Debate over ZCash developer's identity fuels Bitcoin creation

This discussion has unexpectedly resurfaced theories linking developer Diara-Emma Hopwood to Bitcoin's creator, Satoshi Nakamoto.

• Some traders see ZCash as a return to crypto's privacy-focused roots, while others warn that the token may be overbought.

• ZCash (ZEC) has surged from around $40 in early September to nearly $750, a 1,700% increase that few expected. Such explosive changes are typically seen in meme coins, not privacy-focused projects from the mid-2010s. So what's happening with ZCash?

• Even more interesting, recent discussions in the crypto community have linked ZCash not only to Bitcoin (BTC), but also to Satoshi Nakamoto himself.

• Source: TradingView

• ZCash corrects after founder rumors

• On November 8th, the price of ZCash suddenly dropped from around $720 to $513, a drop of approximately 30%. Although this drop is minor compared to the coin's seventeen-fold rise, it coincides with an ongoing social media controversy surrounding one of the project's early developers.

• A rumor began spreading on X (formerly Twitter) claiming that the founder of ZCash was a transgender man. The viral post included an old interview clip, which immediately sparked mixed reactions and, in some cases, transphobic comments.

• It was later revealed that the person in the video was not the founder of ZCash, but rather cryptographer and longtime ZCash developer, Diara-Emma Hopwood. This interview, originally published in August 2024, resurfaced amid the project's sudden surge in popularity.

• Source: X

• The Satoshi Connection

• The controversy took an unexpected turn when users suggested that Diara-Emma Hopwood might have connections to Bitcoin's mysterious creator, Satoshi Nakamoto.

• Rumors linking Hopwood to Satoshi arose from a combination of cryptographic research and early academic references. Before joining ZCash, Hopwood had published several papers on privacy-enhancing techniques, such as key blinding and group signatures. These same concepts appeared in Satoshi's forum discussions around 2010, and an earlier post even cited Hopwood's academic work.

• Both have British backgrounds and prefer British spellings, further fueling speculation. Although evidence remains circumstantial, the similarities between Hopwood's research and Bitcoin's initial design have kept this theory alive in some parts of the crypto community.

• 'ZCash is Satoshi's true vision for Bitcoin'

• ZCash is now considered an "improved" version of Bitcoin and, in some ways, a counterpoint to today's mainstream crypto market. It is one of the few projects in the privacy sector that has attracted renewed attention this year. Some analysts believe this ideological stance partly explains the token's rapidly growing influence. Some investors view ZCash as a return to the ideals first espoused by Satoshi Nakamoto.