What is ZEC? Detailed introduction to ZEC coin online trading platform and total amount

The article discusses ZEC (Zcash), a privacy-focused cryptocurrency utilizing zero-knowledge proofs for anonymous transactions, with features like privacy, fungibility, and transparent blockchain.

Nov 12, 2024 at 12:21 am

1. What is ZEC?

ZEC, also known as Zcash, is a privacy-focused cryptocurrency that allows users to send and receive transactions without revealing their identities. Launched in 2016, ZEC is based on the Zerocoin protocol, which uses a zero-knowledge proof mechanism to hide transaction information.

2. Key Features of ZEC:

• Privacy: Transactions are encrypted and shielded, protecting sender and recipient identities and transaction details.
• Fungibility: All ZEC coins are interchangeable, meaning they cannot be distinguished from each other, ensuring anonymity.
• Transparency: ZEC uses a transparent blockchain that records all transactions publicly, but privacy is maintained through shielded transactions.

3. ZEC Online Trading Platforms:

Several platforms allow users to trade ZEC online:

• Binance: One of the largest cryptocurrency exchanges in the world, offering a wide range of ZEC trading pairs.
• Coinbase: A user-friendly platform that provides fiat on-ramp and ZEC trading.
• Kraken: Another established cryptocurrency exchange with competitive fees and ZEC trading options.
• Huobi Global: A popular exchange known for its liquidity and ZEC market coverage.
• Gemini: A regulated exchange that provides secure ZEC trading and storage services.

4. Total Amount of ZEC:

The total supply of ZEC is capped at 21 million coins. As of September 2023, approximately 13.9 million ZEC have been mined and released. The block reward for mining ZEC gradually decreases over time, ensuring a stable and predictable emission schedule.