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Zcash is a digital currency that offers privacy and selective transparency of transactions. Zcash is based on peer-reviewed cryptographic research, and built by a security-specialized engineering team on an open source platform based on Bitcoin Core’s battle-tested codebase. Our mission is to empower everyone with economic freedom and opportunity.
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Introduction
Zcash (ZEC) is a digital currency that offers privacy and selective transparency of transactions. Zcash is built on the Zerocoin protocol and uses zero-knowledge proofs to secure transactions.
What is ZEC?
ZEC is a cryptocurrency that was created to provide privacy and security for its users. It is based on the Zerocoin protocol and uses the zk-SNARKS zero-knowledge proof system to keep transactions private. ZEC is also fungible, meaning that each coin is interchangeable with another. This makes it ideal for use in commerce and trading.
Zcash’s Features
ZEC is a privacy-centered cryptocurrency that launched in 2016. It uses the Equihash proof-of-work (PoW) algorithm and offers privacy via zero-knowledge proofs. The Zcash team has also proposed new Ethereum improvement protocols (EIPs).
Zcash’s main features are its anonymity and privacy features. All transactions on the Zcash blockchain are private by default, meaning that sender, recipient, and transaction amount information is hidden from public view. However, users have the option of making “selective disclosure” transactions, in which some data is revealed.
In addition to its privacy features, Zcash also offers users increased security and fungibility. Because all transaction data is hidden, it is more difficult for attackers to target specific users or funds. In addition, because each Zcash coin is indistinguishable from any other, Zcash is more resistant to counterfeiting and Double-Spending than other cryptocurrencies.
How Zcash Works
Zcash is a decentralized and open-source cryptocurrency that offers privacy and selective transparency of transactions. Zcash payments are published on a public blockchain, but the sender, recipient, and amount of a transaction may remain private.
The U.S. Securities and Exchange Commission (SEC) has classified Zcash as a commodity, like gold or oil. The Commodity Futures Trading Commission (CFTC) has also established jurisdiction over digital currencies, including Zcash.
Zcash uses advanced cryptographic techniques, known as zero-knowledge proofs, to ensure that all information concerning transaction details is securely encrypted, while still verifiable by entrepreneurs and auditors. These zero-knowledge proofs allow transactions to be validated without revealing the sender, receiver, or amount involved in the transaction. Thus, Zcash affords users the option to conduct private or public transactions.
The History of Zcash
Zcash is a cryptocurrency that offers privacy and selective transparency of transactions. Zcash is based on the Zerocoin protocol, which was improved and became Zerocash, and then developed into the current Zcash. Zcash is based on Bitcoin’s codebase and uses the same proof-of-work algorithm.
The Zerocoin Protocol
The Zerocoin protocol was created by John Hopkins University professor Matthew D. Green and his graduate students Ian Miers and Christina Garman. The protocol was first implemented as a fork of the Bitcoin blockchain and launched as Zerocoin in 2013.
The protocol allows users to send and receive coins with enhanced privacy. When a user sends a Zerocoin-protected transaction, their coin is converted into a random cryptographic number which is then broadcasted on the blockchain. The coin can later be redeemed for another Zerocoin with no connection to the original transaction. This makes it difficult for outside observers to determine which transactions are connected.
In 2016, the Zerocoin protocol was improved and rebranded as Zcash. The new cryptocurrency offers improved privacy features and security enhancements.
The Zerocash System
Zcash is a distributed and decentralized open-source cryptocurrency that offers privacy and selective transparency of transactions. Zcash payments are published on a public blockchain, but the sender, recipient, and amount of a transaction remain private.
Zcash is based on the Zerocash protocol, which improves upon the Zerocoin protocol. Both protocols are contributions to cryptocurrency and blockchain research from Matthew D. Green at Johns Hopkins University.
The Zerocash system was created in 2014 by Eli Ben-Sasson, Alessandro Chiesa, Christina Garman, Matthew Green, Ian Miers, Eran Tromer, and Madars Virza. The improved Zerocash protocol was first described in a research paper “Decentralizing Privacy: Using Blockchain to Protect Personal Data” co-authored by Matthew Green and Ian Miers and published in early 2015. Full ZeroCash protocol specifications were published in May of 2015 in “Zerocash: Decentralized Anonymous Payments from Bitcoin” co-authored by Eli Ben Sasson, Alessandro Chiesa, Matthew Green, Ian Miers, Eran Tromer, and Madars Virza .
Zcash’s Potential
Zcash (ZEC) is a digital currency that offers privacy and selective transparency of transactions. Zcash payments are published on a public blockchain, but the sender, recipient, and value of a transaction remain private.
Zcash is based on peer-reviewed cryptographic research, and built by a security-focused engineering team on an open source platform based on Bitcoin Core’s battle-tested codebase. Our goal is to deliver privacy-by-design and empower everyone with user-friendly tools to protect their fundamental architecture of Personal Liberty.
Conclusion
ZEC is a great cryptocurrency for investors and traders who are looking for privacy and anonymity. The coin has a strong team behind it, a well-designed technology, and a growing community. While the price of ZEC is still volatile, the long-term outlook for the coin is positive.
