Ethereum co-founder, Vitalik Buterin has suddenly come in defense of Zcash (ZEC), an anonymous cryptocurrency, after the project was branded “a failure” by popular cryptocurrency commentator, WhalePanda.
WhalePanda, a pseudonymous cryptocurrency commentator on Twitter, picked out Zcash (ZEC), asking when the people considered the project a failure with its present situation.
He said the market cap of ZCash is still smaller than Dogecoin, “a silly meme project that hasn’t gotten an update in 5 years”.
“When do you consider your project a failure? Is it when after a funding round, 3 years of founder’s rewards & a request for an extension of these rewards the marketcap of your coin is still smaller than $DOGE? A silly meme project that hasn’t gotten an update in 5 years.”
Absolving Zcash from the ridicule, Vitalik Buterin said the cryptocurrency project has been doing cutting-edge research and deploying privacy tech. He added that Zcash has been exploring uncharted terrain in blockchain governance.
Vitalik, who also holds some Zcash (ZEC), concluded that the platform keeps getting better, and there’s no reason why Zcash could have been considered “a failure”.
Zcash has been doing cutting-edge research and deployment of privacy tech and at the same time exploring uncharted terrain in blockchain governance, and the platform keeps getting better. No idea how one can consider it a failure.
— vitalik.eth (@VitalikButerin) December 11, 2019
Responding to Vitalik, WhalePanda asked how much value the “cutting-edge research and deployment” has given to the investors in the coins?
“Or well instead of “investors” lets call them “duped idiots that got dumped on for 3 years””.
The pseudonymous crypto commentator said the response from Vitalik is an indication that those who do not have a skin in the game but just created a bunch of free money out of thin air do not care about the project.
“This is the problem with people that don’t have skin in the game and just created a bunch of free money out of thin air. They don’t value the people that actually put their hard earned money in projects. “Cool research bro, too bad everyone lost money”.”
