Here is another episode of our CryptoCurrency series. In this article, we will introducing anonymous type of cryptocurrency. Are you familiar to Zcash? Well, yes if you are interested in cryprocurrencies. Just like our previous articles, Bitcoin(BTC), Litecoin(LTC), Dogecoin(Doge) are very familiar due to their popularity and prices in markets. Today, another unfamiliar or anonymous cryptocurrency is we are going to dig its hidden informations. Just cointinue to read and you will find out!
Zcash Coin (ZEC)
According to investopedia.com, Zcash(ZEC) is a cryptocurrency with a decentralized blockchain that seek to provide anonymity for its users and their transactions. Zcash is similar to Bitcoin. Like Bitcoin, it also has an open-source code, but their major difference lie in the level of privacy and fungibility. Zcash was founded by Zooko Wilcox-O' Hearn in October 2016.
Zcash Summary and Facts
Name
Zcash previous name was ZeroCash currency but later it was renamed to Zcash in 2016.
Ledger
Zcash also uses public ledger for receiving payments like other top cryptocurrency like Bitcoin, Dogecoin etc.
zk-SNARKS
zk-SNARKS can privatized transactions. Members can use this innovative system if they want their transaction is private.zk-SNARKS is a zero-knowledge cryptography that hides the amount and the recipient of the proected transactions.
Supplies
Zcash has limited supplies like Bitcoin. It only has maximum supply of Zcash capped at 21 million units.
Team
Zcash team is consist of engineers, scientist,cryptographers and advisors including Zookoo Wilcox, Christine German, Alexandro Chiesa, Roger Ver and Gary.
Payment Method
Anyone can buy Zcash Coin using creditcards or debit cards.
Founder Reward
It has founder reward system. In every number of Zcash coin are mined, 20% out of it is belongs to the Founder Team.
Foundation Reward
It has Zcash foundation, the 10% out of founder reward will donated to Foundation Reward.
Blockchain-based
Zcash transactions are also recorded by blockchain. Meaning all transactions are encrypted that can only view by users who given acces for it.
Hidding Info
In every transactions, users addresses recorded by blockchain are not the actual address of users. This will lead to impossibly trace the given funds or receive from transaction process.
Rank
Zcash(ZEC) is ranked 26 on Coinmarket Cap list of popular cryptocurrencies.
Capital
Zcash total capitalization is $403 million in april 30,2020.
All time high/low price
Zcash all time high is $3,191.93 in October 29, 2016 and all time low price is $19,75 in March 13, 2020. As of October 2020, Zcash price is currently $67.74.
Transaction Fees
The default transaction fee is set at 0.0001 ZEC. The same fee as default fee. Using it, transparent and shielded transactions have the same fee that way, privacy doesn't cost more for users
Transaction Time
Transaction time is estimated to 60 minutes
Every cryptocurrencies has different purposes, different purposes ,histories and values. Some are very recognized due to its supportive community and active developers. Some are hidding and waiting to be recognize by us. Preparing for its massive launch to break the world of Cryptocurrency!
Thank you for reading!💜
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