01 Supply credibility ₿ Bitcoin
Explicit rules Issuance follows verifiable rules.
Documented factM Monero
Predictable tail emission Continuing issuance without a fixed total cap.
Documented factZ Zcash
Approx. 21 million cap Scheduled issuance with periodic halvings.
Documented fact02 Purchasing-power preservation ₿ Bitcoin
Historical purchasing-power sample available Scarcity does not ensure real returns.
InterpretationM Monero
Historical purchasing-power sample available Real purchasing-power data is needed.
InterpretationZ Zcash
Historical purchasing-power sample available Real purchasing-power data is needed.
Interpretation03 Purchasing-power stability ₿ Bitcoin
Historical volatility measured Stable issuance is not a stable price.
InterpretationM Monero
Historical volatility measured Issuance does not track a consumption basket.
InterpretationZ Zcash
Historical volatility measured Issuance does not track a consumption basket.
Interpretation04 Distribution neutrality ₿ Bitcoin
Open rules; unverified outcomes Issuance access and ownership differ.
InterpretationM Monero
Issuance rewards miners Reward allocation and ownership are separate.
InterpretationZ Zcash
Designated issuance allocations Beneficiaries must be checked by historical epoch.
Documented fact05 Censorship resistance ₿ Bitcoin
Conditional protection No central approver; participation matters.
InterpretationM Monero
Privacy limits identification Concealed transaction data may reduce targeting clues.
InterpretationZ Zcash
Protection depends on the path Shielding can reduce some on-chain identification clues.
Interpretation06 Privacy & fungibility ₿ Bitcoin
Transparent by default No identity register; public transaction history.
Documented factM Monero
Mandatory transfer privacy No ordinary transparent-transfer mode.
Documented factZ Zcash
Transparent + shielded Privacy depends on the actual transaction path.
Documented fact07 Self-sovereignty ₿ Bitcoin
Native self-custody Users can directly control their keys.
Documented factM Monero
Key-controlled spending Users can hold their own spend keys.
Documented factZ Zcash
Key-controlled spending Users can hold their own spending keys.
Documented fact08 Independent verifiability ₿ Bitcoin
Independently checkable Full nodes can check rules and validity.
Documented factM Monero
Validate commitments and proofs Rules can be checked without revealing amounts.
Documented factZ Zcash
Shielded proofs are verifiable Privacy and verifiability can coexist.
Documented fact09 Settlement security ₿ Bitcoin
Probabilistic finality Confirmations reduce, not eliminate, risk.
InterpretationM Monero
Probabilistic PoW settlement Tail subsidy provides continuing native incentives.
InterpretationZ Zcash
Probabilistic PoW settlement Confirmations and privacy provide different assurances.
Interpretation10 Monetary governance ₿ Bitcoin
Socially constrained Rule adoption requires coordination.
InterpretationM Monero
Contributor-led coordination Open collaboration with participant adoption.
InterpretationZ Zcash
ZIPs and organizational coordination Proposal status and activation are separate.
Interpretation