Charts price for ZCash (ZEC)

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Description of ZCash (ZEC)

Zcash Origin

Zcash Release Date: October 28, 2016.

Zcash is a fully encrypted Blockchain that employs zk-SNARK (Succint Non-interactive Arguments of Knowledge) technology. The team behind the coin is composed of engineers, designers, scientist, business professionals, all of which are spread throughout the globe and hail from diverse backgrounds. The project took a vast amount of research and did not have a crowdsale. Instead it was backed by renowned business professionals such as Roger Ver, Fred Ehrsam (Coinbase), and others.

Zcash Functionality

Zcash allows users to leverage between two addresses, which provides the possibility of making transactions entirely anonymous. This applies to both sendor and receiver addresses. The reason Zcash is so expensive and important is due to the fact that it provides secure means for the transaportation of our data. And zk-SNARKS technology, allows for a given action to be proven without the need to reveal all of the actions underlying details.

Zk-SNARK ensures that the amount, receiver, and sender are always anonymous behind a transaction. SNARK also prevents the double spending issue. Additionally, Zcash transactions come with a memo field, which can be field with information that is only visible to the individuals behind a given transaction. This allows for Zcash transactions to be customizable in compliance with regulatory laws or legal frameworks.