What is Zcash (ZEC)? | Zcash ZEC Explained in Under 60 Seconds

2 years ago
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Zcash (ZEC) is a privacy-protecting, decentralized cryptocurrency with enhanced cryptography. Allows for transparent (public) or shielded (anonymous) transactions.

The Zcash coin (ZEC) powers the Zcash network, and is used for transactions & mining rewards. ZEC transactions are recorded on the Zcash blockchain.

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Transparent Transactions are similar to Bitcoin, Zcash allows for transparent transactions, which reveals the users public address. This can be traced using blockchain forensics.

Zcash is also a privacy coin that allows for shielded transactions, where all transaction data (wallet addresses) is fully encrypted, providing enhanced financial privacy to users.

Zcash’s zero-knowledge proof cryptography (zk-SNARKs) allows for anonymous transactions to be sent over a public blockchain. Addresses and amounts are not revealed.

Sapling is a Zcash network upgrade that provides enhanced performance for shielded transactions. The upgrades will help increase the adoption of Zcash shielded addresses.

WEBSITE: https://z.cash/

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