Zcash

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Zcash

Zcash

ZEC

ZCash (ZEC) is a cryptocurrency based on a decentralized blockchain, such as Bitcoin, but unlike the latter allows for anonymous transactions (amounts exchanged, users involved in the transaction ...). When you know a person's Bitcoin address, you can track their transactions and you can see the amounts exchanged and to which addresses are sent the funds (or from which addresses the funds received). ZCash wants to address this problem by encrypting all the information about transactions on its network.

ZCash crypto uses ZK-Snarks technology to secure transactions on its network. This allows them to maintain an up-to-date and secure account log while keeping anonymous information about users and amounts exchanged during transactions. The anonymization of financial exchanges is made possible by the use of the ZEC token which is based on a protocol called Zero-Knowledge proof. This makes the exchanges anonymous by clearing the history of the token at the time of the transaction. The user proves that he has a ZEC token at the time of the exchange and the latter is destroyed (burn) to make room for a new blank token (without history) that will be used during the transaction. There is no relationship between the new token and the destroyed token, so it is impossible to make a link between a token and a user.

The ZCash was founded in 2016 by Zooko Wilcox, a cryptographer in his forties. Many crypto-currency juggernauts work on the project or support it. This is particularly the case of Roger Ver, Barry Seibert and Pantera Capital. The ZCash code is open source, the token will be issued to a maximum of 21 million copies, such as Bitcoin. Regarding the mining, a block of ZCash is discovered every 2 minutes 30, against 10 minutes for Bitcoin.
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