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Zcash, new cryptocurrency launched the 28th October 2016

zcash

What is Zcash ?

Zcash is a decentralized anonymous network using a public blockchain and ZEC coins its associated cryptocurrency.

What are Zcash characteristics ?

Basically, Zcash borrows partly from the Bitcoin blockchain DNA :
• Proof Of Work algorithm that provides the robustness and the security level required for its evolution,
• Same economic model with a 21 million units an emission of of Zcash (ZEC) in total,
• Multisignature transaction function (multisig) that allows electronic signature of a single transaction by multiple parties,

The main evolution present in Zcash is the complete anonymity of transactions based on the zero knowledge proofs.
Unlike Bitcoin, Zcash transactions can be anonymise the sender, recipient, and value of all transactions (excluding multisig) on the blockchain due to zk-SNARK, recent cryptographic method. Only the private key holder can see the content.

Who is Zcash creators ?

A team of cryptographers, developers, engineers and Bitcoin / Ethereum experienced consultants. The majority of these members are part of the Zcash Fundation, which is a non-profit foundation whose objective is to control the maintenance and upgrades of Zcash protocol with the support of their community.

What future for this cryptocurrency ?

In the world of cryptocurrencies, it might be considered as another anonymous token (ZEC coins). However, zk-SNARK is a major cryptographic innovation imported on Blockchain and open source.
We can imagine making this privacy innovation for smart contract on blockchain Ethereum and allow only the parties involved in the transaction to be aware of the whole contractual information exchanged in the Blockchain.

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