Zcash (ZEC) is a decentralized anonymous open source cryptocurrency.
Founder is Zuko Wilcox, launch took place on October 28, 2016. Since March 2017, the Zcash Foundation has been financing and developing the project.
Zcash features
Zcash was created using proven Bitcoin Core code, but with significant privacy enhancements
In Zcash cryptocurrency used its own new cryptographic development - proof with zero disclosure zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge). The proof is in possession of the key to information that does not need to be disclosed to confirm compliance. So confirmation of the transaction is based on "honesty" between the blockchain member and the system. In this case the duration of the confirmation should not take more than 1 second and the length of the secret key is no more than a few hundred bytes. Malicious forging of key in Zcash is excluded because it is created by a complex multiparty algorithm called a ceremony.
The use of this cryptographic algorithm while confirming a transaction occurs at the user`s request - client chooses whether his payment will be public or private.
Another important Zcash feature is that each of its units is interchangeable and contains no past history of use, which is also done to ensure anonymity.
Zcash opportunities
1. Anonymity of transactions - the sender, the recipient and the amount are automatically hidden. User has access to the data using a special key.
2. Full nodes in the network do not require saving the entire permanent block.
3. Mining Zcash is identical to mining Bitcoin.
Zcash currency is promising and attractive to make payments around the world, especially in those countries where there is tight control over the users' Internet life. It has enough influential investors which enables Zcash cryptocurrency to be among the top 10 leaders of the global cryptocurrency market.
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