What is the issue volume of ZEC coin? One article to introduce the application scenarios of ZEC coin

With a total supply capped at 21 million and 13.32 million ZEC coins currently in circulation, ZEC coin serves diverse applications ranging from encrypted transactions and smart contracts to DeFi, gaming, marketplaces, and supply chain management.

Nov 02, 2024 at 12:14 am

ZEC Coin: Issue Volume and Application Scenarios

1. Issue Volume of ZEC Coin

The total supply of ZEC coins is capped at 21 million, similar to Bitcoin's issuance. As of July 2023, approximately 13.32 million ZEC coins have been issued, representing approximately 63.5% of the total supply.

2. Application Scenarios of ZEC Coin

ZEC coin serves as the native cryptocurrency on the Zcash blockchain and has a wide range of application scenarios, including:

a. Encrypted Transactions:

• ZEC enables fully private transactions, allowing users to send and receive funds anonymously. This privacy feature is achieved through zero-knowledge proofs, which allow users to prove transactions without revealing personal information.

b. Smart Contracts:

• Zcash supports the development and execution of smart contracts, which can automate complex transactions and operations on the blockchain. ZEC serves as the gas fee for smart contract execution.

c. Decentralized Finance (DeFi):

• ZEC can be integrated into DeFi applications, enabling users to access decentralized financial services such as lending, borrowing, and stablecoins.

d. Gaming and Entertainment:

• ZEC is used in various games and entertainment platforms that offer in-game rewards, collectibles, and other incentives.

e. Marketplaces:

• ZEC facilitates private or semi-private transactions in online marketplaces, protecting the privacy and security of buyers and sellers.

f. Supply Chain Management:

• ZEC's privacy features make it suitable for use in supply chain management, enabling secure and transparent tracking of goods and materials.

Conclusion

ZEC coin plays a crucial role in the Zcash blockchain, providing enhanced privacy, security, and fungibility for users. Its diverse application scenarios across various industries underscore its potential as a valuable and versatile cryptocurrency.