Zcash uses a zero knowledge proof construction called Zk-SNARKS. Zero knowledge proogfs allows zcash network to maintain a secure balance on the ledger without evealing the Parties or the amounts involved in transactions. All of the metadata is encrypted and used to prove nobody is cheating or stealing.
Zcash is run by the Zerocoin Electric Coin Company, or ZECC and lead by Zooko Wilcox. Theywant to set a new privacy standard through cryptography. Also, the Zcash foundation was formed in 2017. A non-profit organizations serving the Zcash community and promoting financial privacy.
Zcash is currently 13th largest market capitalization on coinmarketcap.com. Itâs sitting at $200 with a $350 million dollar market cap. Zcash topped out at $630 million dollar market cap peaking at just over $400 a coin on the market in late June. 1.7 million coins are in circulation and the teamis investigating options for the future which enables accounting for all Zcash in existence, but for now we donât know exactly what the distribution is exactly of Zcash, though its said that the total supply will end up being the same as bitcoin.
Zcash website: https://z.cash/
What do you think of Zcash? Do you see its privacy advantages enough for peple to use it instead of bitcoin in the near future? Leave your thoughts in the comments below.
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