Zcash cofounder Ian Miers discusses zero-knowledge proofs, why Bitcoin’s public ledger creates massive privacy problems, how SNARKs enable trust without exposure, quantum computing threats to cryptocurrency, identity and reputation systems, and why a blockchain needs privacy to function as actual money.
Notes:
• Zcash launched as first industrial zero-knowledge proof application
• Zero Coin published 2013 (before Ethereum or SNARKs existed)
• Quantum computers need thousands of qubits to break RSA
• Blockchain transparency makes Bitcoin “Twitter for bank accounts”Timestamps:
00:00 Start
00:19 What’s Ian up to?
01:25 Creating Zcash
05:59 Why ZK tech is a big deal?
08:34 Zero knowledge proofs & Bitcoin
10:36 Verifiability vs privacy
14:02 The 2025 Zcash resurgence
17:20 Other research
20:45 Stablecoins & real world assets
24:15 Ellipsis Labs Ad
25:02 Regulation
28:57 Government privacy overreach
33:11 Zcash proposals & current development
35:51 Swaps
39:29 Zcash as medium of exchange?
41:37 The possibility of privacy on Bitcoin
43:53 Other privacy tech?
50:18 Monero vs Zcash
53:37 Developer block rewards
57:12 Developer rewards & adoption
59:39 Quantum risks
1:02:45 Quantum timelines
The Gwart Show is sponsored by Ellipsis Labs. Backed by Paradigm, Electric Capital and Haun Ventures. The founders, Eugene and Jerry, have experienced Citadel Jane Street in the Solana Core team since launching their order book DEX, Phoenix. They’ve done over $80 billion in trading volume by making onchain order books competitive with centralized exchanges.
Ellipsis is hiring for New York-based engineers. Work with a small focus team who are results driven, collaborative, and use a modern stack. If you’re an engineer who wants to work on infrastructure that’s already proven itself in the market, go to ellipsislabs.xyz.
