Information About Zcash
What is Zcash?
Zcash is a decentralized & open source cryptocurrency. Therefore, it was developed by the Zerocoin Electric Coin Company. Hence, it offers privacy and selective transparency of transactions.
The coin’s protocol was develop in 2014 through collaboration of Zerocoin researches at John Hopkins University and a group of cryptographers at the Massachusetts Institute of Technolgy.
Therefore, it was formally announces by ZECC CEO Zooko Wilcox- O’Hearnon January 20, 2016.
How it works:
Zcash uses a zero knowledge proof construction called Zk-SNARK. These ZK-SNARKS. Therefore, helpful in proving that nobody is cheating or stealing as the transaction metadata encryptes.
- It allows the network to maintain a secure ledger of balances. Henceforth, without disclosing the parties or amounts involved.
- It has the ability to turn on anonymity features.
- Henceforth, built in exchange conforms to similar look to that of Bit Trex.
- It allows for mining via three different algorithms: XII, Blake -256 and Sha-256.
The cryptocurrency is integrating arbitrage trading into web interface for coin holders in order to trade across various exchanges they integrate.
Accordingly, coin’s security is highly experimental and relatively weak.
Zcash offers interested parties the ability to mine blocks. Therefore, the zero cash protocol harnesses a proof – of work algorithm which relies on how much RAM a miner owns.