Wilcox: Capital investment into mining operations cannot be prevented long term
Zooko Wilcox · 812: Crypto: $3m Raised, He's Build the SSL for Cryptocurrency · Oct 14, 2017 · at 13:31
Zooko Wilcox, founder of Zcash, reflects on whether memory-hard algorithms can permanently stop mining centralization by well-funded operations.
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“There's probably nothing that can prevent someone from investing capital in order to improve their mining operation.”
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Wilcox: Zcash launched with zero pre-mine and relied purely on mining
“And what we did instead was we started with nobody having any of the money, and we just had mining, which was an innovation that we copied from Bitcoin, so that anyone who has a sufficiently powerful computer connected to the internet can participate in buildi…”
Wilcox: Zcash forks Bitcoin's codebase, not its blockchain
“It's a fork of the software. We copied the Bitcoin software and added our cryptographic improvements. Okay. But it's not a copy. It's not a fork of the Bitcoin blockchain. It's a separate independent blockchain, Zcash blockchain.”
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“Those Zcash coins are trading for about 200 dollars a piece on about 15 or 20 different markets in, in different countries around the world, and every day there's about twenty million dollars worth of coins transacted which puts it in the top tier of this kind…”