Everything you need to know about Zcash

Everything you need to know about "Zcash"

What is Zcash?

Zcash is a cryptocurrency that was launched on October 28, 2016 by Zooko Wilcox founder and executive director, this currency is characterized mainly by having a high degree of anonymity unlike Bitcoin (in Bitcoin you can see the receiving portfolio, issuer and the amount sent or received) with Zcash this is finished, since at the time of making a transaction the data of the sender and receiver as well as the amount sent or received are hidden automatically and no one can see them.

Zcash's efficiency in anonymity is because it employs the algorithm called "zero-knowledge proofs", which makes this algorithm is to keep a record of all transactions made but without storing personal data or amounts of money . The creators of Zcash presume that if Bitcoin is "http" then Zcash is "https".

How does Zcash arise?

Zcash arises from the project "Zero coin" that in its beginnings was a layer of cryptographic anonymity for Bitcoin, but in the end it ended evolving to an independent cryptocurrency. At the root of this, users, investors and even Edward Snowden himself gave Zcash a go, the latter arguing that this digital currency was a good solution to the risks of surveillance.

Another thing that distinguishes Zcash from the other cryptocurrencies is the way it is organized, unlike Bitcoin and all based on it are open source, instead Zcash is a company and this leads to become a good product for investors.

The start of the project is also different from the rest, since as a company this also need investors to be able to finance the project and start it. Something in which coincides with the Bitcoin is in the number of assets that will have, 21 million units of Zcash (ZEC) will be mined.

What is Zcash for?

Like all crypto-currencies, it serves to make and receive payments, to donate, to invest in it as a product, to make purchases on the Internet, to use it as a currency of exchange, among many other things, of course all this in the digital world. physical form we still see very limited in the sector of crypto-currencies.

Where can I get Zcash?

Currently there are several ways to get Zcash, one of them is the mined currency itself (in future post we will see how we can not only Zcash but other currencies), another way to get them is to do trading in the exchange houses, such as Bittrex, Yobit, Poloniex, etc.

In future posts I'll be talking about of other Cryptocurrencies and many other things.