Zcash (ZEC) is a cryptocurrency that is focused on providing privacy and anonymity to users. It was launched in October 2016 and is based on the Zerocoin protocol. Zcash is the first digital currency to offer zero-knowledge proofs, which allow users to hide their transaction data from the public.
Zcash is designed to be a decentralized and open-source digital currency. It is powered by a public blockchain that records all transactions, but the details of the sender, receiver, and amount transferred remain private. It uses a proof-of-work consensus mechanism to validate transactions, which means that miners are rewarded for their work with newly minted ZEC.
Zcash also offers a feature called shielded addresses, which allow users to send and receive funds without revealing their identity. This feature utilizes the zero-knowledge proofs technology to encrypt the sender and receiver details within the blockchain.
Due to its privacy and anonymity features, Zcash is becoming increasingly popular with cryptocurrency users. It has a market capitalization of around $1.1 billion and is ranked in the top 30 cryptocurrencies by market cap. It is also supported by major exchanges like Coinbase, Binance, and Huobi.
Overall, Zcash is a promising cryptocurrency that offers a high level of privacy and anonymity to users. Its use of zero-knowledge proofs technology and shielded addresses makes it attractive to those who want to keep their transactions private. Its growing market cap and widespread exchange support also indicate that it has potential to become one of the leading digital currencies in the future.