Skip to main content

What is ZCash (ZEC)?

ZEC ZCash


Name:ZCash
Symbol: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.

Key Features

Efficient and usable

Use Zcash as a fast and reliable, inexpensive means to send money or digitally purchase goods and services. It is supported by top exchanges and wallets.

Audit- and regulation-friendly

Private addresses and transactions can be disclosed by Zcash users for information sharing, third-party audits or to comply with regulatory requirements.

Decentralized and attack-resistant

Zcash is decentralized and maintained by a wide network of people and machines, instead of a centralized entity, like a bank or government. There is no central database to be hacked and no single point of failure. There is no authority that can shut it down or prevent its use.

Private addresses & transactions

Privacy is built into the core of Zcash, allowing people to send and receive Zcash without disclosing the sender, receiver or the amount transacted. Privacy allows good people to transact safely over digital mediums. Transparent addresses and transactions are also available.

Comments

Popular posts from this blog

What is CeFi? What is Defi? What is difference?

​​​​​​  Definition CeFi, short for centralized finance, offers some of the yield benefits of DeFi with some of the ease of use and security of traditional financial-services products. With CeFi, you can earn interest on savings, borrow money, spend with a crypto debit card, and more. With DeFi, users trust that the technology will perform as proposed to execute on services being offered. On the other hand, with CeFi, users trust a business's people to manage funds and execute the business's services. A DeFi coin is much like a digital version of a fiat coin — it transfers value in the course of a financial transaction. DeFi coins are built on and often named for their unique, native blockchain networks. In spring 2021, Maker, Compound, Uniswap, Aave, Chainlink, and Ankr are among the most popular DeFi coins. DeFi vs CeFi: CeFi Ecosystem relies on a centralized exchange to manage financial services while DeFi is an open and transparent network. CeFi, short for centralized financ

What is Alliance chain?

 Alliance chain Blockchain is a distributed ledger where each node is responsible for storing data. Depending on the difference in access control, the blockchain can be divided into a public string, a private string, and an alliance string. Public chain The public chain is fully open to the public and allows anyone, regardless of time and place, to engage in transactions and store data in a chain that only requires a device connected to the Internet. For example, BTC blockchain and ETH blockchain are both public chains. Because each node is blockchain independent, user privacy can be greatly protected. In addition, any node with the same rights can try to record and update data through a consensus mechanism. All public chain data is transparent so that everyone can check the history. The public chain is highly decentralized because it runs according to established rules, which does not allow developers or other users to make changes to rules and data. However, the trading speed is much

Coin Hoarding means

Behavior where an investor starts to purchase and hoard a large sum of some currency.