What is ZEN coin? Learn what ZEN coin is in one minute

ZEN coin, a privacy-focused cryptocurrency combining Zcash's anonymity with Bitcoin's speed, has seen its price peak at $113 in 2021, before falling to $20 as of May 2023.

Oct 01, 2024 at 07:53 pm

1. What is ZEN coin?

ZEN is a privacy-focused cryptocurrency that combines the anonymity features of Zcash with the fast transaction times of Bitcoin. ZEN is designed to provide users with a secure and private way to send and receive funds, without sacrificing speed or efficiency. The price of ZEN reached its peak at around US$113 in 13 October 2021, and then declined to US$20 as of 26 May 2023.

2. How does ZEN coin work?

ZEN uses a combination of zero-knowledge proofs and shielded transactions to provide users with anonymity. Zero-knowledge proofs allow users to prove that they know a certain piece of information without revealing that information itself. Shielded transactions use encryption to hide the sender, recipient, and amount of a transaction. This combination of technologies makes it very difficult to trace ZEN transactions or identify the users involved.

3. What are the benefits of using ZEN coin?

There are several benefits to using ZEN coin, including:

• Privacy: ZEN coin provides users with a high level of privacy, making it difficult to trace transactions or identify the users involved.
• Speed: ZEN coin transactions are processed quickly, with an average confirmation time of just 2.5 minutes.
• Security: ZEN coin is built on the Bitcoin blockchain, which is one of the most secure blockchains in the world.
• Fungibility: ZEN coin is fungible, meaning that all ZEN coins are equal in value and can be exchanged for one another.

4. Where can I buy ZEN coins?

ZEN coins can be purchased on a variety of cryptocurrency exchanges, including Binance, Huobi, and OKEx.

5. What is the future of ZEN coin?

The future of ZEN coin is uncertain, but it has the potential to become a major player in the privacy-focused cryptocurrency market. The team behind ZEN coin is constantly working to improve the technology and add new features, and the coin has a strong community of supporters.