Review on Zcoin by Othere Obtentus
Anonymity
Zerocoin is a currency that includes a decentralized blockchain which provides privacy and security for the operations of its members. The ZCoin platform is somewhat familiar to the bitcoin platform. That being said, the Zerocoin platform seeks to fix the vulnerability of Bitcoin, which is the issue of privacy concerns. The aim of the zerocoin project is to create a cryptocurrency that won't allow your adversaries, acquaintances, or companions to know whatever you're buying and how much you're paying. ZCoin offers anonymity for direct transfers between different parties. All participants can exchange Bitcoins to ZCoins and then transfer those ZCoins to other users. The ZCoins a customer holds can be split or merged in some manner that retains the overall value.
Then there is the possibility of exchanging ZCoins again for Bitcoins. Furthermore, the secure cryptographic methods employed by the Zerocash protocol mean that the Bitcoins can not be traced.
Pros
- Implemented as a sequence of extensions to the existing Bitcoin protocol
- Direct payments between Users
- Anonymity in transaction
- Untraceable
- Listed on popular exchanges
Cons
- There are a lot of other popular currencies built on privacy
