Why Zcash is the HTTPS among cryptocurrencies

The success of Bitcoin, launched in 2009, has paved the way for hundreds of alternative cryptocurrencies and legacy coins. As demand for privacy grew, as big data became readily accessible, cryptocurrency users began to look for other digital currencies that could fill the privacy hole. Bitcoin could not or could not be filled. Digital currencies such as Dash and Monero provide privacy for all parties involved in a transaction, not just the owner of the currency.

Functionality is the ease with which a commodity can be replaced, is important in the cryptoworld, as it ensures that the coin of one user is not as good as another. Digital currencies like ZCash seem to offer an even higher level of fungility by allowing their users to remain completely anonymous.

Unlike Bitcoin, which is an open ledger system, ZCash is an encrypted open ledger with no public keys, no transaction fees, and no central authority.

This means that although a transaction is recorded on the blockchain, it is encrypted and can only be viewed by the user who has access to it. In Bitcoin, members of the network who forward and validate a user's transactions are commonly referred to as miners. Miners are rewarded with newly minted Zcash and have to solve a number of complex mathematical problems, such as the detection or work problem, in order to obtain the privilege of participation.

Unlike Bitcoin, any miner can be on the Zcash network and all they need is a computer, a mobile phone and a few hours of their time a week.

Bitcoin has been around for nearly a decade, but many people now realize that it is not as popular as many initially thought. Zcash is a cryptocurrency launched on September 9, 2016 by the Zerocoin Electic Coin Company and is wedded to the concept of blockchain technology (Zk - snark).

Ethereum wants to integrate Zk-snark as it enters its Metropolis phase, and one of the ways to do this is to create an alliance with Zcash that will include mutual value exchange. It aims to provide users with a completely secure, shielded transaction space without passing on details such as user addresses to third parties.

Zcash's chief developer, Zooko Wilcox, gave a talk at DevCon2 in Shanghai that explored the future of this alliance. He founded and served as co-founder of the Zerocoin Electric Coin Company, which developed a protocol called Zerocoin in 2013 and 2014.

The developers involved have launched the Zerocoin project to address the security limitations of Bitcoin. The protocol created allowed users to convert zeros into bitcoin, while ensuring a higher degree of anonymity by concealing the origin of the payment. This protocol allowed the user to split the zeros (or alternatively merge them) and convert them back into bitcoin, and vice versa.

Unhappy with Bitcoin's privacy potential, several cryptocurrency projects have begun to improve its privacy features. Analysis companies (let's call them "spies") have a way of analyzing addresses, bundling them and linking them to other interested parties via IP addresses or other identifying information.

Several private coins are among the most popular cryptocurrencies on the market, four of which occupy the first 50 places in the ranking of coin market capitalization. This has proved to be a profitable year for cryptocurrencies outside of Bitcoin, as ZEC and other cryptocurrencies have disappeared from the charts. Users who wish to store and manage Zec and others such as cryptocurrencies and coins should be aware of Zcash's privacy features and other privacy-friendly features.

Earlier this year, Grayscale Investments predicted in a note a price target of $60,000 by 2025. Let's start with our Zcash price analysis and forecasts for 2019.

According to Beck, the similarity of the economic model between ZCash and Bitcoin means that Zcash could become a store of value for Bitcoin in the future. The Z Cash Blockchain has practical benefits, because it uses zero proof of knowledge to verify and validate transactions, and because companies and large organizations are interested in systems that combine the benefits of blockchain technology with data protection.

ZEC worth about $200 million was traded in trading pairs such as BTC, ETH and USDT. Zcash is a pure old coin, i.e. only for use as a digital currency, while cryptocurrencies such as Ethereum and NEO with their blockchains are ideal for app development. This article is not a recommendation to invest in cryptocurrencies other than ICOs, as it is highly risky and speculative. Investing in other cryptocurrencies such as Bitcoin, Ethereum or other legacy coins can carry serious risks.

The current circulating offer is 9,370,394 ZEC, with a market cap of $257,907,026. Between 2009 and 2014, Bitcoin was accepted by the counterculture but largely ignored by the mainstream. We will categorise them by their market capitalisation and share in their proven relevance.

BitCoin, Privacy, Anonymous