What is Zcash (ZEC) Coin
Zcash is a decentralized cryptocurrency focused on privacy and anonymity. It uses the zk-SNARK zero-knowledge proof technology that allows nodes on the network to verify transactions without revealing any sensitive information about those transactions.
Contrary to a common misunderstanding, the majority of cryptocurrencies on the market, including Bitcoin (BTC), are not anonymous, but rather pseudonymous; while they do not explicitly reveal the identities of their users, each user has their own public address or addresses which can be traced back to them via the methods of data science and blockchain forensics.
Zcash transactions, on the other hand, still have to be relayed via a public blockchain, but unlike pseudonymous cryptocurrencies, ZEC transactions by default do not reveal the sending and receiving addresses or the amount being sent. There is an option, however, to reveal this data for the purposes of auditing or regulatory compliance.
Zcash was first released on October 28, 2016, and it was originally based on Bitcoin’s codebase.
- ZCash is a Proof-of-Work (PoW) cryptocurrency designed to address some of the inherent flaws of Bitcoin e.g., lack of fungibility. Zcash has relied on a set of zero-knowledge proofs called zk-SNARKs to improve anonymity and thus fungibility.
- In the Zcash network, addresses are either private (“z-addresses”) or transparent/public (“t-addresses”). These two address types are interoperable.
- According to the team, some of its key features include low-fee transactions, encrypted memos (allows the sender to include relevant information to the receiver), payment disclosure (allows disclose transaction-specific details to third parties), multi-sig transactions, and transaction expiration (transaction expire after a specific number of blocks if not mined).
- Initially built on the Zerocash protocol, it has relied on Sapling since late 2018, part of its continuous improvement strategy. Sapling has led to efficiency improvements for shielded transactions (lower memory requirements), decoupled spend authority (i.e., hardware for zero-knowledge proof is independent from hardware to sign transactions), and an improved key system (allowing shielded addresses the ability to view incoming and outgoing transaction details without revealing private keys).
How To Buy Zcash (ZEC) Coin
1.Step: Everyone who is planning to invest in or benefit from the advantages of cryptocurrencies wonders the answer to Where to buy Zcash coin question. First, you need an online wallet to buy cryptocurrencies. You need to sign up to Binance exchange from here, which is preferred globally to buy coins and you can buy coins with fiat currencies. You can quickly access many assets and trade types such as altcoins, future markets, and margin by creating a Binance account.
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How Much is a Zcash (ZEC) Coin
Zcash (ZEC) coin prices are updated instantly in USD, Euro, Sterling currencies in the following table.
Zcash (ZEC) Coin Review
You can learn more about Zcash (ZEC) coin reviews and information on cryptocurrencies by visiting their official page available in the following.
Website https://z.cash/ Github https://github.com/zcash/zcash Documentation https://docs.z.cash/ Discord https://discord.gg/8t4zXje