ZCash
At the time I was writing this review ZCash was ranked 25 on coin market cap with a price of $434.87.
What is ZCash?
ZCash is an altcoin that was launched on October 28th 2016. Zcash is like bitcoin because its based on a decentralized blockchain. The total coin supply of ZCash is like Bitcoin being set at 21 million and with the same issuance rate as Bitcoin being issued over 131 years. The differences with ZCash is that instead of having 10 minute blocks, ZCash will have 2.5 minute block average with larger block rewards that will halve every 4 years. Another difference is ZCash is completely anonymous.
How can it be fully anonymous?
With Bitcoin if you know someones address, you can see all their transactions and the amounts being sent or received. ZCash stays anonymous because they use a special proof to secure the network called zk-snark. Its also referred to as proof of construction. That proof allows for secure ledger of balances without disclosing transactions or amounts.
Can ZCash be mined?
Yes ZCash can be mined and it used Equihash as the hashing algorithm which is like Ethereum. Mining ZCash is very simple compared to other crypto because for one you don’t need to download the full ZCash blockchain or deal with command-line miners. You can also mine ZCash directly to an exchange or to a hardware wallet. I’m not going to go into depth into how to mine ZCash however I will add a link to where you can learn how.
Final Thoughts
I really like the idea of ZCash being fully anonymous because isn’t the whole idea of cryptocurrencies to be decentralized and anonymous? This coin will be going into my portfolio.