Zcash's privacy protection technology makes this currency the most interesting alternative to Bitcoin. Bitcoin is good, but does not guarantee anonymity, and therefore is not safe. Edward...
Zcash's privacy protection technology makes this currency the most interesting alternative to Bitcoin. Bitcoin is good, but does not guarantee anonymity, and therefore is not safe.
Zcash (ZEC) is an innovative anonymous cryptocurrency with a unique open source code that was introduced to the world in 2016. To ensure the security of transactions it uses a zero-knowledge protocol that can handle confidential transactions on any blockchain. According to the former CIA employee, Edward Snowden, ZEC is the most attractive alternative to Bitcoin. While Europol is worried about the growing popularity of this currency, the website WikiLeaks has decided to accept donations in Zcash. The coin is among the top ten leaders in terms of market capitalization and liquidity.
What does Zcash have?
Zcash operates on the basis of the unique zk-SNARK protocol which allows almost complete anonymity of transactions by hiding both the operations of the process and the data about its participants.
Users send electronic money directly to each other so third parties do not have the opportunity to collect information about who paid whom and what amount. With the help of a special algorithm, all money transfers are confirmed automatically. Users have the option to use hidden or open addresses. No one will know any details of the transaction if they select a private address.
After the transaction, unlike other cryptocurrencies, information about the operation from the Zcash system is immediately deleted.
A total of 21 million coins have been issued. This limited number of coins prevents the price of Zcash from going down. It takes 2.5 minutes to create one block, which is 4 times faster than the production of one block of Bitcoin. It is not only possible to own this cryptocurrency through mining, but you also have the opportunity to purchase ZEC on special services markets, as well as on exchanges.
The ZCash rate is unstable. The lowest recorded was $29 in February of 2017. The highest recorded for 1 ZEC was $410 in June of the same year. In order to make money on ZCash, it's best to follow the ZEC rate online on a regular basis. Currently 1 ZEC coin is worth $231.
Follow the Zcash online exchange rate:
Share this with your friends!