Zcash uses cryptographic methods based on zero-disclosure evidence, which allows the mathematical reliability of the transaction to be verified without providing any information about the second participant in the transaction. Transactions are recorded in the general blockchain, but the sender, recipient and amount transferred are unknown to other members of the network. The Zcash platform ensures transparency and complete transaction confidentiality in the network. The coin of the same name with the trading ticker ZEC is used as a payment method. Zerocoin Electric Coin Company developed it in 2016. Zcash (ZEC) is the world's first confidential open-source cryptocurrency based on a blockchain. After balancing supply and demand, the value of cryptocurrency settled in at $40-50 per coin.
The conference attracted a lot of attention to the coin, which is how ZEC's price briefly reached $4,000, according to CoinMarketCap. Timed to coincide with the project's launch, the developers spoke in detail at the conference about the principles of transactions in the network and provided data on zk-SNARK. The coin was not as popular as the fully confidential Zcash (ZEC).Ī month later, on 28 October 2016, Zcash officially appeared. However, records, keys and addresses and the transaction protocol were poorly developed.
On 28 September, Zcoin, which was similar to the Zero-Knowledge concept, was released. The developers promised that it would be an ideological continuation of ZeroCash and an attempt to implement the protocol in isolation from Bitcoin. On 20 January 2016, it was announced that the new Zcash cryptocurrency had been developed. It was impossible at the time to create an addition to the BTC because it would have required existing developments to be expanded. To know more about Bitcoin mining profitability, please read our blog. The community of Bitcoin miners and users had already formed by that time. But later, the team failed to reach an agreement with the Bitcoin developers on permission to work with an operating protocol. In January 2014, it was announced that Zerocoin would appear as a separate project based on the first cryptocurrency blockchain, Bitcoin. Later, the protocol was executed as an alpha version for the existing Bitcoin network. In May 2013, the report Zerocoin: Anonymous Distributed E-Cash from Bitcoin was presented at a scientific symposium in San Francisco. Initially, the project was intended to be a supplement to the Bitcoin protocol. The protocol was developed by Professor Matthew Green and his graduate students, Christina Garman and Ian Miers, from Johns Hopkins University in Maryland. Zcash owes its emergence to the ZeroCash cryptographic protocol. The history of Zcash (ZEC), the first private cryptocurrency, deserves exploring the origin of the technology itself.
So, what is Zcash? Is it worth investing in? What are the prospects of the Zcash coin? To make an accurate Zcash price prediction, let's dive into what Zcash is, its price history, technical analysis, and Zcash's future predictions from experts. Most crypto enthusiasts agree with the analogy since Zcash is traditionally considered the first fully private, secure cryptocurrency. Steven Waterhouse, a well-known entrepreneur, and crypto investor, once gave a good example: while Bitcoin is an HTTP data transfer protocol for the financial world, Zcash is an HTTPS protocol that offers encryption support for enhanced security. That compromises the competition between cryptocurrencies and standard bank payment systems. The amount transferred is known from the beginning. You can track transactions in the Bitcoin network through a blockchain to determine the wallet address of the sender and recipient. But not all cryptocurrencies are completely confidential.
Transaction confidentiality is one reason why cryptocurrencies are so popular and blockchain technology is so widely used.
0 kommentar(er)
