crypto currencies and Ethereum vs zcash

Cryptocurrency

It is the name of digital currency given to a system that use cryptograph for the secure exchange of transaction and trade in decentralize manner between the computer network without in coordination to central bank or any government. The idea of digital currency was stared in 1980 in Netherland and in US.

The first noteworthy currency was digicash or digicoin that collapsed in 1990s.concept of modern currency was emerged in 1998s by Wei Dai and completely evolved n 2008s with complete detail of blockchain network. The first cryptocurrency was bitcoin and was released in 2008. It works on “triple-entry” bookkeeping system. In 2011 two new cryptocurrencies were introduced to blockchain network that are Litecoin and namecoin. After one year in 2012 Peercoin were released. In 2013 Dogecoin, gridcoin, Primecoin, Ripple, Nxt was introduced. In 2014 Auroracoin, Dash, NEO, Mazacoin, Monero, Titcoin, Verge, Stellar, Vertcoin were released. In 2015 Ethereum, Ethereum classic, Nano, Tether was released. In 2016 Firo, Zcash were released. From 2016 to July 2020 almost 20,268 crypto were introduce in blockchain network. However, all are not in use some are dead and almost 10,953 cryptocurrencies are being actively used in digital market of crypto chain. All these currencies are not valuable. The most important and valuable crypto is bitcoin. After that Ethereum, Tether, USD coin, Binance coin, XRP, Cardano and Zcash are most valuable crypto currencies in globe. And if we will talk about the users of crypto, they are about 300 million on earth.

Comparison of Ethereum and Zcash

Ethereum (ETH)

It is decentralized blockchain network with smart functionality used for building apps and organizations, holding shareholders and for exchange and communication without being in contact with central bank or any government. It gives use of digital money without payment to bank. By using Ethereum you can build your own app which blockchain network and data that your app requires because it programmable. You can also control data of your app to make Ethereum trading app. You can do anything by using Ethereum because it has no boundary.it proved to be a great innovation in the digital market of cryptograph. It provides a market place to the networks who respect our privacy.

Function of Ethereum

Numbers of function are available that are being perform by the Ethereum

=>Financial service for globe

Financial service is not accessed by every person on earth but Ethereum provide banking service for its user. You just have to access the Ethereum and its services on internet.

=>A more secure internet

Ethereum provide more secure internet because of its privacy. It doesn’t demand all of your personal details for the usage if its App. Its economy-based system not on the base pf monitoring user’s information.

=>Computer networking system

It operates as work group it means it agree for the movement of money or to make agreement with someone without in contact with third party. This Is the best ever feature of Ethereum. It is mined by proof-of-work. its blocks are valid up to 12 second.

=>Thought control resistant

It means that no third party have control on Ethereum. It is impossible for a anyone that his transaction could be stop by anyone like government or company.

=>cinch of commerce

it means your commerce has assurance that your fund will not be changed until you provide the information to third party because developer have certain rule and regulation which he has to follow.

=>Buildable product

It provides its service is like that all app can be build because of same blockchain shared on the digital globe.it provides excellent services for build at any time.

Some other functions are very impressive like data coordination, rapid deployment, network size, private exchange of money, scalability and performance, finality and about incentive layer.

=>Ethereum "brand" assets
• ETH diamond (glyph)
• ETH diamond (gray)
• ETH diamond (color)

=>ETHEREUM has build 2970 projects and have above 71millon account wallet
It has 50.5 million contracts and approximate revenue moved by network is 11.5 trillion and in 2021 and 3.5 billion is creator earning.

Zcash (ZEC)

Zcash is privacy protecting, extra featured and high privacy providing cryptocurrency evolved in 2016 as fork of code base to assure privacy.it can be mine on any system but it provides more benefits when mined on dedicated system. It does not reveal the any information about the transaction because use of special cryptography protocol. Its transaction always done on public block chain but these never reveal the user identity. It provides two addresses to its users one is
transparent address and the second is private address.

=>Functions of zcash

Numbers of functions are also present in zcash by which users are getting benefits

=>Privacy

It provides more privacy to users by encrypting transaction knowledge using zero-knowledge proofs. This allows
transaction without being verify the specific information like wallet address and the amount sent to user.

=>Option

Three options are available that a user can transaction in three different ways privately, publicly or by shielding. Private mean transaction information in encrypted and public mean transaction like bitcoin and Ethereum and shield mean by securing his own information.

=>Fungible

They are fungible mean even a single token can’t be recognized by third element to rise up for all transaction histories.

=>Regularity

it allows fully exchange of transaction on server without being fit in difficulty because of it publicly exchange
transactions.

=>Difference of Zcash to other crypto currencies

Zcash has caused a lot of contestation for its system of distributing the crypto currency. The organisation isn't set up as an opensource community but as a Company. This is the first major difference to Bitcoin and other crypto currencies similar as ethereum. The alternate major difference is how they plan to award investors and workers in the Company which is by a duty on mining prices called" Authors award"

Zcash reduces sale visibility and boosts sequestration, Ethereum, on the other hand, acts as the operating system in the cryptosphere

#steemit
#cryptocurrencies
#zcash