Before Buying Zcash, WATCH THIS! ZEC 2023 Target Price Prediction

Zcash is a decentralized and open-source cryptocurrency that offers privacy and selective transparency of transactions. Zcash payments are published on a public blockchain, but the sender, recipient, and amount of a transaction remain private.

Zcash is based on peer-reviewed cryptographic research, and built by a security-specialized engineering team on an open source platform based on Bitcoin Core’s battle-tested codebase. Our improvement over Bitcoin is the addition of privacy. Zcash uses advanced cryptographic techniques, namely zero-knowledge proofs, to guarantee the validity of transactions without revealing additional information about them.

How Zcash works

Zcash encrypts the contents of shielded transactions. Since the payment information is encrypted, the protocol uses a novel cryptographic method to verify their validity.

Zcash uses a zero-knowledge proof construction called a zk-SNARK, developed by our team of experienced cryptographers based on recent breakthroughs in cryptography. These constructions allow the network to maintain a secure ledger of balances without disclosing the parties or amounts involved. Instead of publicly demonstrating spend-authority and transaction values, the transaction metadata is encrypted and zk-SNARKs are used to prove that nobody is cheating or stealing.

Zcash also enables users to send public payments which work similarly to Bitcoin. With the support for both shielded and transparent addresses, users can choose to send Zcash privately or publicly. Zcash payments sent from a shielded address to a transparent address reveal the received balance, while payments from a transparent address to a shielded address protect the receiving value.

source: https://www.coingecko.com/en/coins/zcash

Most cryptocurrencies expose your full transaction history and holdings to everyone, but shielded Zcash transactions are completely private.

Like Bitcoin, Zcash transaction data is posted to a public blockchain; but unlike Bitcoin, Zcash gives you the option of confidential transactions and financial privacy through shielded addresses. Zero-knowledge proofs allow transactions to be verified without revealing the sender, receiver or transaction amount. Selective disclosure features within Zcash allow a user to share some transaction details, for purposes of compliance or audit.

Zcash also allows for transparent transactions, which are completely interoperable with shielded addresses.

Zcash addresses are either private (z-addresses) or transparent (t-addresses). Private z-addresses start with a “z,” and transparent t-addresses start with a “t.” Between these two types of addresses, there are four transaction types.

Zcash is the first widespread application of zk-SNARKs, a novel form of zero-knowledge cryptography. The strong privacy guarantee of Zcash is derived from the fact that shielded transactions in Zcash can be fully encrypted on the blockchain, yet still be verified as valid under the network’s consensus rules by using zk-SNARK proofs.

The acronym zk-SNARK stands for “Zero-Knowledge Succinct Non-Interactive Argument of Knowledge,” and refers to a proof construction where one can prove possession of certain information, e.g. a secret key, without revealing that information, and without any interaction between the prover and verifier.

source: https://z.cash

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Intro 00:00
Chart 00:10
Market Values 00:23
Technology Overview 00:34
Team 00:50
How Zcash Works 01:06
Zcash Comparison 01:40
Importance of Privacy 01:50
Types of Transactions 02:04
Zcash for Businesses 02:23
Price Prediction 02:43
News 03:14

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DISCLAIMER:
I am not a financial adviser and my opinions are entirely my own. One should evaluate their options and inform themselves prior to investing in any market, and should only invest after discussion with their financial adviser. I am not a financial adviser and my statements should not be taken as financial advice.

Before Buying Zcash, WATCH THIS! ZEC 2023 Target Price Prediction

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Kane Dane