More like to other cryptocurrencies Zcash (ZEC) is also a Cryptocurrency but more similar to bitcoin with a few different features. Zcash is a peer to peer cryptocurrency but with most of its focus on privacy, anonymity, and security.
It was created at the end of 2016 by using the fork of original bitcoin. Since people are the fan of Bitcoin; they also like to try bitcoin alternatives as well but with some extra features. Zcash hides the information of sender & receiver but only date & time are visible.
Zcash has a large team of employees, scientist, and advisors:
Zcash is based on a special proof of work called zk-snark. Which is responsible for creating a secure yet private connection between parties without disclosing their personal information. All this works through Zero-Knowledge Proof protocol. This protocol confirms that nothing will be exchanged between parties while performing a transaction during an established connection.
- Better transparency and security checks
- Gives more rights of governance to users without disclosing sender & receiver
- Block time is improved than ever before
- Anonymity can cause of unfair usage
- Development is yet continued but limited
A detailed document covers all aspects of the project from technical perspectives. They have explained the core cryptographic schemes & zero-knowledge proving system.
It is peer to peer currency which means anyone can use it to transfer funds faster than other methods, cheaper than usual fees and privately to anyone. While we use the traditional way of sending money from one country to another country it takes days and third parties in between to complete the transaction, but with Zcash you are free from all the hassle.
Blockchain market is really difficult to predict but still everyday a number of platforms are being created and numerous DApps are developed using those blockchain projects. Zcash has a good name associated with it and some extra features of anonymity which are giving him a new hype.
It uses the original code of bitcoin but has upgraded it with security and privacy checks. In bitcoin if someone knows an address he can track the transactions and amounts whereas in Zcash no one can see what and how much is moving around; all is encrypted.
Following are the main investors of Zcash:
A very detailed roadmap has been proposed with following highlights:
- Reference User Waller
- Privacy Adoption
- Protocol Research & development
- Ongoing Business Development & Marketing
- Ongoing Maintenance & Support
- Decentralization Support
Zcash is performing very well since 2016 and already secured a reputable place in the market. It’s still growing with the very stable market cap. People are really positive to use it instead of Bitcoin because of cheaper mining equipment and Zero-knowledge proof works.
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