Steemit CryptoAcademy Homework Post For Professor @Levycore By @Nikoyana On Privacy Coins.

Privacy Coin

First of all private or privacy means not enabling or allowing people to see what you are up or into.
Privacy coins are coins that enable users with adequate privacy of thier identity and transactions on the blockchain or network,here the identity or data of the sender and receiver is hidden together with the amount sent.

When these privacy coins are bought on exchanges there is a record for that but what transactions these coins are been used for after remains private.
There are techniques used to keep these privacy coin transaction obscured such as stealth address,ring signatures,zk-snarks and coinjoin etc.
There are about 68 privacy coins traded currently which includes NuCypher,Monero,Verge,Dash,Zcash,Beam and among others.

1.Choose a privacy coin and perform a fundamental analysis of the coin.

I chose the Zcash which was launched in October 28 2016 by Zooko Wilcox O-Hearn and uses equihash algorithm which serves as proof of work algorithm on a cryptography concept called generalised birthday concept.ZEC is the ticker symbol of Zcash and a native currency within the network.Zcash has a marketcap of 1 billion plus dollars and ranked 54 on the coinmarketcap.

Zcash is a cryptocurrency with decentralized network that ensures its users and thier transactions remain hidden and private and not public.Its initial distribution was ICO(Initial Coin Offering) with GPU(graphics processing unit) mining method.
Zcash(ZEC) uses the zero knowledge proof technique called ZK-SNARK meaning (zero knowledge succint non-interactive argument of knowledge ) here the user proves an information is true and valid without revealing the information.

Zcash has a maximum supply of 21 million units with a current price around 156.08dollars.
Moreover Zcash has a circulating supply of 11,828,406 with a block reward of 3.125 the block reward halves every 4 years which took place in November 2020 with the next halving taking place in 2024.
New blocks are added or created every 75 seconds on the blockchain, with a low fees of around 0.0001.

ZEC developers are :

a)Electric Coin Company(zcashd) which employs most of engineers together with scientists. Electronic Coin Company has a built in founders reward which is 10℅ of the total supply of Zcash 21,000,000 units. Founders reward are tokens that are set aside for early investors and contributors.

b)Zcash foundation(zebra)which serves as a funding organisation.

ZEC has a very high inflationary rate which is 28.19℅.
Zcash had an all-time high around 5872 dollars around 29 October 2016 and all time low around 21.30 dollars around 13 March 2020 with its daily active addresses reaching its lowest in 2019.

Windows, Linux, macOs are the operating system of Zcash.
Zcash is funded through community funding as the Zcash ecosystem grows there is more funding and also the more the decentralisation of Zcash.
Zcash can be obtained on exchanges such as Gemini,Coinbase,Kraken etc.
Furthermore Zcash achieves its milestone when it underwent first halving as major upgrade drops that is founders reward.

Grin seems to be a competitor or out weigh Zcash because of its usability and anonimyty which are termed better as compared to Zcash.

Team and Contributor of Zcash

Brian Klein,Eli Ben Sasson(co founder and president of starkware industries),Sean Bowe(engineer of electric coin company),Kim Wolf(executive assistant of electric coin company),Josh Swihart(Vice President of marketing and business development of electric coin company),Andrew Miller(president and chairman of the board at Zcash foundation),George Tankersley(engineer at Zcash foundation),Simon Liu(engineer of electric coin company),Andy Murray (CFO at electric coin company), Christina Garman(founding scientist of Zcash)and others.

Advisors:

Vitalik Buterin(co founder of ethereum),Govin Mohr (project advisor),Jill Carlson, Gavin Andresen (early lead bitcoin developer) and Arthur Breitman (Tezos founder) others.

Investors:

Barry Silbert(founder of Digital Currency Group),David Dacus(founder of Metta Medical and HitPlay) Niraj Mehta (founder of persistent edge and kilowatt capital)and others.

Organisation :

Boost VC, Galaxy Digital(United States),Lunex ventures(Singapore), Placeholder VC(New York), Bag holder Capital(HongKong)and others.

2.Steps in creating a Zcash wallet.

Log into play store then search Jaxx liberty

Search Jaxx Liberty download and install it then open it

Click agree

Select language

Click get started

Click backup now

Click start backup

Confirm phrase

Confirm back up phrase then click continue to complete back up

Now open the app and select wallet scroll down and Zcash wallet will appear

3.why choose Zcash?

I chose Zcash based on its
A)sapling upgrade in 2018 that brought about massive development in Zcash project.

B)Privacy here is controlled or determined by its users.

C)The team they have is large enough and capable to handle any future problem, these team are made of knowledgeable and prominent individuals made up of scientist,engineers etc and that thier website, and whitepaper looks promising.

Advantages of Zcash.

1)Privacy to its users by obscuring addresses,transactions and information's which enables only the sender and receiver to get access.

2)Low transaction fees.

Disadvantages.
1)Fiat currencies cannot be used on the exchange.

2)Zcash has one of the highest inflation rate among cryptocurrencies.

3)Zcash gives it's users option on whether to shield or make thier transactions transparent unlike other privacy coins which are private by default.

Conclusion.
Zcash can be termed as bitcoin of privacy coins but with Zcash privacy feature it has an edge over bitcoin.

Cc:
@levycore