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ZEC (Zcash) Token Price & Latest Live Chart
2023-07-11 20:30:35
26.53 USDT

Discover the latest ZEC price with FameEX's ZEC/USD Price Index and Live Chart. Keep up-to-date with the current market value and 24-hour changes, as well as delve into Zcash's price history. Start tracking ZEC price today!

Daily historical price (USD)
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What is ZEC (Zcash)?

Zcash (ZEC) is a cryptocurrency that emphasizes user privacy and data protection. This digital asset integrates sophisticated zk-SNARK zero-knowledge proof technology, allowing network nodes to authenticate transactions while keeping the transaction details undisclosed. Unlike many popular cryptocurrencies like Bitcoin (BTC) that operate on a pseudonymous basis, Zcash provides enhanced privacy by keeping transaction details like sender and receiver addresses and the transacted amount completely anonymous, effectively disrupting typical data science and blockchain forensics methodologies.

Launched on October 28, 2016, Zcash has its roots in Bitcoin’s original codebase, yet it improves upon it by prioritizing user privacy and security. While Bitcoin transactions make users' financial history and current holdings public, Zcash's shielded transactions safeguard users' personal information. The Zcash platform was conceived and brought to life by a team of scientists led by Zooko Wilcox-O’Hearn in response to the blockchain community's demand for a financial system that blends the openness of cryptocurrencies with robust privacy features.

How does ZEC (Zcash) work?

Zcash is a privacy-focused solution that leverages cutting-edge mathematical and computer science principles to deliver unparalleled security. Zcash gives its users the choice to transact with both private (Z-addresses) and public (T-addresses) addresses. Z-to-Z transactions, while logged on the public blockchain, encrypt the addresses, transaction amounts, and memo fields, ensuring these details remain invisible to the public. If users wish to reveal this information for auditing or compliance purposes, they can utilize view keys and payment disclosure tools.

The cornerstone of Zcash's privacy mechanism is the Zero-Knowledge Proofs, or Zk-SNARKs. These proofs enable the encryption of ZEC transactions on the blockchain while still verifying them as legitimate. This intricate mechanism allows a user to affirm the possession of certain data (like a secret key) without disclosing that information and without any additional transactions between parties. In contrast, T-to-T transactions in Zcash function similarly to Bitcoin transactions with all transaction details being public. The two Zcash address types are interchangeable and funds can be sent between either type.

ZEC (Zcash) market price & tokenomics

Zcash has a maximum supply cap set at 21,000,000 ZEC tokens. This supply cap is never set to increase. The creation of ZEC is through a proof-of-work (PoW) mechanism, similar to Bitcoin's approach. The mining rewards are subject to halving events at different time intervals and further adding to its value. 10% of all ZEC (2.1 million) created will be allocated to the founders as a fee extracted from mining rewards. As of now, ZEC (Zcash) is ranked #75 by CoinMarketCap with market capitalization of $687,428,751 USD. The current circulating supply of ZEC coins is 16,328,269.

Why do you invest in ZEC (Zcash)?

Investing in Zcash could be an attractive proposition for several reasons. Firstly, Zcash's emphasis on privacy addresses the increasing concerns of anonymity and data protection among cryptocurrency users. Its use of Zk-SNARKs ensures that users never need to reveal their addresses to one another, significantly reducing the risk of information exposure. Secondly, like Bitcoin, Zcash is decentralized, offering the benefits of a distributed ledger technology devoid of central authority. However, Zcash takes it a step further by providing more comprehensive digital cash representation, mainly due to its privacy features. With a hard cap on total supply and halvings for mining rewards, ZEC, like Bitcoin, incorporates scarcity into its design, potentially increasing its value over time.

Is ZEC (Zcash) a good Investment?

As with any investment, potential Zcash investors must weigh the risks and rewards, taking into account their financial situation, risk tolerance, and investment goals. That said, Zcash's unique value proposition such as offering true privacy and anonymity in the blockchain space may appeal to a broad swath of users, and the scarcity built into its design could make it an attractive long-term investment. As an established cryptocurrency that has weathered numerous challenges, Zcash has demonstrated its resilience and its commitment to providing secure, private transactions, making it a strong contender in the crypto space.

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