Zcash is a cryptocurrency based on decentralized blockchain that brings to light an advanced technique. Nobody will know how much cryptocurrency you buy, sell or exchange on the marketplace. Sounds great, don’t you think?
The platform was launched in October 2016 by the CEO Zooko Wilcox-O’Heam – a computer security specialist. The platform’s mission is to “create an open, global economic platform from which no-one can be excluded”.
The functionality of Zcash cryptocurrency
Zcash or ZEC works with an advanced algorithm. This one is making your trades being anonymous to everyone. The realization of this innovation was possible due to the special proof of construction called zk-snark. This was designed with the main purpose of improving the Bitcoin’s privacy. The zk-snark cryptographic technology is checking the validity of information without publishing any confidential details.
Because of marketplace’s totally unsecured system, the private key of each user isn’t actually too private. The user’s addresses can be viewed by other partners or marketers. Fortunately, Zcash encrypted all the transactions details. It is an innovative cryptography that changed the way a blockchain is seen.
Do you need a specific wallet?
Zcash’s own wallets that provides the private addresses necessary before operating with any transactions are: zcash4win (for Windows), zcash (for Linux) and zcash4mac (for Mac).
The Advantages of Zcash cryptocurrency
– Why buying cryptocurrencies where every marketer can see how much money you invest in it? The Zcash has designed a new technique that guarantees your anonymity. They projected a proof of construction algorithm, called zk-snark which assure your transactions with highest security.
– The enterprise was funded by private investors, this means that we can exclude the situation where the blockchain is manipulated;
– Nobody can take the custody on your own tokens;
– High security is the main principle of the company;
– The platform isn’t built on Bitcoin blockchain, so you do not need to worry about attacks realized on the highest cryptocurrency in the world – Bitcoin.
The Disadvantages of Zcash currency
– The total amount of Zcash that can circulate at the global range is 21 million coins;
– Many of transactions need a large amount of computer memory;
– Zcash’s privacy is stronger when you operate transactions between Zcash cryptocurrencies;
– Zcash provides multi-signature transactions, but these aren’t more secure than Bitcoin’s technique.
Zcash implemented a new technique in blockchain’s networks. It is the first open and less permissive cryptocurrency that can protect your transactions completely using zero-knowledge cryptography.
Did we make you curious about platform’s innovative technique? We recommend you to check all the strengths and weaknesses about Zcash cryptocurrency before taking any decision.
To stay updated with fresh news follow Zcash’s official website.