Zcash is a digital currency, or cryptocurrency, similar to Bitcoin, that has been developed by world-renowned scientists from MIT, Johns Hopkins, and other respected academic and scientific institutions.
Built on the original Bitcoin code base, Zcash offers several key improvements, including privacy-preserving shielded addresses, a community development fund, and the ability to use it for purchasing goods, services, or exchanging it for other currencies like US dollars or Euros.
Privacy Features
Zcash provides an extra layer of privacy compared to other cryptocurrencies by utilizing a public blockchain while also giving users the option of confidential transactions and financial privacy through shielded addresses.
Zero-knowledge proofs enable transactions to be verified without revealing the sender, receiver, or transaction amount. Selective disclosure features within Zcash allow users to share certain transaction details for compliance or audit purposes when necessary.
Transparent transactions are also available within Zcash, providing interoperability with shielded addresses.
In 2022, Zcash introduced a unified address format, which simplifies the process of managing multiple address types and enhances the overall user experience.
Other Key Features
- Efficient and usable: Zcash provides a fast, reliable, and inexpensive means to send money or digitally purchase goods and services. It is supported by top exchanges and wallets.
- Audit- and regulation-friendly: Zcash users can disclose private addresses and transactions for information sharing, third-party audits, or to comply with regulatory requirements.
- Decentralized and attack-resistant: Zcash is decentralized and maintained by a vast network of people and machines, eliminating central points of failure and reducing the likelihood of hacking or shutdowns.
- Private addresses and transactions: Zcash’s core privacy features allow users to transact safely without disclosing the sender, receiver, or amount. Transparent addresses and transactions are also available.
Mobile Wallets with Zcash Shielded Support
Zcash shielded addresses and transactions use encryption to protect data, such as the sender, receiver, and amount, ensuring the strongest privacy in any cryptocurrency.
To use shielded addresses and transactions, users can download wallets like YWallet or Zecwallet Lite.
Wallets with Transparent-Address Support Only
Zcash transparent transactions function similarly to Bitcoin transactions, with sender, receiver, and amount information publicly visible on the blockchain.
These transactions are computationally lighter and simpler to execute from a mobile device but do not offer the same privacy protections as shielded transactions.
How to Buy and Use Zcash
Zcash can be purchased on a variety of exchanges. Gemini is a user-friendly option that offers privacy options not available on other exchanges.
However, if Gemini is not accessible in your country, there are many other reputable exchanges to choose from. Explore your options and find the best exchange that meets your needs.
In conclusion, Zcash considers itself a groundbreaking cryptocurrency that offers enhanced privacy features and a user-friendly experience, making it an attractive option for individuals and businesses alike.
With a foundation built on the original Bitcoin code base and continuous improvements, Zcash is striving to make a significant impact in the world of digital currencies.
