Everything You Need To Know About ZcashWhat is Zcash?
Cryptocurrencies may be taking the world by storm, but they’ve also brought with them some unexpected issues - a public blockchain allows everyone to peer into our wallet transactions and balance. Understandably, many are not pleased with such features in a blockchain. That’s where Zcash comes in.
The creator of Bitcoin - Satoshi Nakamoto - had noted that there was an increase in the demand for coins which provide better privacy. He wasn’t wrong.
As a cryptocurrency, Zcash offers significantly improved privacy for its users compared to its counterparts. It was developed from the scientific Zerocoin protocol, which was enhanced to form the Zerocash system. This subsequently developed into the Zcash cryptocurrency by the Zerocoin Electric Coin Company, also referred to as the Zcash Company. Zcash developed and improved the protocol and the reference implementation.
The Zcash cryptocurrency uses a technology called zero-knowledge cryptography, which allows Zcash to protect the privacy of the transaction.
Like Bitcoin, it exposes the entire payment history to the public, which is published on the public blockchain, but users can choose an optional privacy feature. This allows them to conceal the important details. More on
CoinSwitch.
Value of Zcash (ZEC) TodayAt the time of writing, Zcash (ZEC) rose by 1.28% and is now worth $115.05. Currently, the market capitalization of ZEC is US$556,748,671 million according to the data at
CoinMarketCap.