Zcash (ZEC) is a cryptocurrency that aims to increase privacy in the world of cryptocurrencies. Anonymity is guaranteed by the non-publication of all the details of the transactions within the blockchain. This covers the sender and recipient addresses, as well as making the transaction invisible. Operation is given by the Zero Knowledge Proof algorithm. This algorithm allows you to anonymize various sensitive information.
ZEC is able to encrypt everything from a transaction. So all payment information is protected and the protocol uses a cryptographic system to validate the identity. Zero Knowledge Proof technology uses Zk-Snark, which stands for Zero-Knowledge Succinct Non-Interactive Argument of Knowledge. This system refers to a series of tests in which the user can demonstrate possession of some sensitive information (for example secret key) without however revealing the actual content.
Users can decide whether to send visible or private payments. Payments from one protected address to another visible shows the value of the transaction. Payments from one visible address to another protected will cover the value of the transaction. Then using Zcash you can achieve maximum confidentiality, also having the security of a decentralized blockchain.
CEO Zooko Wilcox-O’Hearn and the programmers who work at Zcash claim to have created the Zcash to provide a top-notch level of privacy to those who don't want to show their transactions. Unfortunately this has unintentionally (possibly) also facilitated illegal activities in deepweb & co.
Zcash allows mining.
Mining is structured so that everyone can mine the Zcash. In fact, the extraction capacity of the Zcash depends on the RAM (Random Access Memory) that is present inside your computer.
Zcash has a fixed total supply of 21 million units. During the first 4 years 20% of the coins are transferred to the "founders prize" through a multi-signature portfolio.
The Zcash's goal is to remain equally interchangeable. The Zcash manages fungibility within the world of cryptocurrencies, disconnecting the "protected" coins from the blockchain.
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