Many experts call the Zcash platform unique, because it is based on a decentralized structure that allows you to operate just two addresses. Thus, ZCash acts as an encrypted block that configures the network in such a way that users can choose between an open or a closed transaction option. The existing choice between anonymity and openness of addresses displays the ZCash shell to a new level of security and protection of operations with translation or currency exchange.
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While Bitcoin does not allow you to hide information about cash transactions linked to specific addresses, ZCash solves this problem with the zk-SNARKS utility, which works as a confirmation of the transaction, without revealing the details of the transaction. Encrypted data about the recipient and the sender can be viewed only privately, except that the possibility of a double transaction is excluded in the network.
Given the constant growth of fraud in the field of cryptocurrency transactions, the developers of ZCash sought to launch a platform adapted to protect confidential user information and prevent possible loss of coins due to weak protection of funds. Assess the capabilities of the system in practice, for example, such giants as Google and Facebook, who have information about their users should ensure the safety of this data.
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ZCash cryptocurrency refers to coins of the Altcoins group, but works on the principle of Bitcoin. To date, ZCash has gained wide popularity on major exchanges and trading floors. In early 2018, the capitalization of coins reached a level of one and a half billion dollars, which leads ZCash into the top 20 most popular virtual currencies on the market.
Editor: Yuliya Soroka