What is ZCash (ZEC)?
Zcash (ZEC) is the first open, permissionless financial system employing zero-knowledge security.
Total supply 21,000,000 coins. Zcash is a digital currency, or cryptocurrency, like Bitcoin. (In fact, Zcash was built on the original Bitcoin code base.) It was conceived by scientists at MIT, Johns Hopkins and other respected academic and scientific institutions.
You can use Zcash to buy goods and services — it's fast and confidential, great for payments — or you can exchange it for another kind of money, including US dollars, Euros or another fiat currency.
A major difference between most cryptocurrencies and traditional money is that every transaction is tracked and managed on a decentralized, public blockchain, instead of by a centralized institution, like a bank. This means you truly own your money.
Privacy within your control
Most cryptocurrencies expose your full transaction history and holdings to everyone, but shielded Zcash transactions are completely private.
Like Bitcoin, Zcash transaction data is posted to a public blockchain; but unlike Bitcoin, Zcash gives you the option of confidential transactions and financial privacy through shielded addresses. Zero-knowledge proofs allow transactions to be verified without revealing the sender, receiver or transaction amount. Selective disclosure features within Zcash allow a user to share some transaction details, for purposes of compliance or audit.
Zcash also allows for transparent transactions, which are completely interoperable with shielded addresses.
Post a Comment