I downloaded and ran the testnet version, and did some test transactions. I read the implementation of zkSNARKs and understood 30% of it, apparently that's generous. From a scaling perspective, Zcash has significantly bigger challenges than Bitcoin or Ethereum, but it works very well collaboratively with other chains.
I would love to see Zcash as a sidechain in the ecosystem, where features are borrowed and used temporarily from each system. From Zcash you can get a better degree of privacy and anonymity, then move it out into something else. We all benefit from these inventions.
Transcript
[AUDIENCE] Quick question, can you give us your thoughts on Zcash, which will launch tomorrow? [ANDREAS] I must say that I am not an expert [in it], but I downloaded and ran the test net version of Zcash. I did some test transactions just to see how it works, looked at the source code a bit, and read the implementation of zk-SNARKs. I probably understood about 30% of it.
[AUDIENCE] That is a lot. [Laughter] [ANDREAS] That is generous, right. Maybe less. [Laughter] I find it fascinating.
I also understand that from a scaling perspective, Zcash has some challenges that are significantly... bigger than the scaling challenges of Bitcoin, Ethereum, or other systems. But I also understand that it works very well collaboratively with other chains, I would love to see Zcash as a sidechain. I would love to see it as part of the ecosystem.
As you [build] an ecosystem of developing blockchains, you can borrow features from each of them, or you can use their features temporarily. You can move your money into Zcash for a high degree of anonymity and privacy, then move to something else. Run a smart contract in Ethereum, then move to bitcoin and put it in cold storage for long-term value. They are all part of the ecosystem; we all benefit from these inventions.
I am excited to see how it goes. I hope it goes well.