Zcash (ZEC)

Zcash (ZEC) price, charts, market capitalization, history. Check Zcash live and history price in charts and tables, do analysis with special ZEC tools below. Zcash (owned by Zerocoin Electric Coin Company) is a cryptocurrency platform that separates itself from the pack by placing an emphasis on privacy. Cryptocurrency refers to a digital/technological form of currency in which cryptography is used to control the generation of units of currency and verify funds transfers on what is called a “blockchain.” One of the main draws of cryptocurrency platforms is that they are decentralized, meaning they operate on their own instead of being controlled by a central bank.Most other cryptocurrencies such as Bitcoin display users’ entire payment history via a ledger to the public. Zcash, however, markets itself as the first open, permission-less cryptocurrency that is able to completely protect the privacy of its transactions using a type of zero-knowledge cryptography.

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Zcash - founder, advantages, digital

Zcash seeks to appeal to all crowds by virtue of privacy. It has special shielded transactions which hide all involved parties: the sender, recipient, and value of the transaction. This understandably appeals to quite a large base of users who didn’t like the public exposure of transactions put forth by other platforms (though everyone has their reasons). Unlike some other platforms, Zcash also recognizes the fungibility aspect of digital currency. Their tagline is “All coins are created equal.” They work to make all units of digital currency interchangeable by unlinking them from their prior history so that all units have equal value. One of the basic applications digital currency like this can be used for is crowdfunding.

Like the vast majority of cryptocurrencies, Zcash is purposefully designed to gradually decrease the production of their currency, which in turn places a cap on the total amount of the digital currency that will ever be in circulation. This concept is similar to how traditional money is regulated, and the scarcity is what gives the currency value.

Zooko Wilcox is the CEO and founder of Zcash. He has over 20 years of experience in cryptography, decentralized and open systems, startups and information security,. His resume includes work on Mojo Nation, DigiCash, ZRTP, Tahoe-LAFS, “Zooko's Triangle”, SPHINCS and BLAKE2. With about 16 distinguished, experienced core members and a solid panel of advisors (including VitalikButerin, co-founder of Ethereum), Zcash is going far. Some of Zcash’s notable investors include Pantera Capital, London Trust Media, Naval Ravikant, and Xiaolai Li. There are plenty of advantages to the use of cryptocurrency like Zcash over traditional money. For one, a more widespread use of digital currency cuts down on the potential for identity theft. Contrary to a credit card, there is no exchange of personal information when using digital currency. Because the currency is digital, it can’t be counterfeited or arbitrarily reversed by sender.

“Someday consumers and businesses won’t hold bitcoins for their account but will unknowingly access the bitcoin network whenever payments are made.” ― Paul Vigna, The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic Order

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