Partner of Placeholder: The retrogression of the concept of privacy and the reasons for choosing Zcash

Original title: "Zcash-Thesis"

Original source: Placeholder

Original compilation: 0x26

Before the introduction and praise of Zcash by Placeholder, you may wish to briefly introduce the founding partners and investment portfolio of this fund.

Joel Monegro used to work in Union Square Ventures (USV), block Lianhe's most famous investment bible "Fat Protocol" was written by him, which can be said to have influenced the investment outlook of the entire cryptocurrency investment institution.

Joel Monegro

Chris Burniske previously served as Next Generation at ARK Investment Fund The person in charge of Internet strategy, led the institution to become the first public fund to invest in Bitcoin, and then turned to the field of cryptocurrency with all his strength. He often acts as a guest commentator in well-known media such as CNBC, Wall Street Journal, New York Times and Forbes Magazine. In 2017, it was well-known for improving and promoting the "NVT (Network Value to Transaction) Ratio" proposed by Willy Woo. In 2019, it proposed the "NVTV (Network Value to Token Value) Ratio" for smart contract valuation.

Chris Burniske< /blockquote>

 

On its official website, the fund's investment portfolio is listed. It includes not only mainstream digital assets such as Bitcoin, Ethereum and Polkadot, but also privacy coins such as Zcash. There are also many layouts in the DeFi field, such as MakerDAO, synthetic asset platform UMA, and decentralized insurance NXM.     

 

Current Placeholder Investment Portfolio

The following is the original text

Note: Placeholder holds Zcash (ZEC).

A lot of people in crypto circles today have a backwards view on privacy: they are not securing their assets Privacy, but mistakenly focus on the privacy of the transaction transfer process. This is why we see a lot of people using mixers or coin-tumblers, but the ultimate purpose is just to transfer tokens to another transparent and traceable address, which undoubtedly destroys the existence of coin-tumblers. part of the meaning. Zooko Wilcox, a core contributing member of the Zcash community, expressed the following confusion:

“If you want to protect privacy, you must Your crypto assets are kept in a private encrypted system. It can then be safely transferred through a transparent system! But unfortunately, almost everyone is doing the opposite. ”

In the world we imagine, a large number of private assets are stored on Zcash, integrated into the in a dynamic digital economy. Through the private store of value represented by ZEC (Zcash's native token), people can securely transact in an open economy. It is now possible to integrate Zcash into the Ethereum network through the Ren Protocol. We appreciate this implementation, but this is just the beginning. Like Zcash Developers Alliance are working hard to make the vision of combining interactivity and privacy from Zcash a reality. Apparently, Vitalik has aware of such a possibility .

The privacy of protecting the value of private assets has long been woven into the fabric of our society: Discuss with strangers The value of one's own house, stock holdings, and annual salary are not common things. the reason is simple. Once someone knows these things, even if the information has nothing to do with your relationship, it may cause them to treat you differently. The simple act of observing changes this interpersonal relationship.

We can see this phenomenon extending all the way to the quantum realm. On the quantum scale, when a particle passes through two slits, it is not actively observed, it behaves like a wave, and when observed, the particle collapses into a single point, (Rhythm note, It is the double slit experiment, the quantum fund established by the speculator Soros and the reflexive Sexual theory is relevant to it). Observers alter the behavior of participants, even down to the quantum scale. Therefore, without privacy, there is no sovereignty.

Privacy is important for maintaining the relationship between individuals, and it is also important for the relationship between individuals and countries. What is (subjectively) evil can be defined in terms of who can take your life, liberty or property without reason. Too bad if you don't agree with authority but don't have privacy. If you disagree with authority, but have privacy behind you, then you can better preserve your life, liberty, and property. A major point is to ensure the privacy of personal assets and thus the privacy of personal actions so that we protect ourselves from some dystopian outcome regardless of the current situation. If 2020 has taught us anything, it's how quickly societies can sprint toward dystopian outcomes.

Why Zcash can bring us privacy?

