Since the start of Bitcoin in the financial and technological world, with the concept of producing improvements, various currencies have also emerged. Despite being the pioneer and the current leader by market capitalization, Bitcoin [BTC] it's not the best deal out there when it comes to technical capability and potential. But credits should be given to digital gold because that's where it all started.
Some of the new cryptocurrencies were born as an idea to improve Bitcoin or attempt to expand its scope by focusing on one feature more than others that could be: privacy, speed or security. Zcash is one of the main coins in terms of privacy.
Information on Zcash
His story begins with Matthew D. Green – Professor of John Hopkins University in 2013 introducing the protocol called Zerocoin. At that point it represented an extension protocol for the Bitcoin network to power the blockchain privacy game. With it, users were able to do it to destroy coins while they return an equal value of them later. Shortly thereafter, Mr. Green made public that a new form of Zerocoin is found in the works called Zerocash.
This marked an important step towards today's Zcash point of view as Zerocash was a complete new protocol for which it was not designed Bitcoin improvement. Bringing the feature to hide even the amount of coins returned after having destroyed them, his privacy was at a bar even higher than the original protocol. Furthermore, the size of transactions decreased by 98%.
All of the above was made real through the zk-SNARK Argument of Knowledge or Zero-Knowledge Succintt non-Interactive that was integrated and also as a very possible solution introduced for the problem of resizing Ethereum from its main mind Vitalik Buterin.
We can actually scale asset transfer transactions on ethereum by a huge amount, without using layers 2 that introduce liveness assumptions (eg channels, plasma), using ZK-SNARKs for mass validation transactions. Here's how we do it.
There are two classes of users: (i) transactor and (ii) relayer. A relayer takes a series of operations from the transporter, and combines them all in one transaction and makes a ZK-SNARK to prove validity, and publishes ZK-SNARK and transaction data in a highly compressed blockchain form. A relay race is rewarded for this by transporter transaction fees.
The system is managed by a contract, whose status consists exclusively of two
bytes32values that represent the roots of Merkle: heading (A) and balances + nonces (B). A starts as a root of Merkle's 224 zero voices and B as Merkle tree of 2 ^24 (0, 0) tuple.
Zooko Wilcox-O & # 39; Hearn at the helm of Least Authority in 2014 with Matthew D. Green formed Zcash Company or Zerocoin Electric Coin Company. The team's growth process continued and eventually ended with the decision and completion of Zcash forked the Bitcoin base.
Read also: Stellar Stories (XLM), Most recent news / Development and forecasting of future prices or other coin covers / stories from Ethereum World News
Coinbase – On July 13, Coinbase announced that it was exploring the possibility of listing Cardano, Basic Attention Token, Stellar Lumens, Zcash and 0x on its platforms. This was months ago and although the post did not explicitly guarantee that the coins would be added to the exchange, many expected it to happen. This could only follow the recent announcement made by the exchange.
The move was followed by another post via the Coinbase twitter handle which announced that the team is planning to speed things up with the lists.
Today we announce a new quotation process that will allow us to quickly add most of the digital resources that meet our standards and comply with local laws, providing our customers with the tools to discover, evaluate, negotiate and use digital resources: https : //t.co/6AteNMOnYr
– Coinbase (@coinbase) 25 September 2018
Bittrex – One of the first 50 exchanges of cryptocurrencies in terms of trade volume worldwide, announced its decision to enable encrypted / fiat trading pairs for Cardano and Zcash at the end of August. His official account tweeted him and subsequently confirmed via an email sent to his subscribers.
We are distributing more USD pairs. On 5 September, we are launching US dollar markets (USD) for Cardano (ADA) and Zcash (ZEC). suitable #Bittrex accounts created before August are already enabled for trading in USD. New user or do you want to deposit / withdraw USD? Details: https://t.co/KA248OA2Bz pic.twitter.com/pzCry5OdTr
– Bittrex (@BittrexExchange) 29 August 2018
Read also: Vitalik: Ethereum (ETH) can scale up to 500 Tps using ZCash ZK-SNARKs
ZEC / USD
For now to write the pair is changing hands at $ 134.40 with 1.31% in green for the last 24 hours. With a market capitalization of $ 656.9 million, 21 of the major currencies are ranked. Since the last dump of violent digital resources occurred at the beginning of September, ZEC had one of the most stable price recoveries on the market. With the goal of making it above the main monthly mark of $ 135.00, it is welcoming a stable gain. If the well organized soil holds up it is a matter of time before the ZEC against the US dollar returns above its levels at the end of August.