What kind of currency is Zcash? Introduction to the official website, circulation and trading platform of Zcash

Zcash, a privacy-centric cryptocurrency, enables anonymous transactions through shielded transactions protected by advanced cryptography techniques, including zk-SNARKs and Sapling.

Oct 18, 2024 at 03:24 pm

Zcash: An Overview

1. What is Zcash?

Zcash is a privacy-focused cryptocurrency that enables users to make anonymous transactions. It was launched in October 2016 as a fork of the Bitcoin protocol. Unlike Bitcoin, which has a transparent blockchain where all transactions are visible to the public, Zcash uses advanced cryptography techniques to protect user privacy.

2. Official Website

The official website of Zcash is: https://z.cash/

3. Circulation

As of July 2023, the circulating supply of Zcash is about 13.4 million ZEC. The total maximum supply of Zcash is 21 million ZEC.

4. Trading Platforms

Zcash can be traded on various cryptocurrency exchanges, including:

• Binance
• Coinbase
• Kraken
• Huobi
• OKX

5. Privacy Features

Zcash offers two types of transactions: transparent transactions and shielded transactions.

• Transparent transactions: These transactions are similar to Bitcoin transactions and are visible on a public blockchain.
• Shielded transactions: These transactions are encrypted using zero-knowledge proofs and provide maximum privacy. The sender, recipient, and amount of the transaction are hidden from public view.

6. Technology

Zcash uses the following key technologies to enhance privacy:

• zk-SNARKs: Zero-knowledge succinct non-interactive arguments of knowledge, which allow users to prove the validity of a transaction without revealing its details.
• Sapling: A new zk-SNARK algorithm introduced in 2018 that significantly improved transaction efficiency and scalability.

7. Use Cases

Zcash is designed for users who value privacy and anonymity. Its potential use cases include:

• Private payments
• Anonymous financial transactions
• Protection of sensitive data
• E-commerce and online gambling
• Whistleblower communication

Conclusion

Zcash is a groundbreaking cryptocurrency that offers a unique combination of privacy and anonymity. Its advanced cryptography techniques and user-friendly interface make it a compelling option for individuals and organizations seeking to protect their financial privacy.