A Higher Level Of Privacy And Confidentiality

Tech

A Higher Level Of Privacy And Confidentiality

Zcash (ZEC) is a privacy-focused cryptocurrency that was launched in 2016.

Zcash was created to enhance privacy and anonymity in cryptocurrency transactions by utilizing advanced cryptographic techniques.

The Zcash protocol is open-source, and its development is governed by the Electric Coin Company, the Zcash Foundation, and the broader Zcash community.

Zcash aims to provide enhanced privacy for cryptocurrency users, allowing them to transact with a higher level of confidentiality compared to other cryptocurrencies like Bitcoin. This privacy feature has made Zcash attractive to users who prioritize anonymity in their transactions.

A new level of privacy and security

Zcash uses a privacy protocol known as “zk-SNARKs” (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge) to enable private and shielded transactions. This allows users to transact with ZEC without revealing the sender, recipient, or transaction amount on the public blockchain.

In addition to shielded transactions, Zcash also supports transparent transactions similar to Bitcoin, where the transaction details are publicly visible on the blockchain.

Zcash offers the option of “selective privacy,” where users can choose to send transactions privately or publicly, depending on their preferences and use cases.

Mining algorithm

Zcash initially used the Equihash proof-of-work mining algorithm. However, it later adopted the Equihash 144,5 algorithm to prevent the use of specialized mining hardware, making mining more accessible to a broader community.

Like Bitcoin, Zcash has a fixed supply. The total supply of ZEC is capped at 21 million coins.