#SUNDAYCOINDAY Ep. 11: ZCash (ZEC)
Ep. 11: ZCash (ZEC)
1- OVERVIEW
ZEC claims to be the first open, permissionless cryptocurrency that can fully protect the privacy of both sender and recipient of transactions using zero-knowledge cryptography.
They literally states that "If Bitcoin is like http for money, then ZCash is https"
2- It's all about CONFIDENTIALITY
ZCash is pioneering the use of zero-knowledge proofs, applying cutting-edge cryptography to blockchain technology. Zero-knowledge proofs allow fully encrypted transactions to be confirmed as valid (this means no need of information about the parties and/or the amount). This new property will enable entire new classes of blockchain applications to be built.
Every user will have the perks of using a public blockchain but being sure that the sensitive information will be protected.
That's a must for a company deploying transactions of its core business.
3- HOW ZCash (ZEC) WORKS?
Using the zero-knowledge proof construction that they called zk-SNARK an acronym for "Zero-Knowledge Succinct Non-Interactive Argument of Knowledge,” and refers to a proof construction where one can prove possession of certain information, e.g. a secret key, without revealing that information, and without any interaction between the prover and verifier.
Unlike Bitcoin, you can shield your transactions, that means protecting the information of it, that is selective as the user can also transact from open (or transparent) addresses.
For example, ZEC payments sent from a shielded address to a transparent address reveal the received balance, while payments from a transparent (open) address to a shielded address protect the receiving amount.
Further information about the protocol and zk-SNARKS: https://github.com/zcash/mpc/blob/master/whitepaper.pdf
4- THE TOKEN
Name: ZCash
Ticker: ZEC
Circulating Supply: 2,306,681 ZEC
Market Cap: $608,968,463 (137,528 BTC)
Price at the time of writing this post: $264.00 (-4.80%)
Further information on their website: https://z.cash/
- EXCHANGES:
Bithumb, Bitfinex, HitBTC, Poloniex, Kraken.
MY 2 CENTS
Recently ZEC had a pump from $230 to $450 and a retrace to $264, you have to remember that the ATH for ZEC it's over 24K, that's right, there was a transaction of ZEC for over 20 grand on its first day, and that on November 2016, after that the GRANDMOTHER of al CUPS.
The breakout were beautiful with a lot of impetus, after the correction MASSIVE GAINS are expected for the future, you have to save that 24k resistance for the future, eventually it'll get back there!
IF YOU LIKE THIS POST AND THE IDEA TO CONTINUE THIS SERIES, PLEASE UPVOTE AND RESTEEM, If you missed it the first episodes of the series here it is!
Ep. 8 BASIC ATTENTION TOKEN (BAT) (https://steemit.com/bitcoin/@erodriguezc11/sundaycoinday-ep-8-basic-attention-token-bat-2017911t0411117z)
El. 9 Ark (ARK) (https://steemit.com/ccryptocurrency/@erodriguezc11/sundaycoinday-ep-9-ark-ark-2017917t231539393z)
Ep. 10 DASH (https://steemit.com/dash/@erodriguezc11/sundaycoinday-ep-10-dash-2017924t233336951z)
THIS IS NO FINANCIAL ADVICE, ALWAYS DO YOUR OWN EXTENSIVE RESEARCH AND DO NOT INVEST MONEY YOU'RE NOT WILLING TO LOSE
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Awesome man! This will be again featured on my latest issue! Thanks!
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Thanks for the post. I think I should get my hands on some Zcash!
Thank you! I'll get some too definitively, i think it might retrace some more but the expectations are huge as you can see.
STEEM ON my friend!
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