81

It is the only private cryptocurrency in use today which is truly fungible as all transactions are private and created equal. It satisfies the 3 important properties of electronic cash: decentralized, private, digital. These are the major features that distinguish it from all the rest, on a protocol level: Nobody inspecting the blockchain can tell from ...


57

As described by Monero Research Lab academic Shen Noether with regard to the anonymity set: Monero (although the zcash proponents note that a ring signature is a "smaller" anonymity set, they usually don't mention that the stealth address factor actually means that each transaction is masked, whereas the ring signatures provide additional plausible ...


40

Dash uses a modified version of coinjoin to enable its users to mix their outputs with each other. Coinjoin was originally proposed by Gregory Maxwell, and has been available for use in Bitcoin for some time. There are a number of services which connect Bitcoin users looking to mix their outputs, the most popular of these being JoinMarket. Dash's privacy ...


27

Despite both being advertised as privacy-focused cryptocurrencies, they are very different. Summary Monero uses ring signatures, RingCT, and stealth addresses to hide information on the blockchain. For every transaction, there is no way for an outside observer to determine the sending address, the amount sent, or the receiving address. Optional ...


24

Privacy You won't find your standard address on the blockchain. Every single output is its own one time address, there is no choice about it (as opposed to Bitcoin, where address reuse is discouraged, but commonplace, and easy to do). Ring signatures allow transactions to be ambiguous about which outputs are spent, since any one of the N inputs in a ring ...


21

This question boils to down which selective transparency options both coins offer. I'll start with Monero. In Monero there are three tools for selective transparency, namely the viewkey (called the tracking key in the CryptoNote whitepaper (a,B)), key images (I = xHp(P)), and the private tx key (r). Note that the letters between parentheses correspond to the ...


19

The social contracts of the two coins have diverged substantially over the past several years. Monero has consistently put privacy and security over usability and marketing. Most early users were relatively tech savvy as the official wallet required the use of the command line. Although GUI development began in 2014 it ceased completely for a long time ...


17

Adding this answer to make it simpler to those who can not understand the top response. ZCash uses a new cryptography tool called zk-SNARK (don't worry about the name). This is different than the ring signatures that Monero uses. Without getting into too much detail, this is how they both work: zk-SNARKs use the entire blockchain when making transactions, ...


16

Yes it's definitely possible, but why create a whole new coin for that? A better idea would be to create a Zerocoin sidechain (post RingCT) for Monero that allows people to move their Monero into the sidechain, mix it and send it to anyone else on the sidechain, and then pull it back out. This would avoid the massive risk associated with ZCash's trusted ...


14

In fact Zcash does have viewing keys that allow to see all incoming transactions for a certain address. There is also a straightforward way to do proof-of-payment without changing the protocol, although we haven't implemented any RPC interface for that yet: https://github.com/zcash/zcash/issues/737 . Note that a proof of payment necessarily must be ...


13

Yes, that is true, but that is not the only thing. The main privacy enhancing features of Monero are: Ring signatures: make transactions harder to trace by obscuring the output of the true sender in a set of n other outputs on the blockchain, indistinguishable with respect to their amounts, which are all the same (currently), or all hidden (under ringCT, ...


12

Monero is built on Cryptonote, which uses ring signatures (which it created in the context of cryptocurrencies) and stealth addresses. ShadowCash is built on Bitcoin, and reimplemented ring signatures (in a way that broke anonymity, see https://shnoe.wordpress.com/2016/02/11/de-anonymizing-shadowcash-and-oz-coin/). I have seen claims that they have stealth ...


12

Monero originally required a lot of RAM, because it stored the blockchain in RAM. Currently, Monero uses LMDB to store its blockchain. As a result, people are able to set up Monero nodes with only 512MB of RAM. When running, bitmonerod (the daemon) uses less than 100 MB of RAM. For Zerocash the requirement will be much higher for nodes that generate spend (...


12

Despite both being advertised as privacy-focused cryptocurrencies, they are very different. Monero uses ring signatures, RingCT, and stealth addresses to hide information on the blockchain. For every transaction, there is no way for an outside observer to determine the sending address, the amount sent, or the receiving address. Optional transparency can be ...


