The ZEC token is the symbol of the Zcash project, and it is one of the most prominent cryptocurrencies focused on privacy and anonymity in transactions.
A simplified explanation of the Zcash project:
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✅ What is Zcash?
Zcash is a cryptocurrency launched in 2016, aimed at providing privacy and security in financial transactions through advanced encryption techniques.
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🔐 Privacy is fundamental:
Unlike Bitcoin, which records all transactions publicly on the blockchain, Zcash uses a technology called:
> zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge)
This technology allows for the verification of transactions without revealing details such as:
Sender's name
Recipient's name
Amount
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⚙️ Zcash technologies and features:
✅ Optional privacy (you can choose to make the transaction private or transparent).
⚡ Low fees and fast transfers.
🛡️ Some users and institutions use it for financial confidentiality reasons.
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📊 Uses of Zcash:
Privacy protection when sending money.
A payment method in some stores that support cryptocurrencies.
Storage as a digital asset (like digital gold).
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📉 Is the currency legal?
The currency is used legally in many countries, but some governments are cautious about high-privacy coins, as they may be used in illegal activities.
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💡 Is it worth investing?
Zcash is considered a strong technical project, but it is subject to price fluctuations, like other cryptocurrencies. It is preferable to invest after good research and following regulatory news related to privacy coins.