Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Privacy Coins Forum => Zcash Forum => Topic started by: Pheonyx on April 30, 2018, 02:31:38 AM
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I don't know about this crypto whether it is a token or a coin and the advantages of it compare with others. Do you guys can share anything about it?
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Zcash (ZEC) is another Crypto currency like bitcoin but with a few different features. Like Bitcoin it is based on a decentralised blockchain but allows for anonymity behind transaction amounts and parties involved. In Bitcoin if you know someone's address you can follow their transactions and you can see which all the addresses and their transaction amounts - so its quite clear how much money is moving around, with ZCash all the information is encrypted
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I don't know about this crypto whether it is a token or a coin and the advantages of it compare with others. Do you guys can share anything about it?
Zcash is a privacy driven cryptocurrency launched October 28, 2016. It uses Equihash algorithm, which is a lopsided memory hard POW (Proof of work) based cryptocurrency. Zcash payments are published on a public blockchain, but the sender, recipient, and amount of transaction remain private.
It provides strong privacy protections. It also offers protected transactions to the sender and the recipient, and value on the Blockchain network.
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Zcash (ZEC) is another Crypto currency like bitcoin but with a few different features. Like Bitcoin it is based on a decentralised blockchain but allows for anonymity behind transaction amounts and parties involved. In Bitcoin if you know someone's address you can follow their transactions and you can see which all the addresses and their transaction amounts - so its quite clear how much money is moving around, with ZCash all the information is encrypted
So meaning to say, even the kind of crypto you are sending by using the platform of zcash three is no way to trace? Like for example I am sending 1000 eth, my transaction will remain untraceable?
Please correct me if I'm wrong because I am still a learner in this space and my interest to learn as much as I can is realy great.
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I don't know about this crypto whether it is a token or a coin and the advantages of it compare with others. Do you guys can share anything about it?
Yes! Zcash is a cryptocurrency first lunched in 2014. The Zcash Project was formally announced by ZECC CEO Zooko Wilcox-O’Hearn on January 20, 2016 as in evolution of the existing Zerocoin Project.
With the new Zerocash protocol, users can make direct payments to each other with a vastly more efficient cryptocurrency protocol that also hides the amount of payment, not just its origin.
In addition, Zcash is a cryptocurrency focused primarily on privacy. It works like the majority of the other cryptos and offers the same service, but what makes Zcash unique is the feature which allows users to make private transactions. The lack of privacy on the original system of the blockchain is one of the main reasons people don’t trust and don’t like to use cryptocurrencies, and Zcash exploited this fault to gain popularity by offering what many people were asking for: privacy.
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Zerocash protocol is a really good improvement for Zcash.. this coin is one of most promising of "privacy coin" type. Team is great!
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I don't know about this crypto whether it is a token or a coin and the advantages of it compare with others. Do you guys can share anything about it?
here some advantage of ZCASH :
world class team of developers
ultimately same amount of coins as bitcoins
Potentially more effective governance
Offers exclusive privacy
Improved block-time of 2.5 minutes
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Zcash controls this by making a computation that doesn't require modern hardware to mine.
It has bring down exchange charges than bitcoin.
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Zcash is different from other altcoin amd it has tha advantage in terms of transactions, features and functiinality.Zcash payments are published on a public blockchain, but the sender, recipient, and amount of transaction remain private.
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Zcash offers total payment confidentiality, while still maintaining a decentralized network using public blockchain. Unlike Bitcoin, Zcash transactions automatically hide the sender, recipient, and value of all transactions on the blockchain. Only those with the right viewpoint can see the contents. Users have complete control and can participate to provide others with their key views at their discretion.
Zcash transactions are not dependent on cooperation from other parties.
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With Zcash , payments are recorded on the public blockchain, but the details of who sends and receives transactions - and also the amount - are obscured. There are many advantages of anonymous transactions, namely that the history of 'coins' will not be taken into account. Zcash itself uses the tagline for this effect which is 'All coins are created equal', a phrase play made famous by George Orwell in Animal Farm.
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Blockchain analysis for transparent transactions is the same as Bitcoin (transparent is transparent). But in Zcash all private Z-transactions are are grouped together with every private transaction that has ever been made so the anonymity set is much higher than other coins.
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The Zcash company aims to set new standards for privacy through the use of cryptographic breakthroughs.
In an open and programmed financial system, privacy is the only way to ensure flexibility and guarantee that cryptocurrency can be exchanged as a liquid exchange medium for users. Companies need protection of privacy along their supply chains in order to do their business, especially in the context of public blockchains. In addition, we believe that personal privacy is needed for the core of human values such as dignity, intimacy and morality.