The privacy oriented digital coin, Monero [XMR], garnered attention from the crypto community after its transactions hit an all-time high following Bitcoin’s pump over $6,500 and BTC breaching subsequent resistances.
At the recent Magical Crypto Community Conference, Peter Todd, former Bitcoin Core developer, applauded the privacy coin’s community, while criticizing the community of another privacy coin, ZCash.
Talking about Monero and ZCash communities, Todd said that the XMR community “seems honest” and represents the coin “accurately.” ZCash however, scares the former developer. Despite admitting that the technology behind the privacy coin ZCash “is quite good,” Todd alleged that certain posts by the ZCash community on social media platforms are “inaccurate and misleading.”
He went on to say that he would rather have a community that is “honest and accurate” and one that represents the technical capabilities of the digital coin.
While highlighting the fact that Monero is “perfectly blinding” and Bitcoin is “perfectly binding,” Todd was asked if that is a fundamental flaw the privacy coin needs to eliminate. Todd responded by asking why there cannot be two systems with different use cases and different capabilities. Todd further added,
” .. smaller number of currencies are more efficient than a larger number so I would rather see something like add-ons to Bitcoin, where you could take your Bitcoins and move it off into something like Monero.”
Todd also touched upon the topic of Bitcoin’s fungibility. At the conference, the former developer was asked whether he would accept blacklisted Bitcoins from a recent hack. To the question, Todd replied that he would since he believes that currently, “Bitcoin is fungible enough.”
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