ZCash Price today
ZCash, also known as ZEC, has a price today of 53,98$ and a market capitalization of 390.044.288$, which is 0,13% of the total. ZCash has a total of 7.225.719 coins in circulation.
In the last 24 hours, the price of ZCash has increased 0,92$, which is 1,73% of its valuation.
What is ZCash?
ZCash is all about privacy protocols. All the initial features of ZCash is similar to bitcoin with some slight differences.
In ZCash people can maintain the anonymity of their transactions too! In Bitcoin platform, only the user IP address or personal info were anonymous. But if one wanted they could trace all of his or her transactions and know just how much money they exchanged.
In ZCash the scenario changed. The system made sure that the transaction amount and even the addresses would be encrypted. This adds up the extra layer of security to the whole network. It uses a special proof of work protocol called zk-snark to make sure the ledgers are up-to-date.
As no one can follow up a transaction this protocol comes in handy to keep track of the sent and received fund. The coin was introduced in 2016 and after that, it slowly started to gain popularity.
The code is open source and can be used by any individual for their benefit. Zooko Wilcox the company owner initially funded 10% of the coins. Although the entire system is base on Bitcoin network but it only takes 2.5 minutes per block to mine instead of 10 minutes.
- Every step of the transaction process is encrypted. So, it’s unhackable to a great extent.
- Comparatively takes less time to mine than Bitcoin.
- Offers fungibility to the whole network.
- Highly scalable network.
ZCash runs on the blockchain based platform which offers a cryptographic tool named zero-knowledge proof. It makes sure that two users on this network can share their fund without revealing their identity. Once a payment has been made it can't be returned.
Although this process has both good and bad outcomes. As criminals can easily use this platform to launder money. The good side is that government organizations can trade information without leaking the details.Visit website open_in_new
|Price in BTC||0.00504102 BTC|
|Current Supply||7.225.719 ZEC|
|Total Supply||21.000.000 ZEC|
|24h Volume (coin)||9.044 ZEC|
|24h Volume (currency)||$483.653|
|Last updated||2019-08-19 15:10:08 +01:00 BST|
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