Zcash is one of the top 20 cryptocurrencies available on the market at the time this review was published. It is a by-product of the Zerocoin project, which was established to improve the privacy of Bitcoin users. A team of engineers, advisors and scientists of the Zerocoin Electric Coin Company (ZECC) launched the Zcash currency in 2016. The project founder and company CEO is Zooko Wilcox-O’Hearn.
Although all Zcash payments are made public, users can take advantage of an optional privacy feature. This is aimed at protecting the identities of senders and recipients. The transaction amount is also hidden on the public blockchain. Users can leverage selective disclosure to provide proof of payment for auditing purposes. The use of blockchain technology reinforces security for all Zcash payments.
Zcash helps users enjoy a greater level of privacy and fungibility than other digital currencies, including Monero, Bitcoin and Dash. Many currencies rely on private keys to handle anonymous transactions. However, the approach comes with significant downsides. Private keys consist of strings of numbers and letters used to identify users. Over time, an address attaches itself to the user’s transactions. This allows other users, including marketers to detect purchasing trends.
Zcash’s advanced technology addresses these issues by encrypting details of a transaction. The digital currency verifies the validity of encrypted payment information using an innovative cryptographic technique. The method is based on a zero-knowledge proof cryptography known as zk-SNARKs, which verifies the validity of information without revealing any confidential details.
Launching Without an ICO: The Zcash Approach to Raising Money
Zerocoin Electric Coin Company (ZECC) developed and launched Zcash without sourcing capital through crowdfunding. The company reveals its funders on its website. Investors injected funds into the project in exchange for equity in ZECC. Some of the investors include the Digital Currency Group, Maple Ventures, and Barry Silbert.
In turn, the investors benefit from the Founders’ Reward over a period of between one and four years of mining. Up to 90 percent of the digital currency’s monetary base goes to the miners. This approach allows ZECC to continue expanding the platform through innovative concepts, such as the Zcash Sprout.
Conversely, the funding model used by other blockchain tech firms or cryptocurrencies can compromise their ability to provide true market capitalization value which makes Zcash different than competitors and the majority of other alt coins available on exchanges.
Liquidity Across Many Global Exchanges: Recently added to CEX.IO and Bithumb Exchanges
Buying Zcash from exchanges is a practical option for people without cryptocurrency mining experience. Buyers and sellers of Zcash can trade the digital currency on up to 58 exchanges from around the world at the time this review was published.
The list of exchanges continues to expand thanks to the currency’s growth and popularity. Some of the latest additions include Bithumb and CEX.IO.
The CEX.IO exchange is well suited to both institutional traders and beginners in European markets. Traders can deposit and withdraw funds using debit and credit cards. Bithumb is one of South Korea’s largest exchanges and it recently introduced Zcash to provide easy access to its users.
Source: https://coinreviews.io
