anonymity talks about digital coins and this time he thinks about Zcash. Edward Snowden has come out in support of privacy-oriented cryptocurrency Zcash, calling it “the most interesting alternative” to Bitcoin.
“Zcash is the only altcoin (I know) designed and built by professional and academic cryptographers. Hard to ignore,” responding to a tweet from a techie, Mason Borda.
He continued: “Zcash’s privacy technology makes Bitcoin’s most interesting Bitcoin alternative, but” if it’s not private, it’s not safe. ”
Zcash is based on a cryptographic operation called zk-snarks, Monero works by hiding the information with ring signatures and covert addresses.
Hide information yes and no
Bitcoin is not, in fact, an anonymous currency, blockchain tracking software can often be used by law enforcement to help them establish the identity of individual wallet holders. Privacy-conscious users can use services such as cryptographic screens to mask transactions, but these services often charge a fee and many occasional users are unaware of their existence. Activation of Segregated Witness (SegWit) is expected to allow developers to add more privacy features to the bitcoin ecosystem, but this process could take some time.
Snowden warns of crypto surveillance
Snowden’s comments resonate with what he has done in the past. In 2015, he stated in an interview that “Bitcoin by itself is defective,” citing concerns about the ability to directly link addresses to a person’s identity, as well as the perceived threat of 51% attacks. Last year, he apparently mentioned Zcash as a “solution to Bitcoin’s surveillance risks” during a video conference, according to Zcash founder Zooko.
Security is becoming increasingly important and privacy is the biggest challenge. Zcash works on these aspects and Monero on reducing transactional visibility. Komodo is already working on what can be the largest secure, private, anonymous and secret cryptocurrency if that is what we want.
Bitcoin is still very young and evolves consistently to the needs of the people. The good opinion of Snowden towards Zcash shows that its use will soon be extended.
We live in a permanently watched society, whether we like it or not, there are mechanisms that make it possible. Bitcoin does not escape being the first to be watched.
Will the crypto private coins be the new trend of use? If so, we would enter another era, the age of private crypts.