Zcash (ZEC) - truly anonymous cryptocurrency

Zcash (ZEC) is a cryptocurrency that gives you complete privacy. The address of the parties to the transaction can be saved in the public blockchainie, but not necessarily - you can also encrypt the transaction amount. However, it is the most controversial for another reason.

The so-called. Private Coins have not been passing a good run lately. More cryptocurrency exchanges have just announced resignation from Monero tradingwhich is completely anonymous. The reason was the same in all cases: concerns that the anonymity of the amount and the parties to the transaction could be used by criminals and terrorists to settle accounts. And these fears were not unfounded. Hackers quickly took a liking to Monero, and it was in this token that they charged "fees" for ceasing their activities or minimizing the losses caused.

Be sure to read: What is a Token BAT (Basic Attention Token)

Zcash is also a private coin, but anonymity is an option, not a top-down assumption. That is why it is still very popular. On the one hand it gives the opportunity for privacy, but on the other hand allows for transparency and speed of transaction confirmation.

Beginnings and functioning

Cryptocurrency created by the American company Zerocoin Electric Coin Company, owned by Zooko Wilcoxis based on the source code Bitcoin and is expected to have 21 million units. As of today, over 5 million ZECs have been excavated. The network has been operating since October 28.10.2016, XNUMX.

As in the case of Bitcoin, more Zcash blocks must be dug up. On average, one block is 2,5 minutes, and the prize for its extraction is 12,5 ZEC. You still have to deduct 10 from it, which is automatically deducted from the activities of the Zcash Foundation, which is to stimulate the development of the project.

Similarities to Bitcoin does not stop at the source code and the number of coins. Zcash also performs halving, i.e. reducing the reward for miners. The next four-year period is in 2020, when the prize for digging Zcash will be reduced to 6,25 ZEC.

Zcash anonymity, or rather the lack of it

The privacy of the cryptocurrency is ensured by the ZK-Snarks (zero knowledge) protocol. The zero knowledge proof cryptographic protocol guarantees confirmation of the correctness of the transaction without the need to disclose details. It turns out, however, that the vast majority of users do not use protected addresses. It is estimated that over 90 percent. transactions are fully transparent.

Thanks to this, Zcash is still one of the top private coins. However, there are also accusations that he denies some of the ideals behind the introduction of cryptocurrencies into circulation. This is evidenced by the fact that the source code is owned by the Zerocoin Electric Coin Company, and it does not matter to critics that it is open. The most emotional, however, is the deduction of amounts from all excavated ZECs. 10 percent goes to a foundation that is to develop the project and this would still be swallowed by most people, but for the first four years (i.e. until 2020, when the halving will occur) another 20 percent. is ... the remuneration of the founders of the cryptocurrency.

Capitalization Zcash (ZEC)

Zcash can now be traded until 90 cryptocurrency exchanges. It is proposed mainly in tandem with Ethereum and Bitcoin. You can also trade directly for fiat and even Polish zloty. On the 04.12.2019 213,5 capitalization is kryptowaluty million USD, and the price 26,73 USD. This is much less than the peak of quotations we had on 7.01.2018 when the rate reached as much as 955,27 USD, and capitalization amounted to over 2,6 billion USD. In the middle of this year, the ZEC exchange rate reached over 113 USD. Since then it has been systematically falling.