About Zcash

About Zcash

Launched in 2016 by Zooko Wilcox-O’Hearn and based on the Zerocoin protocol, Zcash (ZEC) is a decentralized and open-source privacy-focused cryptocurrency that enables selective transparency of transactions. Zcash transactions can either be transparent or shielded through a zero-knowledge proof called zk-SNARKs. This allows the network to maintain a security ledger of balances without disclosing the parties or amounts involved. Instead of publishing then spend-authority and transaction values, the transaction were metadata that is being encrypted and zk-SNARKs are used to prove that nobody is being dishonesty of the both parties.