Popularity And Prospects Of The Zcash Cryptocurrency

The Zcash (ZEC) cryptocurrency stands out for its uniqueness among numerous representatives of crypto assets. On the website https://plisio.net/accept-zcash you can enable payment in Zcash from your customers.

Uniqueness of Zcash

The Zcash (ZEC) cryptocurrency makes it possible to conduct transactions on the network anonymously. This is especially important for those who are just entering the world of crypto space.

The developers of Zcash created a truly unique cryptocurrency based on open source code, thanks to which all transactions conducted on the network have a high degree of confidentiality and are characterized by public transparency.

coins and trading course on the screen

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In other words, each of the payments carried out on the network is reflected in the general block chain, but outside participants cannot see data on who was the sender of the transaction and who will be the recipient.

Being already quite popular, Bitcoin had far from the best technical characteristics, including poor anonymity. The appearance of such a competitor as Zcash among altcoins with high criteria for anonymity provided users with the opportunity to get a more interesting prototype of the same Bitcoin, but with much more improved characteristics.

Anonymity of Zcash

The developers of Zcash managed to achieve such a high level of anonymity thanks to the use of the unique Zerocoin protocol, which protects data on transactions with special encryption, which makes it impossible for third parties to receive them. To confirm your actions, you should use a special script.

What are the main features of Zcash

This method is called zero-agreement proof zk-SNARK, which fully ensures the security of all information data passing through the blockchain. Any public information on the transaction is presented in encrypted form, and the use of zero-agreement proof serves to confirm the fair conduct of the transaction by each of the users. Data such as user names, their accounts and balances are subject to encryption.

The passage of transactions on the network is carried out similarly to the Bitcoin network, but only here the user can independently choose whether to make them hidden or public. If the funds are transferred by the user from an anonymous address to a public one, everyone will be able to see the data on the amount being spent, if on the contrary, the recipient’s address will be anonymous, then the information will remain inaccessible to others.

Zcash wallet

When any new cryptocurrency appears, an appropriate address is required where users will store their funds, that is, a Zcash wallet. It is almost the same as many digital currencies, but its main difference is anonymity.

crypto wallet animated

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If other currencies use a public t-address, which is used for pools and exchanges, an anonymous z-address has been developed for this currency, based on a proof with a null agreement. It requires much power to conduct transactions.

A distinctive feature of Zcash is that users can create both a public and an anonymous wallet at their discretion.

At the initial stage of the launch of Zcash, many agreed that this currency would eventually be a worthy competitor to Bitcoin.

Photo by Kanchanara on Unsplash

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