NSA whistleblower Edward Snowden, who leaked National Security Agency (NSA) documents that revealed the agency was spying on citizens who weren’t the subject of active investigations, recently stated that anonymity-centric cryptocurrency Zcash is the “most interesting bitcoin alternative.”
Snowden’s thoughts were shared on Twitter, in response to a tweet from technologist Mason Borda, who stated that Zcash was the only altcoin he knew designed and built by professional academic cryptographers, adding that it was hard to ignore.
The former Central Intelligence Agency (CIA) employee agreed with Mason Borda, and added that the cryptocurrency was the “most interesting bitcoin alternative.”
Agree. Zcash’s privacy tech makes it the most interesting Bitcoin alternative. Bitcoin is great, but “if it’s not private, it’s not safe.” https://t.co/HqwQOvSCiz
— Edward Snowden (@Snowden) September 28, 2017
As Snowden pointed out bitcoin isn’t a completely anonymous currency, as blockchain tracing software can be used to connect a specific wallet to an individual, and even to reveal his identity. Zcash, on the other hand, uses zk-snarks to ensure user anonymity.
When another Twitter user asked for Snowden’s thoughts on Monero, he revealed that he thought it was a great project, but that in “amateur crypto” mistakes are bound to happen, and these can have huge consequences for whistleblowers like him. Snowden pointed to traceability issues in Monero, revealed by MoneroLink.
What followed was a flood of comments and, among them, are those of Monero creator Richard Spagni, who strongly defended the cryptocurrency. Litecoin creator Charlie Lee also participated in the conversation, stating that he owns Monero and not Zcash.
Zcash’s Bithumb controversy
Zcash has been on a rollercoaster ride this week, due to alleged insider trading with privileged information allegedly leaked by a Bithumb employee, before the cryptocurrency was added to the exchange.
— WhalePanda (@WhalePanda) September 28, 2017
The price of the cryptocurrency surged before the news was made public, which led to various cryptocurrency traders and investors pointing out something was fishy. The price surged again when Bithumb integrated it into its platform, and then started decreasing, presumably as traders were taking profits. At press time, according to Cryptocompare, one Zcash token is trading at $281.73.