Steemit Crypto Academy Season 2: Privacy Coin by @salemumar5

in SteemitCryptoAcademy3 years ago (edited)

بِسْمِ ٱللَّٰهِ ٱلرَّحْمَٰنِ ٱلرَّحِيمِ

ٱلسَّلَامُ عَلَيْكُمْ

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

Z CASH is similar to BTC as both are digital currencies but the main thing and you can say the features that make difference in it is "PRIVACY". This coin is on of the most PRIVACY COIN in the global market, this coin gives privilege to their users that the transactions can be secured and private between yourself and the trail of data is in your control.

As Z CASH provides you the opportunity that its up to the customer will via he wants to show his trail or not by using T address and Z address. You can use T address for showing your transactions and for hiding it you can use Z sampling address thus this make it most unique in features rather than other, thats whenever the privacy coins launched thus this coin meets both scenarios.

Z cash came in to the market EST. oct. 28th.2016, the cryptographer decided launched the BTC alternative coin of Z cash but featured it by making it more private than BTC, this is evolved by developer and Z cash is grown in multi organizational machine that acts as host to the code and currency for an open and encompassing financial structure.

This coin was launched Cypherpunk (Zooko Wilcox-O'Hearn)computer security experts and an entrepreneur. He also founded ECO which develops the Z cash ecosystem. Further more for the sake of security he also founded authority enterprises, a technology company which manages to improve the security system to converse the fundamentals of privacy and security.

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  • There are two proponent things in ZCASH ecosystem.

1 One the ELECTRIC COIN COMPANY which is made up of smart technical developers and educators it's the chief protagonist of the Z cash and exist only to support Z CASH developer. The ECO ain't control the ZCASH currency, miners or distributors because it is the decentralized blockchain network with the proof of work on chain governance.

2 The second thing is that ZCASH is genuine charitable organization to helping many network for attaining and sustain in the market to open such things from which people can protect and make their things more private.

Z cash is unique because it carries both public and private transaction trails, I had mentioned above the T address and Z address now attaining fundamentals I came to know the shield address known as Z addresses. shield address can be verified through disclosing the sender's o nor receiver's balance even the transaction showed. It works in a process of cryptographic technology known as zero knowledge proof (zk snarks) this allow other party to prove that above thing is true, without showing any information aside from the sustainability of statement itself.

lets check the market cap for more fundamental details..
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Its 24 hour price trade volume $487,928,013 USD with the Circulating Supply 11,904,468.75 ZEC. Its market cap is about $1,963,113,760.

This fundamentals of Zcash is so strong and feel me that this is most secure and private among other privacy coins exist because the feature of T and Z address make it much unique in peoples view though it management and technical team graph this coin in strong fundamentals.

2 Describe the steps to create a wallet for the privacy currency of your choice. (Screenshot required)
lets start the ZCASH tutorial..

  • Open coin market cap for the URL.
  • Check twitter and look at number of followers one main thing CEO and IT manager.
  • Check the URL is listed in twitter or not.

Practically checking that its secure or not by going to coin market cap and search ZCASH link and got checked clear and secured for more you can read the white paper also.

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Almost 75k followers seems that its quite secur3e and ain't scam coin, though goin for next step.

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  • Click on create new wallet there will be a seed phrase key gonna appear approve and safe them.

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-After that open the setting check main net network and registration.

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  • Easily it will be shown that wallet is running although its ZEC lite version for demo.

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3 Please provide an explanation of why you chose the privacy currency. (List the advantages and disadvantages)

I used this platform because of getting secured program and sometimes in future If will do big transaction I won't liked that people see my trail for securing them I may use this but as far govt intervention is neglected I privately share with govt about my activities.

Howbeit millionaire might like it but always there is advantage and disadvantage too regarding anything even though this platform also ha some merits and demerits .

ADVANTAGE

1 This is the private platform though you have to take care of your assets by your self and no one is going to seek your activity.

2 No one can trace your transaction trail because of high software working and guarantees you with their work.

3 You can get your self as far the social media you use and every where there is personal things uploaded though its very good that whom and how reveal your data with any person that cant be misused.

4 Though it is totally decentralized and every transaction mean is under your action that what we all need.

5 When you neglects the security it might cause you in danger by theft and hackers or even physically attack on you, you can make it similar with crypto currency platform that if your private keys might leaked all your data can be traced and hacked easily.
6 Its not good that every privacy of your transaction is revealed in public though you also not feels good so let it feel by yourself how would you feel when you get loss your asset and any other thing.

DISADVANTAGE
  • This can lead to freedom for every individual from which you can do anything but no one is taking no actions for your self this ain't liked by govt thats why it is banned in some country.

  • Every individual should take control of their transaction through which he can in danger from threats and hacking activity.

  • As far any person who had loss his or her asset and find their self scammer activity than he won't get his self get rid of that because govt ain't owned the platform though the trader might suffer loss and tension in this case.

Conclusion;

far from this type of news of privacy coin is existing people might seems in joy mood because many traders get their self secured and might some don't won't to share their things on public though its a good thing for them while securing transaction in cryptocurrency is being good thing because it is ain't safed at its look

As sur illustrate us that this thing disappeared the difference between financial system from cryptocurrency structure this is what some users dont liked it as they feel comfortable more in cryptocurrency digital platform.

My opinion is that it should be implemented thoroughly in all over the digital platforms but one authority or system should engages in it to take care of the cons of this platform through which every single can get benefit from it.

Zcash coin seems to be very effective and efficient because it contains Very awesome features that every one liked it, that I elaborate them briefly and to confidential and simple transactions you can use this because it gives you easy way to send and receive trails.

Cc:-
@steemitblog
@steemcurator01
@steemcurator02

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Hi @salemumar5, Thank you for taking my class in the 8th week.

You didn't put #cryptoacademy in the first 5 tags of your post, please pay attention to the rules and guidelines before making assignments.


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