ZCash is truly a privacy-focused cryptocurrency that leverages advanced cryptographic techniques to protect user data. The use of the Equihash algorithm, which is memory-intensive, helps prevent the dominance of ASIC miners, promoting a more decentralized mining environment.
The implementation of zk-SNARKs (Succinct Non-Interactive Zero-Knowledge Arguments) allows for secure transactions while keeping the sender, recipient, and transaction amount secret. This means that while transaction details are hidden, the integrity of the transaction can still be verified, preventing double-spending. The only publicly visible information is the timestamp of the transactions, adding an extra layer of privacy while still ensuring transparency in terms of transaction history.
ZCash's approach to privacy and security makes it a unique contender in the crypto space, catering to users who prioritize anonymity in their financial transactions.
It has been on a steady rise in price in recent days, can it break through its nearest resistance at $42~$45? Check out the price chart below 👇