Zcash ($ZEC )— is a decentralized cryptocurrency created in 2016 as a fork of Bitcoin, but with one key addition: a focus on privacy. It allows users to conduct transactions that can be completely anonymous thanks to the use of advanced cryptography — zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge).
Key Features of Zcash
Private Transactions: Users can choose between transparent and shielded transactions. Shielded transactions hide the sender's address, recipient, and amount.
zk-SNARKs: This is a revolutionary technology that allows for the verification of transactions without disclosing any information.
Bitcoin Fork: Zcash has much in common with Bitcoin — a limited supply (21 million coins), a Proof-of-Work consensus algorithm, but with additional privacy features.
Team and Support: Development is handled by Electric Coin Company, as well as the Zcash Foundation — a non-profit organization that supports the development of the ecosystem.
Usage and Applications
Financial Privacy: Ideal for users who want to maintain the privacy of their financial transactions.
Business: Companies can use Zcash to protect commercial information.
Charity and Donations: Anonymous donations without disclosing personal information.
Although Zcash does not have the same popularity as Bitcoin or Ethereum, its unique technology makes it an important player in the field of private cryptocurrencies. With the development of Web3, DeFi, and the growing interest in digital privacy, $ZEC may gain a new wave of popularity.
