Altcoin to Invest: Zcash

Altcoin to Invest: Zcash

Zcash is a cryptocurrency with open source, developed by Zerocoin Electric Coin Company on October 28, 2016. Zcash provides privacy and selective transparency of transactions. A "Zerocash" protocol was developed in 2014. The developers improved the original design, making it more efficient and private. Zcash is the evolution of Zerocoin project.

Zcash features

Zcash is the first digital currency based on the protocol Zero-knowledge proof. The operation principle of the protocol is that one of the parties can ensure the reliability of scientific assertions, without having any other information from the second party. In fact, Zcash is the first genuinely anonymous currency. It is possible to confirm that a transaction has been committed, but there is no way to know the amount, the sender and the recipient.

Our top trading bots

Zcash software generates many random values. They are taken as input parameters and produce cryptographic key fragments creating a new Zcash. At the launching ceremony, there was a demonstration of these vital cryptographic pieces. The protocol does not preserve information about addresses and the transaction amount. Only the fact of the transaction is visible. Users can open or hide information about the operation of the blockchain. It is the Zcash hallmark.

The price of Zcash

Zcash creators refused the ICO and pre-mining, and as a result, the rate of coins production was artificially slowed down from the start. Good advertising fueled the demand and those who wanted to get anonymous coins could not buy them anywhere. Therefore, in the first trading minutes, the price of 1 ZEC amounted to 3300 BTC on Poloniex. The same day, the rate fell to 50 BTC. Today 1 ZEC costs $339.

It is difficult to talk about the growth prospects of the price, because the only advantage of coins is anonymity, and there are other virtual units with similar features, for example, Monerо.

In the first trading minutes, the price of 1 ZEC amounted to 3300 BTC on Poloniex.

Advantages of cryptocurrency

1. Interchangeability. The monetary units of one currency and one value should cost the same. In practice, you can buy bitcoins on the exchange, but they are "dirty" (e.g., someone stole them). As a result, financial institutions may refuse to accept them after checking their history. That’s why the initial interchangeability may be lost.

2. Mining. Zcash mining is much easier and faster. Besides, to create a farm, you need less investment than during Bitcoin mining.

3. Privacy. Unlike Bitcoin, Zcash provides a higher level of data protection. However, users have the opportunity to make public payments if they have nothing to hide.

On the one hand, Zcash seems to be a promising project that can take a proper place among cryptocurrencies. Moreover, the developers continue the work on the project. After the coin has been launched, there are a lot has been done to improve the reliability of the currency and its stability. Points of vulnerability have been identified, and corrective actions have been taken.

On the other hand, by creating the most anonymous cryptocurrency, the team may not consider that their development becomes an ideal tool for illegal transactions. It makes ZEC a target for legislative bans because there are some countries which regulate the Internet at the state level.

In General, as every coin, this cryptocurrency has two sides – light and dark. And which one will prevail depends on creators and those people who will use Zcash for their purposes.

WisdomTree launches four cryptocurrency indices in US and Europe
On Friday, WisdomTree, a financial institution with over $76 billion in assets under management, announced it had created four cryptocurrency indices in...
Taiwan police arrest 14 suspects for scamming over 100 crypto investors
Taiwan’s police administration has reportedly arrested 14 people for running a $5.41-million (150 million New Taiwan dollars) investment scam over the past...
Decoupling ahead? Bitcoin and Ethereum may finally snap their 36-month correlation
Anish Saxena, a New Delhi-based automobile dealer, made “incredible” profits by investing in cryptocurrencies in 2020, just as his business took a hit from...
ASX sounds crypto exchange custody warning, calls for better regulations
The Australia Securities Exchange (ASX) has weighed in on the issue of crypto custody amid the ongoing discussions within the country’s Senate Select Committee...
JPMorgan points to weak Bitcoin futures as signal for bear market
JPMorgan’s cryptocurrency market analysts have pointed to the difference between Bitcoin’s (BTC) spot prices and BTC futures prices as a potential bearish...
Irish MEP calls for stringent crypto regulations in Europe
Chris MacManus, a Member of the European Parliament (MEP) representing Midland Northwest, Ireland, has called for strict crypto regulations in Europe.According...
Green energy tokens capitalize on Tesla’s decision to nix Bitcoin payments
After months of touting the benefits of Bitcoin (BTC) and blockchain technology, Tesla CEO Elon Musk shocked the crypto Twitter on May 12 by announcing...
Altcoins just repeated a move that could launch them 27,000% higher in 2021
Altcoins have delivered huge gains this year, but if they repeat their 2017 moves, hodlers may be looking at an insane 27,000% moonshot.According to popular...
The convergence between Tesla, SpaceX, renewable energy and Bitcoin mining
Tesla — a top 10 company in the Fortune 100 that is run by one of the world’s wealthiest people, Elon Musk — transferred $1.5 billion of its treasury cash...
DOGE out of control? Social media and whales sway Dogecoin price action
Dogecoin (DOGE) has been the talk of the crypto town in the month of April. On the first day of the month, it was trading in its usual $0.05 range. On April...
Dubai’s economic department to roll out blockchain-based corporate KYC
Dubai’s Department of Economic Development, or “Dubai Economy,” and the Dubai International Financial Centre are working to expand their Know Your Customer...
Nifty News: Sophia the Robot sells $1M worth, Cardano to clone NFT platforms, and more
If creative self-doubt and competition between humans in the art world weren’t already hard enough, artists now face the prospect of battling it out on...
BTC Market Cap Will Surpass $7 Trillion Gold Cap, Say Winklevoss
Recently, Tyler and Cameron Winklevoss, world-known entrepreneurs and early supporters of cryptos, have taken part in Reddit’s «Ask Me Anything» sitting....
Litecoin Creator Called Not to Focus on The Drop But Develop Cryptos More
Charlie Lee, the actual father of the sixth most popular altcoin to bitcoin – litecoin – believes short-term price shots are rather a speculation than a...
7 Tokens to Invest in 2018
Large players of the cryptocurrency market are trying to understand the true situation and separate the real token deals from scam. Coindesk has spoken...