After Bitcoin hit the market in 2009, many alternate cryptocurrencies have been launched as a fork of Bitcoin’s core blockchain technology. Many of these were eventually termed as private coins, simply owing to the fact that these came up with upgraded features that centred around user safety and privacy- something that Bitcoin inherently lacked. ZCash is unique in this regard as it offers added security and privacy to its users. While all the transactions are recorded and published on the decentralized, open-source blockchain, personal details such as the identity of the sender, receiver and the amount of transaction as kept private through end-to-end encryption.
The concept of ZCash was formulated long back in the year 2013 and the project was then named Zerocoin. It was the collaborated efforts of Ian Miers, Matthew Green, Aviel D. Rubin and Christina Garman at the The Johns Hopkins University, Baltimore, USA. This project aimed to address the issue of privacy that the Bitcoin users were facing. It is not exactly known when the Zerocoin team joined forces with Zooko and his team of developers. Zooko publicly mentioned about the new Zerocash in May 2015 and finally launched it as ZCash in 2016.
ZCash uses a cutting-edge cryptographic technique known as zk-SNARK. This zero-knowledge protocol not only authenticates transactions but also ensures the security of the ledger by hiding private information. ZCash has a total supply of 21 million coins just like Bitcoin. ZCash has allotted 20% of the total coins created during the first 4 years as ‘Founder’s Reward’, which will be distributed among developers, investors and a non-profit organization. It offers two kinds of transactions- Transparent or ‘T’ transactions that are similar to Bitcoin, and Shielded or ‘Z’ transactions wherein the identity of the sender/recipient as well the transaction amount is protected. ZCash comes with the advanced fungibility feature where the coins remain equally interchangeable.
Mining is a profitable deal for those who do not wish to purchase this cryptocurrency. You can either join a mining pool or create your own mining rig to start mining Zcash
According to experts, if you are not proactive regarding the reputation management of your firm, then you are in for a world of trouble. You are in qu
The Bitcoin industry is one such industry that has seen the maximum ups and downs all around the world. Some countries banned it and some welcomed it
Mark Cuban June-05-2018
On 29th April 2018, UNICEF Australia proclaimed an initiative which allows a user to hand over his o
There was a time when 10,000 BTC coins would buy 2 pizzas. This was around 8 years back. Now, one
In its past reports, CCN made a note that the 8,200 USD resistance level seems to be a crucial st
Tony Scott May-16-2018
In a meeting with CNBC this Monday, i.e. 14th May, a top-rated policymaker of the US spoke in sup
Jeremy Liew May-08-2018
Sergey Brin, the co-founder of Google says Ethereum mining has assumed an important part in the curr
Tony Scott May-07-2018
The Bitcoin blockchain left its mark in April with the 17 millionth Bitcoin being mined. In case you
Tony Scott May-05-2018
Bitcoin and Ethereum are two world-renowned cryptocurrencies that have led the crypto market and sur
Jeremy Liew May-04-2018
Today, digital currencies are doing kind of things that investors and Wall Street have never seen be
After long, the world’s most popular cryptocurrency, Bitcoin seems to come back. The &lsquo