Cryptocurrency is gaining more and more acceptance and justifiably so. Many people already know about Bitcoin, Ethereum, and other large-scale litecoins.
But with the current passage of time, the issue of privacy of yourself online and your assets is becoming more and more pressing. So it's time to look into a project like Zcash, which is considered one of the most promising tokens with a high level of anonymity compared to the above mentioned ones.
It is the first blockchain-based open-source digital asset. The coin appeared on October 28, 2016, with a maximum coin issue of 21 million tokens (like Bitcoin). Zcash takes the bitcoin framework as the basis of its project.
Zcash or ZEC is a cryptocurrency built on a decentralized blockchain that includes open source code. This is its main similarity to the First cryptocurrency.
But with the current passage of time, the issue of privacy of yourself online and your assets is becoming more and more pressing. So it's time to look into a project like Zcash, which is considered one of the most promising tokens with a high level of anonymity compared to the above mentioned ones.
It is the first blockchain-based open-source digital asset. The coin appeared on October 28, 2016, with a maximum coin issue of 21 million tokens (like Bitcoin). Zcash takes the bitcoin framework as the basis of its project.
Zcash or ZEC is a cryptocurrency built on a decentralized blockchain that includes open source code. This is its main similarity to the First cryptocurrency.
Anonymity and functionality
The system was designed to provide anonymity to users and their transactions. ZEC enhances privacy by applying zero-knowledge proof protocols (zk-SNARKs). This allows users to confirm transactions without disclosing information that could affect privacy. At the same time, this cryptocurrency has an interesting feature. ZEC allows users to share addresses and transaction information that they can choose to comply with audit and regulatory requirements.
According to the developers, ZEC is based on a strong scientific and technological foundation. Let's take a closer look at ZEC addresses. They are divided into two types:
According to the developers, ZEC is based on a strong scientific and technological foundation. Let's take a closer look at ZEC addresses. They are divided into two types:
- Z-addresses
- T-addresses
Z-addresses are private and t-addresses are transparent. There are four types of transactions between these address types, the two address types are interconnected. You can transfer funds between both address types. The only requirement is to be aware of the implications of privacy principles.
The key advantages of Zcash are low interest rates, anonymity of users and transactions, disclosure of payment data to third parties, expiration of transactions, and multiple signatures for transactions.
The developers guarantee virtually mathematical anonymity to users by using a decentralized system with a public blockchain. Such a distinctive feature makes the cryptocurrency quite in demand, as even Bitcoin itself can compete with the level of privacy.
Zcash together with Parity Technologies have developed new software. It is about the implementation of the fourth Zebra solution for the project's public network.
Zebra is an independent, consensus-compliant implementation of the Zcash node that is currently under development. It can be used to join the Zcash peer-to-peer network, which helps to keep the blockchain running by verifying transactions as well as maintaining Zcash state in a distributed manner.
The key advantages of Zcash are low interest rates, anonymity of users and transactions, disclosure of payment data to third parties, expiration of transactions, and multiple signatures for transactions.
The developers guarantee virtually mathematical anonymity to users by using a decentralized system with a public blockchain. Such a distinctive feature makes the cryptocurrency quite in demand, as even Bitcoin itself can compete with the level of privacy.
Zcash together with Parity Technologies have developed new software. It is about the implementation of the fourth Zebra solution for the project's public network.
Zebra is an independent, consensus-compliant implementation of the Zcash node that is currently under development. It can be used to join the Zcash peer-to-peer network, which helps to keep the blockchain running by verifying transactions as well as maintaining Zcash state in a distributed manner.
The main advantages of the node are:
- Improved performance
- Improved security
Since it is developed in a memory-safe language (Rust), Zebra is less likely to be prone to memory security errors.
- Better management
With the deployment of the new node, there will be more developers who can implement various features for the Zcash network.
Bottom line
Based on the above, and from the existing political and economic aspects around the world, we can assume that in the near future the price of ZEC may go up, now everyone wants to save their money, and even better to increase it and accordingly will continue to build business processes (trade, supply) connecting more and more cryptocurrency. And ZEC can provide a lot of support in this regard.
Seeing that the project is developing, supplemented and in every possible way shows the desire to go further, attracts new developers, it inspires the idea that the project is working, its reliability, as well as that it is not forgotten and not abandoned.
It should also be understood that Zcash has already had cases of delisting from exchanges, as it was required by one or another regulator, although at the same time decentralized platforms do not care about such requirements. But another important point is to prove the origin of funds after the financial transactions, this point will have to be dealt with, if you are going to withdraw in fiat, at least through some official exchange offices....
Seeing that the project is developing, supplemented and in every possible way shows the desire to go further, attracts new developers, it inspires the idea that the project is working, its reliability, as well as that it is not forgotten and not abandoned.
It should also be understood that Zcash has already had cases of delisting from exchanges, as it was required by one or another regulator, although at the same time decentralized platforms do not care about such requirements. But another important point is to prove the origin of funds after the financial transactions, this point will have to be dealt with, if you are going to withdraw in fiat, at least through some official exchange offices....
