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What Is ZCash ?

The crypto coin Zcash wants to improve the anonymity of those using Bitcoin and developed from the Zerocoin project. At first, the protocol for the Zerocoin got improvements and renamed Zerocash, and then in 2016 the Zcash cryptocoin appeared. [1] Zooko Wilcox-O’Hearn is a founder and CEO of Zcash. The founding team also includes Matthew D. Green from Johns Hopkins University who is a cryptographer. One of Zcash’s initial investors is Roger Ver.

The Zcash payments can be seen on a public blockchain, however its users have the possibility of hiding transaction details, such as sender, receiver, and the amount sent. There’s a fixed total supply of 21 million units of Zcash coins, much like Bitcoin. [2]

 

Some users need to prove payment for auditing purposes, and they can do so thanks to the “selective disclosure” feature on private transactions. This is done to permit private transactors to abide with the regulations regarding anti-money laundering or taxing. The transactions are auditable, however it is the participant who has control over the disclosure. [3] Wilcox held virtual meetings with various law enforcement agencies from around the U.S. to describe the basis and even went on record saying that the purpose of this currency is not that of facilitating illegal activity.

 

Since April 4, 2017, Zcash can be seen in the top 10 cryptocoins by market cap.