What is Zcash block?

The average block time for the Zcash cryptocurrency is set at 150 seconds that is just two and half minutes. If we start slowly almost 12.5 Z cash cryptocurrency could be mined for every block. Zcash is a unique cryptocurrency which halves its Zcash cryptocurrency creation rate for every passing four years which amounts to almost 8,40,000 mined blocks. Therefore to put this stats in easy terms the Zcash cryptocurrency shall half from the mining of 12.5 Z cash to 6.25 Zcash and consecutively to 3.125 and so on. This size of the block for the Zcash cryptocurrency is 2 megabytes. 

Zcash is that kind of cryptocurrency the stated aim of which is to hide your complete history of payments from the public scrutiny. It is the first-of-its-kind cryptocurrency which is permissionless and is able to completely hide your identity as well as the transactions privacy by deploying its zero knowledge type of cryptography. Z through its unique algorithm is able to encrypt the substance of your transactions which is fully shielded. Because of the reason that the information of the payment remains encrypted this protocol, it is able to use a new age cryptographical method to perform the verification of the validity of the transaction. zk-SNARK is the name of proof construction mechanism which is entirely developed by the team which is behind the advent of Zcash cryptocurrency based on the latest technological innovation in the field of cryptography.

By this zk-SNARK method the blockchain of Zcash cryptocurrency is able to hide the identity of the sender, receiver, as well as the amount in Zcash, transacted, therefore, no third party is able to achieve any know-how about the true identity of the parties involved. In other cryptocurrencies, public demonstration of the sender and transaction values is possible while the metadata related to transaction is the only thing which is encrypted but by using the methodology as proposed by the Zcash team in the form of zk-SNARK one is able to prove that no node in the blockchain is a stealing or cheating.

Connect With Us

Recent Post

Join 100000 + IT pros on our updates