Following Bloomberg’s top ETF specialist’s comments that Zcash (ZEC) has “third party candidate vibes”, other prominent crypto figures chimed in to offer their take on the rise of quantum-resistant crypto tokens. Moreover, Mr. Balchunas names Zcash (ZEC) as a main threat towards Bitcoin’s (BTC) dominance for a few simple reasons.
Traders Shifting From BTC Towards Shielded ZEC Bags?
Firstly, the promotion of a single privacy coin in the wake of Bitcoin’s (BTC) institutional & legal success could “split the vote” among Bitcoin’s Maxis. This had already happened with Zcash’s (ZEC) creation, as this privacy blockchain was originally intended to be a Bitcoin PoW chain add-on, but the initial developer team rejected the idea.
Now, the picture is totally different: ZEC’s market price doubled up in less than 30 days, while Wall Street’s big boys like VanEck are explicitly stating that institutional investors are looking into quantum-resistant altcoins like Zcash (ZEC) due to the Bitcoin OGs having traceability concerns as BTC becomes a highly-regulated digital currency.
1,008% ZEC Price Upswing Doesn’t Convince Everyone
However, other prominent crypto industry figures like Arman Meguerian, the founder and CEO of Timestamp, beg to differ. “I don’t know a single Bitcoin Maxi that thinks about Zcash at all”, – he declared. Many others believe if Zcash (ZEC) indeed solves the missing blockchain privacy tech part that Bitcoin is lacking, the price appreciation should come along with it.
Right now, ZEC’s price skyrocketed by 1,008% in yearly terms, but the current $500 price range is a far cry from this privacy coin’s all-time high (ATH) of $3,193, hit over 9 years ago. Sporting identical figures in terms of max supply to Bitcoin (BTC), the ZEC’s shielded transactions use zk-SNARKs, defending the network from any known quantum computer risks.
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People Also Ask:
Quantum machines will run Shor’s algorithm and crack Bitcoin’s elliptic-curve keys in minutes. If anyone ever saw your public address, they steal your coins forever. Same fate hits ETH, DOGE, most alts.
Zcash deploys zk-SNARKs for shielded transactions. These proofs rely on math that laughs at Shor’s algorithm. Quantum computers can’t reverse-engineer shielded ZEC keys, period. Your bags stay locked even in 2035.
Nope. Zcash built quantum resistance in from day one. Bitcoin and Ethereum will scramble for messy upgrades and force everyone to move funds. ZEC holders just sit back and sip coffee.
Exactly. Zcash delivers full privacy (sender, receiver, amount hidden) AND quantum armor today. No other TOP 20 altcoin nails both at once. Monero has privacy but zero quantum protection. Bitcoin (BTC) currently has neither.
100%. When the quantum FUD finally explodes, people will realize old BTC/ETH wallets are free candy for future quantum thieves. Meanwhile ZEC shielded pools stay untouchable. VanEck’s CEO just confirmed the quiet pivot is already happening.