The crypto community most capable of bringing privacy to the masses is Zcash. The engineers behind this work collectively have more than 200 years of experience in cryptography, making them older than many cryptographic teams. The most famous member of the Zcash community and the CEO of the Electric Coin Company (ECC), dropped out of college in the early 1990s to join cryptography legend David Chaum's digital currency initiative , which made them nearly miss the integration with Netscape in 1994. It's been almost 30 years now, and while Zooko has grown some gray hairs in the interim, he and Zcash's seasoned mathematicians and wizard-like community have enough background, talent, and network , so they won investment from Placeholder to become the privacy team dealing with financial privacy in the information age.

Speculators will tell you that privacy technologies are similar, and privacy is just a feature that every chain will have . Saying things like this might help their personal quest, but it's dangerously misleading for society. In the realm of privacy, it doesn't get much more outrageous than that. For privacy to be worthwhile, it requires an airtight solution, not one that basically works. Privacy solutions that "mostly work" simply don't work. Furthermore, privacy through encryption is a game of cat and mouse with decryptors. In order to guarantee the reliability of the privacy network, people must trust that the talents hidden behind the network will always be ahead of the decryption curve.

From its inception until now, Zcash has been at the forefront of privacy. When Zcash was released in October 2016, it was the first practical implementation of the zero-knowledge proof ZK-Snarks technology. In May 2014, a group of rock-and-roll cryptography professors published a paper exploring the potential of zksnarks to be implemented in bitcoin-like currencies. To help productize and bring this vision to the real world, they chose Zooko as lead to get there because of his hands-on experience and credibility in the cryptography community (he once communicated with Satoshi Nakamoto!), and correct values.

Although Zcash was inspired in part by Bitcoin, the community was never content with "Privacy Bitcoin Instead, they recognized other core flaws in Bitcoin’s design and worked to create a more sustainable system. In Bitcoin, for example, a community of companies cobbles together enough core developers to keep Bitcoin running, but the protocol itself only pays hardware contribution (miner) benefits. Zcash, on the other hand, pays for hardware contributions (80% of the ZEC supply goes to miners) and software contributions (20% of the supply).

In terms of fund allocation, 7% of the new ZEC will be used to support the development of ECC, including the development of zcashd (based on c ++ protocol implementation), user-friendly wallet, market growth and legal regulation; 5% will be used to support the development of the Zcash Foundation, including the development of zebra (a Rust-based protocol implementation); 8% will be allocated by a committee elected by the community, The committee will fund to help ECC and ZF to make up for the deficiencies.

Zcash has attracted attention over the years for innovations in governance, largely due to the waning influence of Bitcoin Extremist hype. But in our experience working with 20+ projects, and their experiments with cryptoeconomic governance, few teams are taking their governance network more seriously than Zcash. This is because Zcash understands the seriousness of providing sovereign financial privacy to all citizens of the planet. Consider the following comment from ECC Director of Growth Josh Swihart:

“Failure is not an option for us. Hundreds of millions to hundreds of millions Billion dollar interests are at stake. People's privacy (and what it means to those people) is at stake. Our collective access to private, censorship-resistant, digital cash in the future is at stake.

What is the cost of building and supporting this privacy-preserving global currency? According to all my data, this cost is higher than the ECC expenditure Much more. We can tell you what we think is a reasonable number, but it's up to you whether you believe it's worth it. For me personally, it's taken up nearly every waking moment of my life. The cause is worth it ."

At the same time, like Crypto in Context Efforts like this showcase the Zcash community's willingness to communicate and take action with the less educated community in order to help elevate their financial knowledge to help these communities better understand what they need to make cryptocurrencies a real and effective tool.

It is not only technology that attracts us to Zcash, but also a sense of responsibility and commitment to social causes, as well as a successful long-term plan. Because in this case, providing privacy and economic freedom for us all cannot fail.

Original link

Reference materials :

《Venture Capital Placeholder Blockchain values, understand? 》

《Reread "Fat Protocol" , why the domestic blockchain team went in the wrong direction》

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