Zcash's Unlikely Rise: Can it Surpass Bitcoin?

Over the past year, Zcash (ZEC) has experienced a remarkable surge of 25 times, sparking debate about its potential to surpass Bitcoin (BTC). Jake Koch-Gallup, a Blockworks writer, explores this possibility and argues that while it's unlikely, ZEC could still reach a significant market cap. The main advantage of ZEC lies in its built-in privacy functionality, which Satoshi Nakamoto himself believed was essential for Bitcoin's success.

Koch-Gallup points out that other Bitcoin forks like BCH, BSV, and XEC have failed to approach BTC's $1.7 trillion market cap despite sharing similarities with ZEC. He attributes this to the fact that Zcash has been in production for over 10 years, providing a first-mover advantage.

The writer notes that while privacy is essential for cryptocurrency, it still carries risks and challenges. For instance, a recent vulnerability was discovered in Zcash's primary shielded pool, causing a significant drop in price. Additionally, the underlying cryptography used by Zcash may take years to gain trust.