Zcash (ZEC)

Zcash

Zcash is a privacy-focused cryptocurrency that is based on Bitcoin's codebase. It shares many similarities with Bitcoin, such as a fixed total supply of 21 million units.

Features

  • Privacy: Zcash employs end-to-end encryption to protect your right to privacy. Transactions can either be transparent, similar to Bitcoin transactions, or shielded using zero-knowledge proof.
  • Control: Zcash is a decentralized protocol, which means that your money is yours and not controlled by a bank.
  • Fast, low fees: Zcash transactions are faster than Bitcoin, and transaction fees are usually only a fraction of a cent.
  • Self-funded development: A decentralized ecosystem of developers is paid to add Zcash features and UX improvements.

Use

Zcash transactions can be transparent, similar to Bitcoin transactions, or shielded. Transparent transactions are controlled by a "t-addr," while shielded transactions are controlled by a "z-addr." Shielded transactions use zero-knowledge proof to provide anonymity to the coin holders. As of December 2017, only around 4% of Zcash coins were in the shielded pool, and most cryptocurrency wallet programs did not support z-addrs.

Reward Distribution

While miners receive 80% of a block reward, 20% is given to the "Zcash development fund," which is distributed to Zcash Open Major Grants, Electric Coin Co., and The Zcash Foundation.

... ...
... ...

Where to Buy Cryptocurrency Zcash

If you're interested in buying Zcash (ZEC), there are several options available. Here are some platforms where you can purchase Zcash:

Kraken

You can buy Zcash through the digital asset exchange Kraken. This United States-based cryptocurrency exchange allows you to trade Bitcoin (BTC) and Ethereum (ETH) for Zcash. Kraken has a good reputation and is known for its security.

Coinbase

Coinbase is a centralized exchange where you can buy Zcash. It's quick and easy to create an account on Coinbase and purchase Zcash using various payment methods such as bank accounts, debit cards, or wire transfers.

Other Options

In addition to Kraken and Coinbase, there are other platforms where you can buy Zcash:

  • YWallet: A privacy-oriented wallet and messenger for Ycash and Zcash
  • Sideshift: An exchange that allows you to shift between BTC, ETH, BCH, XMR, XAI, and other cryptocurrencies
  • Mercado Bitcoin: One of the most trusted exchanges in the world
  • Nighthawk: An open-source, privacy-focused wallet
  • Ledger: A hardware wallet technology that provides high-level security for cryptocurrencies
  • Trezor: The most advanced cryptocurrency hardware wallet
  • Binance: One of the world's largest cryptocurrency exchanges
  • Flexa: Offers a fast and fraud-proof payments network

These options provide a variety of choices for buying Zcash, depending on your preferences and location. Make sure to research the exchanges and wallets you choose to ensure they meet your needs in terms of fees, security, and reputation.

Overall, Zcash is widely available for purchase through various platforms and offers privacy and security features that make it an attractive option for cryptocurrency users.

Founders of Zcash

Zcash, a privacy-focused cryptocurrency, was created by a group of scientists and brought to life by the Electric Coin Company (formerly Zerocoin Electric Coin Company) and Zooko Wilcox, a computer security specialist and original cypherpunk.

In 2013, a group of scientists formed to solve the lack of privacy in Bitcoin.

They initially developed Zerocoin, a proposed privacy extension to Bitcoin, but eventually pivoted and recruited additional scientists to create a standalone protocol known as Zcash. The Zerocoin Electric Coin Company, now called the Electric Coin Company, was established in 2015 to develop the protocol.

Zcash was launched in October 2016.

In 2017, the Zcash Foundation was formed to further support Zcash, and in 2020, the Zcash Major Grants organization launched to provide funding for additional developers and community projects.

The founders of Zcash can be credited as:

  • Zooko Wilcox - Computer security specialist and CEO of the Electric Coin Company
  • Group of scientists who originally developed Zerocoin (precursors to Zcash)

Zcash aims to provide private, fast, and accessible transactions for everyone.

The Roadmap and Future Plans of Zcash

Nighthawk Announces Roadmap

Nighthawk, a prominent player in the Zcash community, has recently unveiled the roadmap for Zcash in 2023.

The roadmap includes several updates and improvements:

  • Enhancements to Nighthawk Wallet's user experience, making it more intuitive and user-friendly.
  • An upgrade to the geographically distributed setup of the lightwalletd, a key component of the Zcash network.
  • Feature and service extensions for ZcashExplorer, a platform that provides detailed information and insights about Zcash transactions.
  • Research and development on the use cases of Zero-Knowledge Shielded Addresses (ZSAs) and Unified Shielded Messaging, aiming to enhance privacy and security.

Electric Coin Co. Strategy: A 30-Year Vision

Electric Coin Co.

(ECC) envisions a future where individuals experience greater freedom and security through revolutionary technologies built on the principles of fair access and decentralization. In this vision:

  • The society will have fewer centralized gatekeepers who control participation.
  • Collaboration, creativity, and self-sovereignty will be at an all-time high.
  • Access to education and opportunities will be widely available.
  • Privacy will be normal and expected.
  • A vibrant society will uphold human dignity, security, and consent.

ECC's contribution to this vision is the empowerment of economic freedom for billions, achieved through a fair and open currency accessible to every person on the internet.

Zcash Today

Zcash is a simple and secure digital currency designed to protect privacy in everyday transactions.

It offers the following features:

  • Supported by industry leaders, available in trusted wallets, and listed on high-quality crypto exchanges.
  • Accessible to anyone with an internet connection.
  • Employs end-to-end encryption to ensure privacy rights.
  • Decentralized protocol, giving individuals full control over their money.
  • Enables private messaging along with transactions.
  • Provides faster transactions than Bitcoin with low fees.
  • Features continuous development by a decentralized ecosystem of developers.

ECC Roadmap: Focus on Wallet, Proof of Stake, and Interoperability

Electric Coin Co. has been working on a product roadmap to deliver a world-class user experience for Zcash.

The roadmap is driven by the evolution of the internet, industry research, community sentiment, and market opportunities. The main focus areas for ECC in the next three years are:

  • Developing an official ECC wallet with a highly interoperable Zcash protocol that leverages proof-of-stake consensus.
  • Exploring the potential of Zcash Shielded Assets (ZSAs) and their support within the community.
  • Prioritizing cross-chain interoperability to enhance the compatibility of Zcash with other blockchain networks.

ECC acknowledges and supports the work of other developers in the Zcash community who are contributing to the project's capabilities and expansion.