Zcash

On the basis of Bitcoin, many different cryptocurrencies have been developed. One of them is Zcash. This coin has much in common with the original Bitcoin but is also characterized by many significant differences. The Blockchain technology that is used on the Zcash platform has a high anonymity system. Below you will find out more information about this popular coin.

Basic information

Cryptocurrencies are under constant attack by various scammers. Many developers tried to create a platform with maximum security indicators. Zcash system has this feature. It was created in 2016.

Zcash is an electronic coin developed on the improved Blockchain protocol. The project is open source. At the same time, all payments made within the system remain completely anonymous. This platform is decentralized, just like Bitcoin. It has the same properties as most digital currencies.

The coin was developed by the company ZEC. It initially worked on the Zerocoin project. Subsequently, it underwent significant changes. The project eliminated various shortcomings. The updated platform received another name – Zcash.

This system is characterized by the fact that transactions from one wallet to another are carried out directly. Data about account holders and their transactions is well protected on the platform. Data on transactions carried out within the system are recorded in the Blockchain. However, it is not possible to see the wallet addresses as well as the amount of money transferred.

Zcash coin began to fully function in 2018. It quickly attracted the attention of members of the cryptocurrency community and became popular among miners.

Key features and functioning of the platform

Zcash was created based on the Bitcoin Core code, developed by the legendary Satoshi Nakamoto. ZEC company programmers have significantly improved it by changing the anonymity protocol in it. When cryptocurrency was created, a number of innovative solutions were used. The essence of the new protocol is to confirm transfers without taking into account information on the amount, balance on the wallet and user data.

Access to the listed information is closed from public viewing. There is no registry in which you can find out information about all transactions in the system, as it is implemented on the Bitcoin platform. The system participant can decide whether to conceal the transaction data or not. If the transfer is from a concealed wallet to an open one, only the data about the latter will be publicly available.

Cryptocurrency advantages

The main advantage of Zcash over similar projects is the high anonymity of transactions. Another advantage of the platform – the complexity of mining coins. Mining this currency is quite profitable. One does not need to use expensive equipment for mining these coins, as implemented on other platforms.

Trading and Zcash

The cryptocurrency in question, like other electronic money, is very volatile. Due to this property, it is very popular among traders. At the same time, Zcash is a liquid instrument that is widely used as a means of payment.

After the appearance of the coin on cryptocurrency exchanges, its exchange rate went up sharply. Many investors and traders have managed to earn good profits. The currency also experienced several periods of a severe reduction in price. In general, Zcash can be effectively used for speculation to make good profits.