What is ZCash (ZEC) and how can I buy it?

Price and capitalization of ZCash (ZEC)

You will find below the main information concerning the price and the capitalization of ZCash with in particular:

  • the price: in dollars and bitcoins, as well as the price variation over the last 24 hours
  • the rank: world ranking of ZCash compared to others cryptocurrencies (the ranking is re alized according to the market cap of each crypto)
  • the market cap: which represents the capitalization of ZCash in dollars, that is to say the total amount in circulation
  • the volume: which corresponds to the total amount of ZEC tokens exchanged over the last 24 hours (in dollars)What is ZCash crypto (ZEC)?

ZCash (ZEC) is a crypto-currency which is based on a blockchain,  decentralized , like Bitcoin , but which, unlike this one, allows you to make anonymous transactions (amounts exchanged, users involved in the transaction, etc.). When you know the Bitcoin addres of a person, you can track its transactions and you can see the amounts exchanged and to which addresses the funds are sent (or from which addresses the funds received). ZCash wishes to respond to this problem by encrypting all information relating to transactions carried out on its network .

The crypto ZCash uses ZK-Snarks to secure transactions made on its network. This allows them to maintain an account register up to date and secure while keeping the information relating to users and the amounts exchanged during transactions anonymous. The anonymization of financial exchanges is made possible by the use of the token ZEC which is based on a protocol called Zero-Knowledge proof . This allows exchanges to be made anonymous by erasing the token history at the time of the transaction. The user proves that he has a ZEC token at the time of the exchange and then the latter is destroyed (burn) to make way for a new blank token (without history) which will be used during the transaction. There is no relationship between the new token and the destroyed token, so it is impossible to make a link between a token and a user.

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ZCash was founded in 2016 by Zooko Wilcox , a cryptographer in his forties. Many behemoths in the cryptocurrency world are working on or supporting the project. This is particularly the case with Roger Ver , Barry Seibert  and Pantera Capital . The ZCash code is open source , the token will be issued to 21 million copies at most, like Bitcoin. Regarding the mining , a block of ZCash is discovered every 75 seconds, compared to 10 minutes for Bitcoin.

How is ZCash funded and distributed?

ZCash has been the victim of much controversy about its organization and its business model . ZCash is a company , unlike Bitcoin or Ethereum which are open source communities . In addition, ZCash remunerates the investors and officers / employees of the company with a 10% tax levied on mining rewards called: Founders reward (founders’ awards).

This approach makes sense in a way because it helps reconcile the long term expectations of the ZCash community with the objectives of the company. This financing strategy should allow the company to continue development and research. However, some things are still unclear , such as the distribution of the gains received from this tax between investors and managers / employees of ZCash.

Another point is controversial. The Digital Currency Groupe , which owns many media specialized in cryptocurrencies , is also one of the biggest investors of ZCash. He is accused of doing an abusive promotion of ZCash to serve its own interests.

How to buy ZCash (ZEC)?

You can buy ZCash on many exchanges , the platforms with the most volumes exchanged are: HitBTC and Binance .

To simply buy ZEC tokens, you must first buy bitcoins (BTC) on a shopping platform like Coinbase .Once your BTC is in your pocket, you can transfer them to an exchange platform like Binance to buy ZEC in exchange for your BTC.

Limits and advantages of the ZCash project and the ZEC token

Limits

  • The anonymous crypto sector is very competitive (Monero, ZCoin …)
  • Miners must pay a tax on their earnings
  • Already victim of several controversies
  •  

Benefits

  • A team of cryptocurrency heavyweights
  • ZCash mining is on the rise these last months
  • Available on many exchanges
  • Significant transaction volumes
  • The number of tokens issued is limited
  • A proven and effective transaction anonymization system
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