Review on Zcash by QUAN VU VAN

Name: Zcash
Item: Zcash
Rating: 5

September 01, 2018

At the time of writing this, a single Zcash coin will cost USD 458.23. Well…

At the time of writing this, a single Zcash coin will cost USD 458.23. Well, talking about the future, like every other digital coin, Zcash’s price is volatile and subject to constant changes. As per Poloniex statistics, Zcash had a very good time during its launch. At that time, the high demand of this digital currency led its market value to rise way above two million dollars.
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Pros

Zcash’s model is very similar to the one employed by bitcoins; the only difference is that its transactions can remain anonymous, and that is what helps in solving fungibility issues that are often faced by the owners of other digital currencies. The main issue with having every transaction openly and clearly traceable on public ledgers is that the coins could be easily tainted. For this reason, some leading bitcoin exchanges have the right processes in place to shut down all the accounts that either have tainted coins or are sending funds to gambling sites. As Zcash is an open-source network, its code can be used for fixing the gaps in the current bitcoin protocol as well.

Cons

Zcash’s hashing algorithm is different from the one used by bitcoins and many other coins like Dash, Ethereum, Dent, Augur, Cardano That is why Zcash’s blockchain is incompatible with specially designed hardware hashes. Also, on average, Zcash’s block time is 2.5 minutes per block; however, the block time of a bitcoin is up to 10 minutes.