Zcash ($ZEC) is a decentralised privacy-focused cryptocurrency created in October 2016 by Zooko Wilcox-O’Hearn forked from Bitcoin with some added features. Zooko initially was a Bitcoin supporter but did not agree with the lack of privacy and anonymity. Like Bitcoin, Zcash has a fixed supply of coins ever made – 21M as per Bitcoins supply.
Let’s take a look at what the Zcash project is looking to achieve…
TITLE/TICKER : Zcash / $ZEC
COMPANY ORIGIN :
PLATFORM : Zcash
CONSENSUS ALGORITHM :
FOUNDERS/CEO : Zooko Wilcox
PURPOSE : Privacy focused cryptocurrency
POINT OF DIFFERENCE : Anonymous
MAJOR PARTNERS : JP Morgan, Starkware
WEBSITE : Zcash Website
POSITION/WHITEPAPER : Zcash Whitepaper
WORKING PRODUCT ? : Yes
CURRENT PRICE ACTION :
How does Zcash work?
In order to protect its users and provide complete anonymity – each Zcash transaction is “shielded through a zero-knowledge proof called zk-SNARKs” which has been adopted by other privacy-focused projects and forks of Zcash. This innovative technology is best described by the team, check out a detailed discussion and Q&A below and if you have any questions, reach out to us.
What problems is Zcash looking to solve?
Zcash, like other privacy-focused cryptocurrencies, is looking to solve the issues around exposure and identity linked to public facing networks or blockchains – this poses a number of threats and risks to those transacting and storing large amounts of assets/funds where they can be seen. Zcash is looking to create a network and system where this is no longer a threat or issue.
Zcash vs Competitors
Zcash though being one of the originals and early starters in the space have some very fierce and dedicated competition including the likes of but not limited to;
The Zcash team is led by Zooko Wilcox and boasts an impressive number of developers and scientists collaborating on the project.
See the full team here
Zcash has some notable partnerships including;
- JP Morgan
Where can you purchase Zcash?
How to protect & store your Zcash?
We recommend downloading an approved wallet from the official Zcash website otherwise we always recommend using a Ledger Nano S.
Outlook for Zcash?
Zcash is a well-established cryptocurrency serving a real-world purpose and one with strong fundamentals. However, the race is on in this space with major competitors all jousting for innovation and adoption.
Zcash has though, landed a partnership with JP Morgan – which for now may be positive but JP Morgans motives may be questionable at best… however this is a confirmation that Zcash is a real, viable project that is not going anywhere. If you see value in private cryptocurrencies then keep Zcash firmly on your radar.
Reach out if you have questions about Zcash $ZEC or need help with any topic.
Disclaimer : None of our Analysts are holding Zcash ($ZEC) at the time of writing this article. All content is research, opinions and personal view points from our Analysts. This is not financial advice and should not be treated as such. If you have any queries please contact [email protected]