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Zcash is a cryptocurrency based on the blockchain technology, just like Bitcoin. However, the main distinguishing feature of Zcash is that it has a high level of anonymity for users involved in financial transactions. Bitcoin’s blockchain is a public log, where every network member can view all operations ever made. Therefore, in Bitcoin’s blockchain, if you know someone’s address, you may easily find out how much money this person sends to another user. On the contrary, Zcash encrypts this information. However, Zcash’s developers took care of transparent transactions as well – making them absolutely safe and allowing other users see them if a sender or receiver approve this.
Zcash is based on the advanced algorithm zk-snark, which serves to maintain a correct ledger of balances within the network without uncovering user’s information and the amounts of money involved in financial operations. Zk-snark algorithm checks whether a user has the right to spend these coins, making sure that they have not been spent before.
Being an open-source and decentralized platform, Zcash aims to provide the highest level of security to the users, involving advanced features that allow quick and safe operations. Zcash was designed by professional cryptographers with an academic background and that is why this coin is one of the most confidential available on today’s market.
Zcash is built on cryptographic protocols from the ground up. These protocols are designed to cover a sender, a receiver and a sum transferred.
A group of scientists and cryptographers from Johns Hopkins University, Massachusetts Institute of Technology, Technion-Israel Institute of Technology and Tel Aviv University created zk-snark protocol in 2014. Their main aim was making a protocol that allows 100% protection of users’ metadata and encryption that saves coins from being stolen. At the same time, Zcash allows users to make public payments if needed. Zcash’s developers are focused on research and improvement of the way digital money function. Expanding the borders of digital currency is the biggest ambition Zcash’s developers have.
This way, Zcash has both open and shielded addresses, so users can make public and private transactions, depending on their own preferences. In a word, Zcash is created as both confidential and open network that provides different groups of users with functions they are looking for.
Zcash has high capitalization rate and the price for this coin continues to grow because it is one of the most efficient anonymous currencies ever issued. Zcash contents with high demand from the day it was launched and its market value reaches millions of dollars today.
Zcash unique features and advanced algorithms make this coin a nice currency for investors and miners. Therefore, exploring Zcash as an investment option may be a really good idea, considering that its price continues to climb higher. Some experts even claim that with a few improvements in the internal structure, this currency has all chances to become a real king of the crypto market, bringing a fresh approach to financial systems as they are.