Steemit Crypto Academy Season 2: Privacy Coin [Zcash COIN]

toluwalase (53)in SteemitCryptoAcademy • 3 years ago (edited)

Questions

It's another week in steemit crypto academy and today I'll be making a post based on the lecture given by professor @levycore . In this post I'll be discussing on privacy coins

Answer is not sequence wise but all the answers are given below. I would write as I understood.

Let’s start the homework

Choose a Privacy Coin and perform a fundamental analysis of the coin in detail.

Describe the steps in creating a wallet for the Privacy Coin of your choice. (Screenshot required)

Explain the reason you chose the Privacy Coin. (State the advantages and disadvantages)

What

Privacy of crypto currency transactions

Using a public Blockchain like bitcoin is akin to Broadcasting your bank statement for the world to see although you probably have nothing to hide its not information you want to make public thankfully there are several tactics available to keep your identity anonymous as you navigate to Crypto over

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here are some of the most popular strategies that privacy coins are using today first we have still address simply steath the dresses generate a new address each time you received crypto doing so ensures that no one can associate you with a particular wallet address

next on our list or ring Signature implemented by Crypto note coins such as Monero and bite coins while steath addresses hide your transactions destination ring signatures of secure its origin. ring signatures combine the digital signature you use design transactions with multiple fulse signatures from other wallets another privacy strategy is coin join join starts by combining the coins from multiple senders into a single transaction from there and third-party shuffles those coins and since the appropriate amounts to each recipient – is the most popular cryptocurrency to implement coin join functionality

Selection is

fourth Privacy feature Zk snarks is one of the most popular in the industry being utilised by Zcash and possibly aetherium in the future it’s a form of zero knowledge cryptography that not only improves privacy but can also helps with scalability of a blockchain without getting too technical ZK snarks enables you to prove that a transaction is valid without needing to share such as the sender receiver and transaction finally we have one of the latest privacy innovations to gain traction Mumba limba unlike the other members of this list this mechanism is an entirely different Blockchain protocol of nimble Wimbledon brings to the table many of the same benefits as coin join and ring signatures without the flow that usually play exam revision team are the two projects most involved with member limbo my coins and bitcoin developers are exploring implementation as well.

Zcash continue to be a pinnacle cryptocurrency since its inception

Zcash is fungible

There will solely ever be 21 million ZEC coins issued over the existence of the project.

Zcash can system transactions a good deal faster than Bitcoin.

Zcash one of the most impervious privacy cash ever to enter the sector.

This graph also fully analysis the what is the upcoming and now situation is

Step by Step

So first we need to open coin market cap because today we going to start our wallet review that name is Zcash and first I need to check the rank of this world or this coin You can see below in screenshot The Queen market cap is open you can get the all information all about coins and tokens and this time BTC prizes is 36,142 dollars So I need to search or find the rank of Zcash

Now I am going to you can see below the z cash rank is 54 and this time price is 157.69 dollars

And you can get the information all about the z case this coin market page like chart like market cap , Fully Diluted Market Cap , volume, cerculating supply ,all-time high like all-time low let’s suppose suppose I am going to click on show more so can you can see the screenshot given below👇

Show we need to just download a set up uninstall our system so how can I do this is so simple and easy you can see there in the screenshot where is soon GKS you can simple click on links

Then you can see many links are there you simply click on first link you can see it screenshot give below 👇

After that the z z dot cash Open front of you that cases digital money fast and Continental with low fees built of internet and Mobile transactions So there’s two options available by Z case and get get wallet so I need to install wallet on this On my phone So I just simply click on it you can see a screenshot given below 👇

Now https://z.cash/wallets/ This is the official website where you can download the wallet

When you can slide their and there is show Three wallet ZecWallet Lite ,neghthawk wallet and Unstoppable wallet

You can read that Written below in ZecWallet Lite
So I can click simply on visit site of ZecWallet Lite

Now the nucleus is open front of me you can see https://www.zecwallet.co/ This officer website for the download your mobile version and also your test version So I am using i phone so I have click on it
You can see the screenshot given below 👇