Current PriceR$ 506.98
Last 30 Days
ZCash is a crypto-currency with a decentralized blockchain that operates anonymously both user and transaction. As a digital currency, ZCash is very similar to Bitcoin, but its main differences lie in the level of privacy and fungibility that each provides.
ZCash was founded by Zooko Wilcox-O'Hearn in October 2016 with the goal of addressing an open financial system with the privacy feature that Internet users wanted. Bitcoin is a pioneer in the open financial system and ZCash somehow seeks to maintain the same structure, but includes privacy and fungibility. Fungibility is the ease in which one commodity can be replaced by another, which is important in the world of cryptograms as it ensures that one user's currency is as good as another.
So while Bitcoin is an open book system, ZCash is an encrypted open book. This means that although all transactions are recorded in a blockchain, transactions are encrypted and can only be viewed by users who have keys with access to them.
With such confidentiality, ZCash is a currency that can be used by cybercriminals and therefore care must be taken as to its use as an investment.
But it should be noted that as of April 2017, the ZEC was trading at $ 68.87 and in a short time traded $ 80.2 million, making it one of the top ten digital currencies alongside Bitcoin (BTC), Ethereum (ETH ), Monero (XMR) Litecoin (LTC), Dash (DASH) and Ripple (XRP).