bitcoinBTC/USD
$ 19,149.07
ethereumETH/USD
$ 1,056.32
tetherUSDT/USD
$ 1.00
cardanoADA/USD
$ 0.449533
xrpXRP/USD
$ 0.316317
usd-coinUSDC/USD
$ 1.00

Zcash (ZEC) Cryptocurrency Review-What Are ZEC Advantages?

What differentiates Zcash from other cryptocurrencies?

Zcash (ZEC) is known as a digital currency that is based on a decentralized blockchain. Due to its use of cryptography in order to be able to provide higher anonymity, it differentiates itself from other widely used cryptocurrencies such as Bitcoin or Ripple

Zcash is the first cryptocurrency that doesn’t utilize permissions and it’s also open-source. In essence, ZCash can be called a Bitcoin version, albeit improved on important elements. 

All information on ZCash is encrypted using zero-knowledge cryptography, concealing your payment history, in contrast to other cryptocurrencies where if someone knows your address then your entire payment history is public. Because of this tight security, users aren’t able to see the sender, recipient, and value of the blockchain exchange.

People regard most of the value and the potential profit that can be made using this cryptocurrency merit of this promise of a better privacy policy.

Zcash all-time price movements. Source: Coinmarketcap

ZCash has its roots in Zerocoin, which first came into fruition in the 1980s. Matthew Green, who is currently a professor at John Hopkins University, developed the platform. At the time of its development, he was part of the institution as a graduate student. 

What Are Zcash’s Main Advantages?

When referring to its advantages, among many others, 4 of them stand out that make this cryptocurrency very innovative and a strong competitor worth investing in:

  1. Privacy
  2. Fewer Reports
  3. Easy Mining
  4. zk-SNARKS Technology

Let’s break down these advantages one by one below:

  1. Privacy

We are sure to say that this is probably the biggest factor that makes Zcash different from other cryptocurrencies. With ZCash your anonymity is truly protected and this has really worked into making another system that is separate, just for the simple task of being able to provide its users with increased privacy. 

The system, in addition to effectively being able to prevent criminal activities that can happen between payments and transactions, also shows to be very promising when talking about preventing any attack of malicious nature on addresses that possess a good amount of currency. 

This undoubtedly makes Zcash a better option when it comes to privacy as it provides users with animosity, contrary to the way other major cryptos make data public on public ledgers, such as Bitcoin.

  1. Fewer Reports

To this day, there has never been a case where a bug report is made against the protocols of ZCash. Also, the platform still has no error problem when regarding its network. In addition, Zcash has never been breached so we are safe to say the security improvements have totally worked in this case.

  1. Easy Mining

ZEC can be mined without any expense by anyone who owns open GPU hardware. This hardware is used due to the fact that they are much more affordable and don’t take much energy in comparison to other POW mining rigs.

  1. zk-SNARKS Technology

This new technology is zero-knowledge and its applications include much more than just payments and transactions. Relations between different digital processes are verified by this type of security layer without revealing much information.

Should I Buy or Trade ZCash?

There are many reasons why ZCash has become widely accepted. ZCash has a lot to offer to potential investors and cryptocurrency explorers. As an added benefit, as the roadmap is followed and after future updates, we can expect to see the advantages only increasing more. Buying and HODLing Zcash could be a good idea as its price is expected to increase in the future according to crypto analysts.

Takeaways

  • ZCash (ZEC) is known as a digital currency that is based on a decentralized blockchain.
  • Due to its use of cryptography in order to be able to provide higher anonymity, it differentiates itself from other widely used cryptocurrencies such as Bitcoin or Ripple.
  • ZCash is the first cryptocurrency that doesn’t utilize permissions and it’s also open-source.
  • All information on ZCash is encrypted using zero-knowledge cryptography,  concealing your payment history
  • People regard most of the value and the potential profit that can be made using this cryptocurrency merit of this promise of a better privacy policy.
  • ZCash has its roots in Zerocoin, which first came into fruition in the 1980s. 
  • Matthew Green, who is currently a professor at John Hopkins University, developed the platform.
  • With ZCash your anonymity is truly protected and this has really worked into making another system that is separate, just for the simple task of being able to provide its users with increased privacy.
  • Zcash is a better option when it comes to privacy as it provides users with animosity.
  • To this day, there has never been a case where a bug report is made against the protocols of ZCash.

 

Also read:

Related News

Is KuCoin Token a Good Investment – Should You Invest in KuCoin?

The cryptocurrency market saw one of the biggest bull runs in its history back in 2021. During this time, several tokens and cryptocurrencies made millionaires overnight. However, as the market grew, people began taking profits, leading to a market correction. In early 2022, the market was attempting to recover, but with everything that was happening around the world, it failed to do so.  One token that is performing well even during these

Read More »

How to Use Pacoca  – A Step-by-Step Guide

  Pacoca is a comprehensive DeFi hub where investors may monitor and invest in several initiatives. Since its inception, the platform has seen tremendous success, drawing a large number of daily investors who use it daily. Decentralized finance (DeFi) is the most profound change to ever occur in the financial markets, and it is expanding rapidly, with almost new protocols being released each day.  Although, there is still a severe

Read More »

Here are 3 Reasons Why You Should Use KuCoin Exchange to Buy Cryptocurrency

KuCoin is a global exchange for cryptocurrencies that started operating in 2017. The platform enables trading in futures and margin products using an extensive selection of tokens. In addition, KuCoin is an attractive cryptocurrency exchange due to its low fees and extensive feature set. KuCoin’s extensive features, low fees, and a wide variety of cryptocurrencies make it an ideal platform for experienced and even new cryptocurrency traders. However, KuCoin lacks an operating

Read More »

My Coins

bitcoinBitcoin
$ 19,149.070.93%
ethereumEthereum
$ 1,056.320.77%
cardanoCardano
$ 0.4495330.72%
tetherTether
$ 1.000.02%

Newest Videos on YouTube

We inform and educate people about Cryptocurrencies and Blockchain technology.

© Copyright 2021, All Rights Reserved,
Crypto Academy

Bitcoin

Contact Us

For any question conatct us through:

sales@crypto-academy.org

Disclaimer: All information and materials on this website are for educational purposes only. Crypto-academy.org does not provide any form of financial advice. Cryptocurrencies are highly volatile, therefore any form of investing carries a high level of risk to your capital. It is recommended that you seek professional advice prior to implementing any investment or financial plan.

We do not ask you for your Cryptocurrency / We do not hold your Coins / We do not ask for Private Keys / Be aware of scammers and imposters.

Contact us only through: sales@crypto-academy.org