Zcash - Privacy in crypto
Zcash is securing a private future for crypto users.
Concise Crypto
May 19, 2022
Zcash (ZEC)
What is Zcash?
Zcash is a cryptocurrency focused on providing private transactions. It was launched in 2016 and its code is based on Bitcoins. In addition, other commonalities include the 21 million maximum supply and the way the protocol validates transactions.
Why does Zcash have value?
Zcash uses a protocol called zk-SNARKs to anonymize transactions, hiding the sender, receiver, and amount. Unlike other privacy-oriented coins, like Monero, this feature in Zcash is optional. Users can also send “transparent transactions” where all transaction information is public. Crypto is still a somewhat ‘private’ ecosystem and many people using crypto still prefer that there transactions remain private; Zcash gives them this option.
What are the Pros of Zcash?
● Transactions are private.
● It is ASIC-resistant and can only be mined with a CPU.
● Fixed supply prevents inflation.
What are the Cons of Zcash?
● Mining profits are low.
● Sometimes private transaction can protect bad actors.
What are ZEC’s tokenomics?
Zcash is mined using the SHA-256 algorithm like Bitcoin. 80% of the block reward is given to the miner and 20% goes to Electronic Coin Company (ECC) and the Zcash Foundation. These organizations are responsible for the development and maintenance of the Zcash protocol. The current block reward is 3.125 ZEC and the maximum supply is 21 million.
Who founded Zcash?
Zooko Wilcox.
Who are Zcash’s investors?
The Zcash team has conducted four funding rounds, including two Initial Coin Offerings (ICO). The main investors are Winklevoss Capital, Pantera Capital, Digital Currency Group, Placeholder, Ben Davenport, Fred Ehrsam, and Fenbushi Capital.
Concise Crypto Grade:
B :Zcash is a favorite token of the sovereign individual movement. Privacy was very important to the early creators of crypto and it’s a value that is still important today. While regulation is making transactions less-and-less private within crypto, Zcash offers users a way to remain anonymous while transacting on the blockchain. There are pros and there a also cons but we believe there needs to be a solution like Zcash within crypto.
Where can I buy ZEC?
Binance, Huobi Global, Coinbase, Gate.io, Kraken, KuCoin.
What ecosystem does Zcash run on?
Zcash