ZCash: the essence of ZEC cryptocurrency, advantages and disadvantages, ZEC mining. Where to buy ZCash, wallet review. Analysis of competitors and prospects of cryptocurrency.
ZCash confidently takes a place at the end of the TOP-30 in terms of capitalization, greatly inferior to its closest competitors Monero and Dash. But not a single fork of this cryptocurrency could achieve a similar result. Miners love ZCash, and the course is volatile enough for you to catch luck by the tail and earn. True, the anonymity of the ZEC cryptocurrency is at the same time its weak point due to the resistance of exchanges and regulators. In this review, you will learn what ZCash is, what its strengths and weaknesses are, where to buy and store cryptocurrency, how to mine and what are its prospects. Read and earn!
ZCash – a new milestone in anonymity or a successful clone?
It would seem that it was a new original idea that should bring start-up at the ICO stage dizzying success and promote it at least in the number of TOP-30. But practice shows that investors do not readily accept new ideas, preferring already tested classes of startups: payment systems, decentralized networks, and anonymous cryptocurrencies. And in favor of the latter, you can hear more and more positive reviews. It is believed that Bitcoin does not have anonymity and existing wallets can be identified.
Among cryptocurrencies with a maximum level of anonymity, ZCash (ZEC) is one of the most successful projects. According to CoinMarketCap ( coinmarketcap . Com ), a coin confident located at the end of the top 30, showing moderate volatility, even in a period of great market drawdowns. True, the closest competitor – startup Monero, is in the TOP-12. What are the differences between these startups, what are the advantages and disadvantages of ZCash, where to buy and how to mine ZEC cryptocurrency, what are its prospects, read on.
ZCash – ZEC cryptocurrency with an optimistic outlook
The ZCash cryptocurrency was introduced to the community in January 2016. Startup developers approached the project responsibly and uniquely, suggesting developments that had no analogs at the time. ZCash is an open-source cryptocurrency that provides anonymity for transactions. ZCash’s closest competitors are Monero and Dash.
ZCash is the first cryptocurrency developed on the basis of a cryptographic protocol of evidence with zero disclosure. His logic assumes that one of the participants in the transaction can verify the reliability of the mathematical statement without any information from the second participant in the transaction. Simply put, you can confirm the transaction, but neither the amount, nor the sender, nor the recipient will be known. Data encryption is based on the zk-SNARK protocol (instead of the usual PoW and PoS protocols). The issue volume is 21 million tokens.
Advantages of ZCash:
- interchangeability. No matter how the coins were received, they all have the same status;
- anonymity. Only two sides of the transaction know about the existence of a transaction, but they do not know anything about each other;
- the impossibility of compromising. The history of the origin of the coin cannot be determined.
The disadvantages of ZCash include the reward distribution system, which initially overestimated the real price of the cryptocurrency. Now the ratio of supply and demand has already leveled off.
There are two types of wallets for making payments: public (open) – “t” and private – “z” (at the request of the participant in the transaction). Therefore, there are four transaction options, which are indicated in the figure.