Zcash

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Zcash
Zcash logo 2019.svg
Ticker symbolZEC
Development
White paper"Zcash Protocol Specification"
Initial release28 October 2016; 3 years ago (2016-10-28)
Latest release2.1.1-1 / 6 February 2020; 55 days ago (2020-02-06) [1]
Code repositorygithub.com/zcash/zcash
Development statusActive
Websitez.cash
Ledger
Hash functionEquihash
Block reward12.5 ZEC [2]
Block time2.5 minutes [2][3]
Block explorerexplorer.zcha.in
Circulating supply9,196,819 [3]
Supply limit21,000,000 [2]
Valuation
Exchange rate$50.13 [4][3]
Market cap$460.7 million [4][3]

Zcash is a cryptocurrency aimed at using cryptography to provide enhanced privacy for its users compared to other cryptocurrencies such as Bitcoin.

Like Bitcoin, Zcash has a fixed total supply of 21 million units.[5]

Transactions can be "transparent" and similar to bitcoin transactions in which case they are controlled by a t-addr, or can be a type of zero-knowledge proof called zk-SNARKs; the transactions are then said to be "shielded" and are controlled by a z-addr. Zcash coins are either in a transparent pool or a shielded pool; as of December 2017 only around 4% of Zcash coins were in the shielded pool and at that time most wallet programs did not support z-addrs and no web-based wallets supported them.[6]

Zcash affords private transactors the option of "selective disclosure", allowing a user to prove payment for auditing purposes. One such reason is to allow private transactors the choice to comply with anti-money laundering or tax regulations. "Transactions are auditable but disclosure is under the participant's control."[7] The company has hosted virtual meetings with law enforcement agencies around the U.S. to explain these fundamentals and has gone on the record of saying that "they did not develop the currency to facilitate illegal activity".[5]

See also[edit]

References[edit]

  1. ^ "Releases - zcash/zcash". Retrieved 1 March 2020 – via GitHub.
  2. ^ a b c "Frequently Asked Questions - Zcash". Retrieved 10 July 2019.
  3. ^ a b c d "Zchain - Zcash Blockchain Explorer & API". Retrieved 1 March 2020.
  4. ^ a b "Zcash Price Chart (ZEC) - Coinbase". Retrieved 1 March 2020.
  5. ^ a b Popper, Nathaniel (31 October 2016). "Zcash, a Harder-to-Trace Virtual Currency, Generates Price Frenzy". The New York Times.
  6. ^ Quesnelle, Jeffrey (2017). "On the linkability of Zcash transactions". arXiv:1712.01210 [cs.CR].
  7. ^ Clozel, Lalita (31 October 2016). "How Zcash Tries to Balance Privacy, Transparency in Blockchain". American Banker.

External links[edit]