Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Privacy Coins Forum => Zcash Forum => Topic started by: Kingking on June 11, 2018, 07:51:53 AM
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I really don't have any idea what zcash is. I want someon to answer my question.
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I really don't have any idea what zcash is. I want someon to answer my question.
A brief understanding of Zcash began at the initial Zcash protocol launched as “Zerocash” in 2014. Zcash was developed through a collaboration between the original Zerocoin researchers at John Hopkins University and a group of cryptographers at the Massachusetts Institute of Technology, the Technion – Israel Institute of Technology, and Tel Aviv University. Through this partnership they built upon and improved the original protocol by making it more efficient and private.
In addition, Zcash is a decentralized and open-source cryptocurrency that provides strong privacy protections. Shielded transactions hide the sender, recipient, and value on the blockchain etc.
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Zcash is a cryptocurrency aimed at using cryptography to provide enhanced privacy for its users compared to other cryptocurrencies such as Bitcoin. The Zerocoin protocol was improved and transformed into the Zerocash system, which was then developed into the Zcash cryptocurrency in 2016.
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I really don't have any idea what zcash is. I want someon to answer my question.
The purpose of ZCASH which helps provide enhanced privacy and verify transactions without knowing the identity of transaction makers or the amount being transferred.
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ZCash is already doing significantly better when compared to the previous performance this coin had during the latest market crash, also losing its all-time high at the time
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Zcash popular with anonymous transaction. No one knows who send the coin. Benefit of it government cant Tracking it. It means no tax. Or it can be money laundry.
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maybe zcash aims to fight bitcoin.
but it seems very unlikely, because bitcoin will never be rivaled, even it can be said that bitcoin is a crypto legend
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Zcash uses zero-knowledge proofs as the advanced privacy technology to verify transactions without having to reveal the amounts or parties involved with outside parties.
Let's check what is Zcash (https://seo spaminfo/zcash/what-is-zcash) and the main purpose of Zcash are -
- It uses a technology called zero-knowledge cryptography which allows Zcash to protect the privacy of the transaction.
- It exposes the entire payment history to the public on the public blockchain, but users can choose an optional privacy feature.
- Zcash aims to protect the details about the sender, recipient and the value using shielded transactions.
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Zcash purpose and aspects Zcash offers private transactions as well as a selective transparency option.
Zcash additional differentiation against competition
20% of mining reward goes to founders pool
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The Zerocoin protocol was improved and transformed into the Zerocash system, which was then developed into the Zcash cryptocurrency in 2016.
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And in addition to your points, Zcash developers started the Zerocoin project to address the security limitations of bitcoin. The protocol they created allowed users to convert bitcoin to zerocoins, which provided a greater level of anonymity by concealing the origin of a payment. The protocol allowed users to split up or alternatively merge zerocoins, and also convert them back to bitcoins.
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Dash leverages a technique called "CoinJoin", in which several users put funds into the same transaction in order to increase the chances of privacy. Alternatively, Monero harnesses ring signatures to reduce the chance of detection.