Cryptocurrency Zcash (ZEC): description, price, course, chart, characteristics, forecast and prospects, list of exchanges
Zcash (ZEC) is a cryptocurrency focused on protecting user privacy and built on the basis of scientific research. It was developed and launched in 2016 based on research by scientists from MIT, Israel Institute of Technology, California and Tel Aviv Universities. The editorial staff of Btcnewsweb.com has prepared an overview of the ZEC cryptocurrency, how to buy or sell it.
Read also: how to buy Zcash (ZEC).
- 1 ZEC token price to USD
- 2 ZEC to USD chart
- 3 Characteristics
- 4 Online chart ZEC / USD
- 5 Zcash Cryptocurrency Review (ZEC)
- 6 Description of the project, history of creation
- 7 Cryptocurrency peculiarity, technical implementation
- 8 Advantages and disadvantages
- 9 Wallets
- 10 How to mine Zcash (ZEC)
- 11 Prospects and forecast
ZEC token price to USD
|Name||Price||Market Cap||Supply||Change % (7D)||Performance|
ZEC to USD chart
Zcash cryptocurrency indicators as of April 9, 2019:
|Capitalization||434 016 100 $|
|Current issue||6,276,893 ZEC|
|Maximum emission||21 000 000 ZEC|
|Exchangers||Matbea, Prostocash, 60cek, Baksman, Platov, Kassa and others|
|Exchanges||Binance, EXMO, Huobi, YoBit, etc.|
|Transactions per second||27|
|Block creation time, min||2,5|
|Project launch year||2016|
Online chart ZEC / USD
Zcash Cryptocurrency Review (ZEC)
Zcash is a digital currency, the same as Bitcoin (moreover, it was built on the basis of the original Bitcoin code). However, the protocol includes many improvements, primarily related to privacy and anonymity. Zcash can be used to buy goods and services or exchange for other fiat money / crypto currencies.
ZEC goes beyond other cryptocurrencies in a way.
The main difference between most digital coins and traditional money is that every transaction is tracked and managed by a decentralized open blockchain rather than a bank or other centralized institution. On the one hand, it proves that you truly own your money. On the other hand, almost all cryptocurrencies display the entire history of your transactions.
In Zcash, the user chooses what information to share and what not. Addresses and associated balances are not visible to all users. Disclosure of payments and special keys can be used to exchange information about transactions with third parties or audit.
Description of the project, history of creation
Zikesh cryptocurrency has been launched and supported by Electric Coin since 2016. The main goal is to endow everyone with economic freedom and unlimited opportunities. Everyone has the right to privacy, but at the same time, the transition to the use of cryptocurrencies as censorship-resistant money is logical. Therefore, it was decided to combine these two points.
Electric Coin is a team of scientists and engineers who developed the ZEC protocol based on scientific principles. The company has no control over the currency, its production or distribution. Each user of the network contributes to the strengthening of decentralization, which makes the system more resilient to disruption. The Electric Coin team members are on a par with the rest of the network.
In addition, The Zcash Foundation was founded in March 2017, a non-profit organization that is not legally associated with Electric Coin. The purpose of the fund is to help keep the right direction in the evolution of Zcash. The organization creates an infrastructure for online payments, works to maintain confidentiality, and serves users.
Cryptocurrency peculiarity, technical implementation
Key characteristics of the Zcash cryptocurrency:
✅ Benefits and Effectiveness. Zikesh can be used as a cheap and secure means of sending money or purchasing goods / services. The coin is supported by all top crypto-exchanges, wallets and exchangers.
✅ Regulation and audit. The user can disclose private transactions and addresses at will, if required by law or if it is necessary to conduct an audit.
✅ Decentralization, resistance to hacker attacks. Zcash is supported by a vast network of hardware and people, rather than a single, centralized company. There is no central server to hack, no points of failure, no regulator to shut down a project.
✅ Private transactions and addresses. Privacy isn’t just tied to Zcash – it’s built into the core of its protocol. This allows users to send and receive coins without disclosing sender, addressee, or transaction volume.
Why is privacy important? Of course, this is an essential prerequisite for freedom on the Internet. When the history of transactions is publicly available, the risk of tracking is high, and it becomes more difficult for a person to make their own decisions. In other cryptocurrency networks, an attacker can match a person with a wallet balance, information about the parties involved, and amounts. In Zcash, everyone decides what information to share.
Advantages and disadvantages
- Anonymity, the importance of which was discussed above.
- Mining difficulty. At the moment, for profitable ZEC mining, it is not necessary to purchase an ASIC, less powerful equipment is also suitable.
- Only the Linux operating system is officially supported.
- Transactions are not very fast, as the system performs a lot of computations to send them
On the official website of Zikesh there is a link to the official wallet, but many users, especially beginners, find it inconvenient to use it – it works through the console and does not have a graphical interface.
Nothing prevents you from using any other popular crypto wallet that is convenient for you personally. The list of supported wallets is also listed on the website: Coinomi, JAXX, Exodus, Ledger, etc.
How to mine Zcash (ZEC)
The network is maintained by miners. The algorithm used is Equihash (PoW). Tokens are added to the system by creating new blocks of transactions. On average, generating one block takes two and a half minutes.
The reward for the mined block is 12.5 ZEC, and it will be halved every four years (approximately 840 thousand blocks), as is the case with Bitcoin. The block size is limited to 2 megabytes.
Prospects and forecast
Analysts suggest that over the next few years, Zcash will become a highly demanded tool for those who value the anonymity of transactions and do not want to disclose movements in their account. And there are more and more such people, so the forecast for the ZEC coin is positive.
Important improvements play a significant role in the advancement of the project. They will simultaneously increase network performance and enhance privacy metrics. The first stage has already been completed in the summer of 2018. Future plans include simplifying work with smart contracts, increasing scalability and perfecting the consensus mechanism.