$1,333.21

Zcash is a digital currency that prioritizes privacy and confidentiality. It employs zk-SNARK technology, a form of zero-knowledge proof, which enables network participants to validate transactions without exposing any transaction details. This stands in contrast to most cryptocurrencies like Bitcoin, which are pseudonymous rather than anonymous, as they reveal public addresses that can be linked to users through blockchain analysis. Zcash transactions, however, hide sender, receiver, and amount by default, though users can opt to disclose this information for audit or compliance purposes. Launched on October 28, 2016, Zcash was originally derived from Bitcoin's codebase.

Zcash was established in 2016 by Zooko Wilcox-O'Hearn, a cypherpunk and security expert, who also founded the for-profit Electronic Coin Company (ECC) that oversees Zcash's development. With over 25 years in cryptography and information security, Wilcox-O'Hearn has worked on projects like DigiCash, Mojo Nation, and the Tahoe-LAFS filesystem. He also founded Least Authority Enterprises, a company focused on digital security and privacy, and co-created the BLAKE3 cryptographic hash function.

Zcash's distinctiveness lies in its optional privacy features, offering a level of anonymity not found in pseudonymous cryptocurrencies like Bitcoin or Ethereum. Users can choose between transparent transactions, which function like Bitcoin's and are publicly visible on the blockchain, and shielded transactions, which use zero-knowledge proofs to hide transaction details. While transparent transactions expose public addresses that can potentially be traced to real identities through blockchain analysis, shielded transactions ensure that sending and receiving addresses and amounts remain confidential, providing true privacy for users.

Zcash's tokenomics mirror Bitcoin's: it is a mineable token with a maximum supply of 21 million coins. New ZEC is generated through block subsidies, where a fixed amount is minted per block and split 80% to miners and 20% to a founders' reward, which was later replaced. The block subsidy halves periodically to slow issuance. On November 18, 2020, it halved from 6.25 to 3.125 ZEC at block 1,046,400, as part of the Canopy upgrade. This upgrade also redirected the founders' reward to fund a Major Grants Fund, ECC, and Zcash Foundation with 8%, 7%, and 5% respectively. The next upgrade, NU5, was expected on testnet around September 30.

Zcash relies on the proof-of-work consensus mechanism using the SHA-256 hash function, which is part of the SHA-2 algorithm family, the same as Bitcoin. This ensures network security through computational work, making it resistant to attacks and maintaining the integrity of the blockchain.

Zcash is available on several major cryptocurrency exchanges. Some of the platforms where you can purchase ZEC include Binance, HitBTC, Huobi Global, BKEX, and OKEx. These exchanges offer trading pairs for ZEC, allowing users to buy it with other cryptocurrencies or fiat currencies depending on the platform.