Zcash Review: ZEC Potential in 2020?

► Zcash Overview: https://www.coinbureau.com/education/what-is-zcash/
► Zk Snarks: https://www.coinbureau.com/education/zero-knowledge-proofs-zksnarks/
► The Ceremony: https://www.coinbureau.com/education/zcash-ceremony/
► Zcash Mining Pools: https://www.coinbureau.com/mining/best-zcash-pools/
► Sapling Upgrade: https://www.coinbureau.com/analysis/zcash-sapling-upgrade/
► Best Zcash Wallets: https://www.coinbureau.com/analysis/best-zcash-wallets/

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⏰ Time Stamps ⏰

1:04 Introduction
2:25 Main Zcash Features
3:30 How Zcash Works
4:51 Zcash privacy tech
6:23 Mining & Consensus
7:20 Ceremony, Founder’s Fund & Consensus
8:54 Zcash Team & the Electronic Coin Company
9:37 Sapling Upgrade & Blossom
10:11 Zcash Markets & Wallets
11:10 Conclusion

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⛓️ 🔗 Helpful Links 🔗 ⛓️

► Website: https://z.cash/
► ECC: https://electriccoin.co/
► Foundation: https://www.zfnd.org/
► Zerocash Whitepaper: http://zerocash-project.org/media/pdf/zerocash-extended-20140518.pdf
► Documentation: https://zcash.readthedocs.io/en/latest/

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📱️ Socials 📱

► Zcash Community Site: https://www.zcashcommunity.com/
► Forum: https://forum.zcashcommunity.com/
► Twitter: https://twitter.com/electriccoinco

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📝 Project Overview 📝

Zcash was built on the original Bitcoin codebase. The Bitcoin fork that became ZCash occurred in 2016, resulting in a coin specifically designed to provide anonymous transactions.

The team behind ZCash wanted a private and fungible option within the crypto community. Originally called ZeroCash, the project was eventually renamed to ZCash.

ZCash allows you to control exactly what you want to share. You can shield your address so that it’s not viewable on the network, or you can provide access to payments and transactions to trusted third parties.

⚙️ Technology ⚙️

Zcash has two types of transactions. They have transparent transactions that can be validated on the blockchain but then they also have stealth addresses.

Once you send Zcash to this adddress, the transaction is kept completely anonymous. All information about the sender, reciever and amount is hidden

To validate that a person has the necessary funds to send a certain amount of ZCash, the network uses zk-Snarks. A zk-snark is a protocol used to validate that nobody on the network is stealing or cheating.

ZCash uses proof of work mining algorithm and relies on the Equihash algorithm. While you used to be able to mine Zcash with a GPU, this has become unprofitable on account of all of those Equihash ASIC mining rigs that are on the market.

💰️ Token History 💰

ZCash launched through an elaborate event called the trusted ceremony. This was essentially the point where the initial SNARK public parameters were created.

The Founder’s Reward is the incentive mechanism used by the project for the founders and early investors. They receive 10% of all mining rewards, which will wind up being roughly 2.1 million ZEC over the course of a four-year period.

Zcash has a total mineable supply of 21 million coins. Currently, there are just under 8 million ZEC coins in total supply and circulation.

👨‍💻️ Team, Partners & Development 👨‍💻

The ZCash team is led by Zooko Wilcox, who founded the project in 2016. Zooko currently serves as the project’s CEO, with a solid background in decentralized systems and cryptography.

While ZCash is an open-source project, the team works for Zero Coin Electronic Company. ZECC is a registered company that does the development work for the ZCash project.

ZCash also boasts a strong advisory board. Included amongst the ZCash project backers are Roger Ver, Erik Voorhees, and Barry Silbert.

There was a sapling upgrade to the network that took place in October of 2018. Sapling introduced shield addresses to ZCash, which helps reduce the time of constructing transactions while also reducing the amount of memory required.

📈 Trading & Wallets 📈

ZEC is a pretty popular coin that is available on a number of exchanges. There’s plenty of volume done each day on exchanges like CoinEx, Binance, and Huobi. These platforms do literally millions in ZCash trading on a daily basis.

There are plenty of storage options for ZEC so you won’t have trouble – we would suggest a hardware wallet.

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📜 Disclaimer 📜

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.

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Post Author: CoinCryptoNews