What is Zcash (ZEC)?
Zcash (ZEC) is a 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-to-peer technology and is built on the existing Bitcoin protocol. It is a decentralized, open-source cryptocurrency that was launched in 2016.
History of Zcash (ZEC)
Zcash was created by a team of cryptographers and computer scientists led by Zooko Wilcox-O’Hearn. The team was funded by the Zerocoin Electric Coin Company, which was founded in 2013. The company was later renamed to the Zcash Company. Zcash was launched in October 2016, and the first block was mined on October 28, 2016.
Zcash is based on the Zerocoin protocol, which was developed in 2013 by a team of cryptographers at Johns Hopkins University. The Zerocoin protocol was designed to improve upon the privacy of Bitcoin transactions by allowing users to make transactions without revealing their identity. The Zerocoin protocol was later improved upon and renamed to the Zerocash protocol, which is the basis for the Zcash cryptocurrency.
Comparison of Zcash (ZEC) to Other Cryptocurrencies
| Cryptocurrency | Privacy | Transparency |
|---|---|---|
| Bitcoin | Low | High |
| Monero | High | Low |
| Zcash | High | Selective |
Summary
Zcash (ZEC) is a cryptocurrency that offers privacy and selective transparency of transactions. It is based on the Zerocash protocol, which was developed in 2013 by a team of cryptographers at Johns Hopkins University. Zcash is a decentralized, open-source cryptocurrency that was launched in 2016. For more information about Zcash, visit the official website at https://z.cash/.
See Also
- Bitcoin
- Monero
- Ethereum
- Litecoin
- Ripple
- Dash
- Dogecoin
- Stellar
- EOS
- Tether
