This will not work because of Bitcoin's social problem, but Zcash has a chance of not falling for these social traps that Bitcoin and Ethereum fell into. The proliferation of a hundred different Layer-2 privacy solutions on Bitcoin will not suddenly make Bitcoin encrypted. Zcash's privacy works because it adopted an in-protocol shielded pool. Similarly, Zcash's interoperability is effective because it adopted Near Intents as the "official interop layer," resulting in a canonical $ZEC across all major chains. Zcash learned from the failures of Bitcoin and Ethereum and deliberately avoided Bitcoin's social problem. Zcash started with privacy as a first-class citizen and then tackled user experience (UX) and interoperability (interop). Both are now in a good position, with "official" solutions established for all three: the shielded pool for privacy, Zashi for UX, and Near Intents for interop. The next major milestones for the protocol will be scaling and DeFi. My hope is that after the Tachyon upgrade (which focuses on scaling), the Zcash community will continue this concept of "official solutions" by adopting a canonical programmability layer for general-purpose Zcash use cases like DeFi—or rather, "ZeFi" 😉. We must not repeat the mistake that Ethereum made by maintaining an entirely neutral stance and allowing a hundred fragmented Layer-2 solutions. While unofficial solutions can certainly exist, there should also be an official, "sanctioned" one. @ebfull @0xMert_ @arjunkhemani As a new zcash community member and a long time crypto user who has watched how these systems evolve, I'm hoping this message reaches the right people in zcash core and ECC
what if we just built encrypted bitcoin but like on bitcoin
@jswihart
Also tagging @zooko
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