11

A few other security related things that weren't mentioned in the other answers. In contrast to Bitcoin's 10 minute block time, Monero has a 2 minute block time. Additionally, Monero uses a different elliptic curve. Instead of secp256k1 / ECDSA as used in Bitcoin, Monero uses Ed25519 / Curve25519 / EdDSA. This doesn't make any perceivable difference for ...


11

Well, private spend keys are 64 character hex strings, see here: https://moneroaddress.org That will give you around 1e77 possible private keys. If n is the number of possible private keys, and you only generated two private spend keys, the odds they would be the same is: 1 - (n-1)/n Which Python tells me is 0.0 due to floating point arithmetic. In ...


11

The simple answer would be no. The codebases simply aren't in any way similar. Bitcoin devs would need to do a massive rewrite of the code to implement ring sigs with confidential transactions, it would require a hardfork and would likely break functionality with code outside of Bitcoin such as wallets and such. The longer answer would be maybe. It could ...


10

Advantages of CryptoNote coins Common to all Bytecoin derived coins Monero transactions are untraceable and un-linkable by default. Meaning that there is ambiguity of where the monero came from and the destination address (or account in Monero lingo) is unknown. There is the option of providing the viewkey, which allows someone to check for incoming ...


10

Update 2018.02.04 In light of recent of environment changes, this answer needs update, since blockchain scalability cannot be ignored anymore. TumbleBit's mixing technique became completely uneconomical, due to high fees. Although Monero has a similar fee problem, not as bad as TumbleBit has. That being said, TumbleBit has a Payment Hub mode, which is just ...


10

Monero mixin 0 is still superior to a Zcash "T" transparent transaction due to the fact that Monero uses stealth addresses for every transaction whereas Zcash does not have this feature. I do not imagine there would be any scenario for Zcash to eliminate transparent transactions as this would break a lot of the intentional bitcoin compatibility that is ...


9

Do Monero and ZCash have different transaction fees? This is largely going to depend on the price, which is currently unknown because Zcash hasn't launched yet. However, on testnet the fee seems to be approximately 0.00005 TAZ (Zcash tesnet coins) per kB, whereas Monero currnetly has a fee of 0.002 XMR per kB. A more interesting comparison is transaction ...


9

It's steeper than bitcoin's because thankful-for-today made it that way. Indeed, if you dig into the bitcointalk forum history, you can find that not many early monero community members were supporting this curve and there was actually discussions about changing the curve. While this is outside the scope of this particular question, no one actually knows ...


9

1. Can ZCoin protect the privacy of transaction amounts like Monero will do with RingCT No, it cannot. All transaction amounts are visible on the ZCoin blockchain. As of the block 1,220,517 v4 fork in early January, RingCT transactions will be allowed on the Monero network. RingCT transactions hide all Monero transaction amounts but will not become ...


8

I'm not exactly sure I understand the question, but I'm assuming you mean what of those three factors sets Monero and Bitcoin apart the most? I'd say privacy is the big one, for one, the other two could conceivably be implemented via hard forks, but implementing ring signatures at the protocol level in the blockchain would be extremely difficult, if not ...


8

There's no definitive answer to this (I've asked the devs in the past and they' don't know either) because the original guy that announced Monero, was thankful_for_today and he's no longer around. However, it does seem that the issuance schedule and Monero's does seem to match up so that both reach a total of 21 million coins in the future. This MAY be ...


6

Monero will scale where bitcoin failed because Monero is hardcoded to scale to the network infrastructure (a real variable), whereas Bitcoin is hardcoded to scale to a decision made by humans (the 1 MB block cap).


6

One of the key privacy features for Monero goes beyond the use of stealth addresses, ring signatures and confidential transactions (coming January '17). More so it's the fact that all of these features are default-on. That's a tremendous improvement over competitors today, all of which offer optional private transactions with the default being transparent. ...


6

Going through the commits there is really only one significant difference. Electroneum has no decoys, thus removes a significant aspect of privacy: #define DEFAULT_MIX 0 #define DEFAULT_RINGSIZE 1 A couple of other things to note: There is no attribution given to many commits which are simply copies of ...


5

Amichateur made a very informative post on Reddit with graphs making this comparison and an explanation of how FreeMat was used to calculate the data. 9.4 min Bitcoin block time (de-facto avg. time since inception) For comparability, Monero block reward shown relates to 9.4 minutes intervals. The vertical line indicates the start of Monero's tail ...


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