Zcash is one of a tranche of privacy centric crypto coins to come to market over the past 18 months. With regulators placing more and more focus on the cryptocurrency ecosystem there has been calls from many for ultra-privacy. Let’s look at what is Zcash and how it operates
Zcash answers this calling with its zero proof protocol. What zero-knowledge cryptography enables is with Zcash is for the transactions to be completed without any outside information being public. They actually provide this functionality to their users through allowing them to hide the sender, recipient and value of the transaction.
This is of course at odds with other cryptos such as Bitcoin in which the entirety of the transaction is open via their public blockchains in order to validate and verify the entirety of the process.
Zcash was founded by Zooko Wilcox–O’Hearn a computer security specialist who hails from Arizona but is based out of Boulder, Colorado. He holds and impressive resume of qualification and achievements including designing and developing multiple protocols as well as being involved with the development teams of ZRTP and Blake2.
The Zcash token supply, emission and mining reward model is in fact very similar to Bitcoin with only 21,000,000 coins being the total supply of Zcash. As with Bitcoin, in addition to the limited supply, the mining rewards also reduce over time with the foreseen time frames being in around 4 years.
The Zcash ICO was initiated in October, 2016 and while some of the cryptocurrencies attributes are on par with Bitcoin one key factor stands out and this is the Founders Reward. The founder’s rewards basically is a vested payment to the team and advisors and other stakeholders in the project.
The total amount received via the founders reward equates to 2,100,000 coin or ZEC. This is tied into the mining of the cryptocurrency and the entirety of the reward will be completely paid out in 2020.
The Zcash coin is traded under the trading symbol ZEC and here on Trusted in Trading you can view ZECUSD and ZECBTC charts on this page in real time with full historical data. Zcash ZEC is traded across the majority of crypto exchanges and as with all cryptocurrencies, it has taken a beating since its all-time high of 756 USD. Currently at the time of writing we have seen the coin depreciate in value to the 60 USD level.