Zcash is one of the top 20 cryptocurrencies available on the market at the time this review was published. It is a by-product of the Zerocoin project, which was established to improve the privacy of Bitcoin users. A team of engineers, advisors and scientists of the Zerocoin Electric Coin Company (ZECC) launched the Zcash currency in 2016. The project founder and company CEO is Zooko Wilcox-O’Hearn.
Although all Zcash payments are made public, users can take advantage of an optional privacy feature. This is aimed at protecting the identities of senders and recipients. The transaction amount is also hidden on the public blockchain. Users can leverage selective disclosure to provide proof of payment for auditing purposes. The use of blockchain technology reinforces security for all Zcash payments.
Tech Analysis: How Does Zcash ($ZEC) Work?
Zcash helps users enjoy a greater level of privacy and fungibility than other digital currencies, including Monero, Bitcoin and Dash. Many currencies rely on private keys to handle anonymous transactions. However, the approach comes with significant downsides. Private keys consist of strings of numbers and letters used to identify users. Over time, an address attaches itself to the user’s transactions. This allows other users, including marketers to detect purchasing trends.
Zcash’s advanced technology addresses these issues by encrypting details of a transaction. The digital currency verifies the validity of encrypted payment information using an innovative cryptographic technique. The method is based on a zero-knowledge proof cryptography known as zk-SNARKs, which verifies the validity of information without revealing any confidential details.
Launching Without an ICO: The Zcash Approach to Raising Money
Zerocoin Electric Coin Company (ZECC) developed and launched Zcash without sourcing capital through crowdfunding. The company reveals its funders on its website. Investors injected funds into the project in exchange for equity in ZECC. Some of the investors include the Digital Currency Group, Maple Ventures, and Barry Silbert.
In turn, the investors benefit from the Founders’ Reward over a period of between one and four years of mining. Up to 90 percent of the digital currency’s monetary base goes to the miners. This approach allows ZECC to continue expanding the platform through innovative concepts, such as the Zcash Sprout.
Conversely, the funding model used by other blockchain tech firms or cryptocurrencies can compromise their ability to provide true market capitalization value which makes Zcash different than competitors and the majority of other alt coins available on exchanges.
Liquidity Across Many Global Exchanges: Recently added to CEX.IO and Bithumb Exchanges
Buying Zcash from exchanges is a practical option for people without cryptocurrency mining experience. Buyers and sellers of Zcash can trade the digital currency on up to 58 exchanges from around the world at the time this review was published.
The list of exchanges continues to expand thanks to the currency’s growth and popularity. Some of the latest additions include Bithumb and CEX.IO.
The CEX.IO exchange is well suited to both institutional traders and beginners in European markets. Traders can deposit and withdraw funds using debit and credit cards. Bithumb is one of South Korea’s largest exchanges and it recently introduced Zcash to provide easy access to its users.
Zcash Executive Team, Advisors, and Investors
When it comes to investors, Zcash demonstrates a strong commitment towards transparency. This is aimed at giving the public an opportunity to become familiar with the firm’s incentives and the initial conditions of the Zcash economy.
An experienced and highly qualified team and advisory board drives the project’s success. Some the advisors include Vitalik Buterin and Gavin Andresen. Buterin is a writer and programmer who co-founded Bitcoin Magazine and Ethereum. Andresen is a software developer and co-founder of the Bitcoin Foundation who graduated from the Princeton University.
Zooko Wilcox-O’Hearn, a computer security specialist, leads Zcash at the helm.
He has designed a number of decentralized, fault-tolerant file systems and network protocols. Jack Gavigan is the company COO with a background in cyber security and financial technology. Jack Grigg is an engineer with a Ph.D. in Applied Physics from the Lincoln University, New Zealand.
Some of the Zcash investors include:
– Pantera Capital – Investment company founded by Dan Morehead. It focuses on projects using blockchain technologies.
– Digital Currency Group – Venture capital firm with offices in New York. It provides funding to startups involved in digital currencies.
– Naval Ravikant – Chief Executive Officer and Co-Founder of AngelList.
– Roger Ver – Early investor in cryptocurrency startups.
– Erik Voorhees – Co-founder of the bitcoin firm, Coinapult.
– Barry Silbert – Founder and Chief Executive Officer of Digital Currency Group (DCG)
Investing in a Privacy Coin: Why Buy, Sell, or Hold $ZEC?
Zcash represents a great long-term investment for anyone looking for a digital currency that allows anonymous transactions. It provides a superb alternative to Bitcoin, which is now facing the threat of more regulation by governments. Zcash is geared for the future in an expanding market. Its market supply rivals leading cryptocurrency Bitcoin with the same finite supply of 21 million coins to be circulated.
The project is run by a high-powered team of professionals with many years of experience with cryptocurrencies. Also, the firm raised funds through private investors rather than crowdfunding sources. This eliminates the possibility of potential manipulation of the Zcash’s value based on current cryptocurrency values if funds were raised through an ICO in the form of Bitcoin or Ethereum, which rose dramatically in 2017.
The currency is available on dozens of exchanges, thus improving liquidity and trader access around the globe.
This will be a nice #investment opportunity. In #TurniCharts , we have 2 entry points from where $ZEC can go up. #Cryptocurrency #Zcash pic.twitter.com/2LduN4JGUU
— Luka Kapetanic (@kapetanic_) October 6, 2017
Do Your Own Research Before Investing
Conducting thorough research about a digital currency before investing helps traders make informed decisions.
Always do your own research, always evaluate your own charts to determine patterns, and never take advice from strangers on social media who appear to be experts.
To learn more about $ZEC, traders and investors should visit the following platforms below:
– Official Forum: https://forum.z.cash/
– Reddit: https://www.reddit.com/r/zec/
– Twitter: https://twitter.com/zcashco
We’re Bullish: $ZEC is a Leader in the Privacy Coin Vertical
Given the Zcash’s background, we are confident this cryptocurrency is a good investment to hold in your portfolio. Our confidence stems from the company’s management team, which has worked in the field of digital currency and software engineering for many years.
The team is supported by highly qualified advisors and committed investors. The technology behind the currency is undoubtedly groundbreaking and secure.
Zcash’s market cap valuation is more realistic than other digital currencies due to the use private investors. The future looks bright for Zcash as users seek improved privacy in the face of increased regulatory pressure from governments and regulators.