Everyone needs a certain amount of privacy in their lives and I am pretty sure you want it too. Right?
While a privacy in your financial life is the utmost important thing you urge to maintain. Privacy of financial position is one of the most important keys that most of the user wants to have.
Then why should the world of cryptocurrency lag behind? Every now and then, new crypto coins are launching in the market that ensures a highest and variable features for privacy.
By now you must be thinking about why you need a privacy protection in digital or altcoins. So let us clear you with that fact that all your Bitcoin or digital coins transactions are recorded or shown in a public ledger.
All the profile of your digital currency can be seen by other crowds of digital currency too. How many coins you have? Between whom the coins are transacted and by how much all are recorded and is shown in a public ledger
For instance, suppose you have transacted a large number of your cryptos to someone but you want your and other individual names to be anonymous. Then some of the cryptocurrency assures you that anonymity which bitcoin does not provide you this feature.
If you haven’t gone through the detailed review of Monero (XMR) yet, then go through it now. It is also a cryptocurrency that is anonymous by default. It assures you a complete privacy to all your transaction record.
While much of the cryptocurrency assure privacy but actually they are not suitable for your every need to remain anonymous. Apart from Monero, another cryptocurrency that assures you a variable amount of privacy is Zcash (ZEC).
Out of the diverse option, Zcash is one such great deal of choice to choose from. It has also achieved a widespread use to remain an anonymous user by crypto coins freaks.
So, without any further delay let’s start with what actually a Zcash is?
What is Zcash (ZEC)?
|Symbol||Initial release date||Algorithm type||Max. supply|
28 October 2016
21 million ZEC
Zcash is a decentralized cryptocurrency that provides anonymity to its users along with transparent and shielded transactions.
As a digital currency, Zcash is much similar to Bitcoins. It also provides open source feature. But the major difference lies in the feature of privacy and fungibility (goods or assets exchange with other goods of the same type).
Zcash allows users to exchange information with each other without revealing their identity and amount of transaction involved. All the data are secured by the end to end encryption which ensures no information is being stolen or shown to any third party.
It is being operated or run by Zerocoin Electric Coin Company and is lead Zooko Wilcox. The main aim of Zcash is to provide a new level of privacy to its user with cryptography.
Now after you know what is Zcash let’s see how it works?
How does Zcash work?
Zcash transactions are shielded and secured. Since the information of all the transaction record is an end to end encryption, it uses a protocol to identify or verify the validity.
It enables users to transact their coins similar to Bitcoins. With Zero proof technology, it provides complete anonymity to you that hides all your information and profile of your identity to the safe and secure transaction.
By the feature of both shielded and transparent address, users are able to send Zcash coins privately and publicly according to their convenience.
The transaction from shielded to transparent address reveal the receiving value of coins while on the other hand transaction from transparent to shielded address does not show the value, basically, it protects it.
Why Zcash is Needed?
The key features you should know of why you can invest in Zcash are listed below:
- Fungible Cryptocurrency: Fungible means that it can be equally interchangeable for one good to another good. It assures save value when interchange. Zcash fungibility to digital coins by unlinking coins that are shielded from the blockchain.
- Enables new application: The feature of zero-knowledge proofs are completely encrypted and ensures safe transactions. This new feature provides user entire new blockchain applications that can be built.
- Privacy: In a modern world, both individuals and companies want their information of transaction to be private. So, you can enjoy the use of public blockchain, while still being sure that all your information is not being stolen.
After you know why you can opt for Zcash le us move ahead with the methods of how you can buy it?
How to buy Zcash?
Buying a Zcash directly in a fiat currency is quite difficult and rare. So to provide you with the method of exchanging it from Bitcoin via Changelly or Shapeshift are listed below.
- From Changelly:
Exchanging your BTC/ETH into Zcash via changelly is quite a simple task to do.
You need to have the following things to acquire your Zcash.
- Your Zcash address where you want to get your Zcash coins.
- Some ETH/BTC/altcoins to exchange it for changelly.
You must follow our complete guide to exchange your Bitcoins for Zcash.
- From ShapeShift:
Another way to buy your Zcash coins is to exchange your BTC/ETH/Altcoins via ShapeShift.
To convert your Altcoins into Zcash you need two things:
- Bitcoin/Ethereum/altcoins to change it for Zcash.
- Zcash wallet address.
You can also get your Zcash coin with Debit Card, PayPal etc. To get your Zcash coin from other way click here.
Best Zcash wallets are:
I would recommend you to read our exclusive article about the top Zcash wallet to keep your Zcash safe.
After you know how to acquire your Zcash let’s get to know about the team Zcash.
The Team Zcash includes Scientists, Engineers, Advisors, Outside counsel and Investors.
Apart, from other team members, the founder and chief executive officer of Zcash are Zooko Wilcox.
Zooko has been recognized for his work in DigiCash, Mojo nation. He also writes sometimes about health science.
Zcash coin supply:
It has the total supply of 21 million coins and all the coins are expected to be mined around the year 2030. It follows a unique and approach to distribution.
According to Coinmarketcap the circulating supply of Zcash is 3,064,431 ZEC, and the current price of each unit is $640.
It has been ranked top 25 positions with a positive chart of around 20% rise this week, at the time of writing. It has the total market cap of 1,961,848,886 USD.
Future of Zcash:
ZCash was launched in October 2016 and witnessed an amazing rise since then. Moreover, the consideration of ZCash is strong enough as the trust of Team ZCash.
In addition, the estimation is that a solitary ZCash coin will soar fast and reach record highs. Until the everyone appreciates how the coin progresses, and what it really is beneficial for, we won’t know what a ZCash will be valuable in a solid way.
While the crypto world is volatile and always has some amount of risk for its near future but investors of ZCash will surely witness some great deal of return in a long-term holding process.
The extreme feature of the anonymous and untraceable transaction has attracted the way of crypto enthusiasts to its way. The emphasis on a private feature of Zcash is one such extreme need of crypto world that is not provided by giant crypto company Bitcoin.
The team behind ZCash is also working with the developers of Ethereum community to integrate the algorithms behind ZCash’s privacy features into the Ethereum platform. This ongoing collaboration between these two giant projects includes a vision to create a larger bridge between the ZCash and Ethereum blockchains.
When all the ZCash coins are discharged into the frameworks, they will really go UP due to capitalist activity. Finding whether to put resources into ZCash or ought not, to not be found on its USD-Z Cash estimating valuation right now.
Going forward, Zcash prices will depend on supply and demand, with the former steadily increasing and the latter uncertain.
Fortunately, the volatility that goes along with speculation has created opportunities for traders, who might invest in Zcash in an attempt to turn a profit.
After all this, the level of privacy and anonymity that it provides is one such great deal for all the users who don’t want to reveal their identity and amount that are involved in the transaction.
The increase in prices and rank in Coinmarketcap gives us the positive prediction about Zcash. It may turn to be a great deal and may return you a considerable amount of profit to its users.
Also, the chart on an average is always increasing.
Other things that need to be looked upon are
So what do think about Zcash? Do comment below and share your views in the comments below.
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