Zcash

ZCash Information | What is Zcash Cryptocurrency| Zcash Exchange

Zcash Information

Algorithm Equihash
Proof type PoW
Start date 28/10/2016
Coin Tag ZEC
Website Zcash

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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.

History:

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.

Benefits:

  •  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.

Future Goal:

The cryptocurrency is integrating arbitrage trading into web interface for coin holders in order to trade across various exchanges they integrate.

Security concerns:

Accordingly, coin’s security is highly experimental and relatively weak.

Mining:

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.

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