Simple Crypto Series-- ZCASH
APN is a huge crypto supporter and we love when thing are simple and easy. That's why we will be doing a easy to read and fairly basic 'about' article on many cryptocurrencies. We're aiming to help the daily usage and inevitable adoption of crypto along. Spend Crypto and Save 10%
We're starting with this series we call "Simple Crypto" Enjoy!
Zcash offers a stellar encryption and the best part is that you won’t have to worry about having your data exposed to the world. It really comes in handy since you are getting control over what you disclose, if you want to keep any information public or if everything is private. It’s a stellar tool to use and it does bring in front some amazing benefits and results.
With Zcash you can easily send and receive payments securely and everything is encrypted. You also have complete control over what’s shared, and the best part is that the prices are quite good too, so it’s one of the cryptocurrencies where you can trade without issues. Zcash is well worth trying, especially if you’re new to the crypto world.
Zcash works in a similar way to bitcoin, the idea here is that your transaction data is posted to a transaction blockchain. But there are differences, and the main one is that your transaction and personal data are confidential.
No one will know what transactions you made and there’s no way for other people to track what you purchased online or anything like that. The system itself allows you to verify the transaction without knowing the amount transferred, who sent it and who received it. You do have selective disclosure features however, if both parties agree you can share some of the details and have them visible. So Zcash is very customizable and adaptable to your own requirements, which is a good thing.
When was Zcash created?
Zcash was started in 2016 by some of the top cryptographers in the world. The protocol used to create Zcash was created by scientists at the UC Berkeley, Tel Aviv Unviersity, MIT, Technion and many others.
Fixed supply of units
Zcash has the same limited supply of units as Bitcoin, 21 million units in total. You can have your coins in a shielded pool or in a transparent pool, depending on the situation. At the end of 2018 only 5% of the coins were in a shielded pool, but more and more web based wallets and regular wallets started to support z-addrs.
There still are quite a lot of Zcash coins left to mine, only around 7.9 million are mined now, so it’s just a bit over 35%. The price is also higher than many cryptocurrencies out there, which makes it one of the better cryptocurrencies to trade with.
Need to securely and easily purchase crypto? We recommend: Coinmama https://go.coinmama.com/visit/?bta=58939&brand=coinmama
and: Binance https://www.binance.com/en/register?ref=25519120