Zcash is one of the cryptos that joined the top currency list one of the latest. However, it does not get in the way of ZEC coin.
In general terms, Zcash is a decentralised, open-source cryptocurrency. The company focuses on the user’s privacy and protection. Zcash is considered to be offering one of the strongest security features if compared to the other popular crypto coins and tokens. Let us explain everything in greater detail:
Zcash was developed out of a need to make transactions private. The fact that Bitcoin transactions are not private was bothersome for some of the crypto users – as they believe, the holders should have at least an option to hide the transactional data from the public eye. In 2016, the community’s expectations were finally met – after the Bitcoin blockchain fork, Zcash was created. The origins of the ZEC network can be traced back to 2013 when Zerocoin was created to address the privacy issued of the Bitcoin blockchain. Zerocoin started to look more like Zcash after collaborating with Zooko Wilcox in 2015.
Every crypto has some distinct features to differ one coin from another (and hence, to sell the product). Well, ZEC is private. Zcash transactions are still posted on a public ledger. However, privacy is ensured with the use of zero-knowledge proofs. These proofs allow transactions to be verified without the personal data disclosure. If you have been asking yourself, whether Zcash can be traced, the answer would be “partially”. It is possible to view some of the info (only at the user’s will) through the so-called viewing keys.
The private Zcash address used for the extra-guarded transactions is called Z-address. In this case, the Zcash wallet address starts with a Z. There is one more type of Zcash address, the T-address. This type of wallet address is used to perform transparent transactions.
Besides, Zcash uses Equihash Proof-of-Work algorithm, which allows Zcash mining to stay decentralised. Due to this, ZEC mining requires more memory, but hey, everything for the sake of decentralisation, right?
Zcash definitely provides more security than most other popular currencies. With ZEC being an anonymous cryptocurrency, the majority of the sender’s and receiver’s private information gets concealed with the network’s special mechanisms. The most important part in security, however, is getting a right Zcash wallet. Guarda always helps with this issue and provides the best Zcash wallet solutions on the market.
Guarda Wallet is a multicurrency non-custodial light wallet. We support the most popular coins and tokens, and Zcash is one of them! It is easy to use, you don’t even need to create an account and you can feel secure since we don’t store any user’s personal data. Guarda was designed as an interface where clients can manage, store, transfer and receive coins and tokens.