Zcash
$489.09
1.6%(24h)30d
Today
1.6%
30 Days
-1.8%
Price Change (24h)
$7.72
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1.6%
30 Days
-1.8%
Price Change (24h)
$7.72
ZEC
4,890.90
Zcash is a privacy-focused decentralized cryptocurrency employing zk-SNARK zero-knowledge proof technology enabling network nodes to verify transactions without revealing sensitive transaction details. Contrary to common misconception, most market cryptocurrencies including Bitcoin are pseudonymous, not anonymous. Users maintain public addresses traceable through blockchain analysis and data science methods. Zcash, conversely, defaults to non-revealing sending and receiving addresses and transaction amounts over public blockchains. Optionally, transaction data can be disclosed for regulatory compliance or auditing purposes. Released October 28, 2016 and originally Bitcoin-based, Zcash launched with privacy fundamentals from inception.
Zooko Wilcox-O'Hearn, cypherpunk and computer security expert, founded Zcash in 2016 and established the for-profit Electronic Coin Company managing Zcash development. Over 25 years in cryptography and information security, Wilcox-O'Hearn contributed to DigiCash (defunct electronic money), Mojo Nation (peer-to-peer data storage), and Tahoe Least-Authority File Store. He founded Least Authority Enterprises (digital security and privacy-focused) and co-invented BLAKE3 cryptographic hash function.
Zcash’s main advantage lies in its optional anonymity, which allows for a level of privacy unattainable with regular, pseudonymous cryptocurrencies like Bitcoin or Ethereum. ZEC transactions can be sent in two ways: transparent and shielded. Transparent transactions work in about the same way as in Bitcoin, whose codebase Zcash was originally based on: they are sent between public addresses and are recorded on an immutable public ledger (the blockchain). All essential information about these transactions is available online for anyone to see, including the sending and receiving addresses and the amount sent. These public transactions do not reveal user identities in an overt manner: the only identifiers an outside observer can access from the blockchain are public addresses. However, through the efforts of data scientists and law enforcement over recent years, the methods of blockchain analysis have been developed to the point where an interested party can fairly reliably connect a public address on a blockchain to the real-world identity of its owner, essentially making private transactions impossible. Shielded ZEC transactions, on the other hand, leverage the technology of zero-knowledge succinct non-interactive arguments of knowledge, or zk-SNARKs, in order to enable completely anonymous transactions to be sent over a public immutable blockchain. The fact that the transaction _has _happened is recorded on the ledger, but the sending and receiving addresses and the amount sent is not revealed to the public. This allows Zcash to offer its users the right to privacy while still enjoying the advantages of a decentralized, permissionless digital currency.
Overall, Zcash tokenomics is similar to that of Bitcoin: it is a scarce mineable token with a total supply limit of 21 million coins. New ZECs are created in the form of “block subsidiesâ€: whenever a new block is mined and added to the end of the blockchain, a certain amount of coins is minted and split into “miner subsidy†and “founders’ reward†at a ratio of 80 to 20 percent respectively. The block subsidy is halved at regular intervals to slow down the issuance rate as the total supply of ZEC approaches its limit of 21 million. The miner subsidy goes to the miner who has mined the latest block and the founders’ reward is distributed between Electronic Coin Company (ECC) founders, Zcash Foundation and ECC itself, as well as its employees. On Nov. 18, 2020, the block subsidy was halved from 6.25 ZEC to 3.125 ZEC, which was triggered at block 1,046,400. This was introduced under the Zcash Canopy upgrade, which also removed the Founders Reward. Instead, the remaining 20% will be divided among the Major Grants Fund, ECC and Zcash Foundation, at 8%, 7% and 5% respectively. The next, and fifth, Zcash network upgrade — Zcash NU5 — is estimated to go live on the testnet on Sept. 30, 2021. Since launch there has been substantial interest in the ZEC to AUD and ZEC to EUR price pairs.
Zcash network employs proof-of-work SHA-256 hash function from SHA-2 algorithm sets — identical to Bitcoin's security approach.
Zcash is a high-ranking cryptocurrency. It is possible to buy Zcash on a number of major exchanges, some of which are: * Binance * HitBTC * Huobi Global * BKEX * OKEx
Exchange data unavailable.
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