Cryptocurrencies are spreading like wildfire and they are making the world decentralized. In today’s world, a person’s privacy isn’t fully safe even when they’re using crypto coins because of the way most cryptocurrencies are created. Yet there are some coins such as Dash, Zcash and Monero that offer complete privacy for their users.
Zcash is a private and decentralized cryptocurrency. Due to several smart features, Zcash provides the preferred complete privacy. In the Zcash network the amount of transactions stays private and there are two types of transactions. The user can choose to either participate in a normal transaction or a private one. Private transactions on the Zcash platform tend to be very reliable.
These two types of transfers work really simply. Let’s say you want to transfer some coins to your friend’s address. If your friend agrees with the transaction that is open to public you send the money to their transparent address, but if they want privacy, you simply send the money to their protected address called “z-addr”. If both of you want to use your protected addresses then the details of the process will stay private. It doesn’t require your and your friend’s identities.
Zcash is considered a fungible coin. It’s a very important feature for cryptocurrencies and, not only for them, even traditional money should be fungible as money is used for daily transactions.
At present, Zcash is obviously one of the biggest and safest coins that exists. It has been one of the best cryptocurrencies from the beginning. The Zcash market cap is $712,941,388.
However, buying altcoins immediately with fiat currency can be hard. As Zcash is also an altcoin it is difficult to purchase with fiat money. Yet, it can be exchanged for other crypto coins like LTC, BTC, ETH. If you want to keep track of your Zcash coins use a coin checker.
Being a branch of Bitcoin, Zcash has some significant similarities to the first crypto coin. Zcash also has a defined supply of 21 million, and they will be mined until 2032. To keep the supply controlled, Zcash also is halved every four years.
In contrast with other coins, Zcash wasn’t funded by an ICO crowdfunding. Behind Zcash there was a secret group of investors who funded $1 million for the development of Zcash. The investors should have taken the 10% reward (called “founder’s Reward”) of the complete supply.
Regulating Zcash is a difficult process. As a result of increased security, establishing regulations in this platform is complicated, but if you want to find out more about Zcash regulations there are two ways.
- View Key. Zcash users own their “View Key”. Whenever you need you can also share your view key with others. On the other hand, view key reveals all covered transactions. In that case, a user’s transactions and the receiver’s address will become available for everyone.
- This field possesses extra information that will be visible only to the receiver.
People greatly appreciate the value of Zcash that is the privacy provided by it. To manage your Zcash coins better, check out this guide to crypto portfolio management.