[Crypto projects](https://revain.org/projects/) › Zcash

# Zcash (ZEC): how it works, supply and reviews

Privacy coin

## Key facts

- **Ticker**: ZEC
- **Category**: Privacy coin
- **Network**: own blockchain
- **Launched**: 2016-10
- **Mining algorithm**: Equihash
- **Official site**: [z.cash](https://z.cash/)
- **Whitepaper**: [zips.z.cash/protocol/protocol.pdf](https://zips.z.cash/protocol/protocol.pdf)
- **Source code**: [github.com/zcash/zcash](https://github.com/zcash/zcash)

Data: CoinGecko, 2026-10-27. Only projects that still trade with meaningful volume are listed.

## What is Zcash

Zcash (ZEC) is a cryptocurrency built from the original Bitcoin code base that adds zero-knowledge proofs so transaction details can be encrypted. Users can hold and send ZEC in shielded (private) or transparent (public) form.

## Network and consensus

| Parameter | Details |
|---|---|
| Type | Layer-1 privacy cryptocurrency based on the Zerocash scheme, combining Bitcoin-style transparent payments with shielded payments |
| Consensus | Proof of work using the memory-hard Equihash algorithm |
| Privacy technology | zk-SNARK zero-knowledge proofs; addresses can be shielded (private) or transparent (public) |
| Launched | 2016 |
| Block time | 75 seconds target spacing (150 seconds before the Blossom upgrade) |
| Node software | Zebra; the older zcashd client reached end of support on 18 July 2026 |

## Supply and issuance

| Parameter | Details |
|---|---|
| Maximum supply | 21,000,000 ZEC |
| Issuance | New ZEC is issued as a block reward (1.5625 ZEC per block at the time of writing) to miners and development funding streams |
| Halving | The block reward halves about every four years |
| Development fund | Since November 2024: 80% of the block reward to miners, 8% to Zcash Community Grants, 12% to a protocol-tracked lockbox |

## What ZEC is used for

- Means of payment and store of value, sent either privately (shielded) or publicly (transparent)
- Block rewards and fees paid to proof-of-work miners who secure the network
- Part of each block reward funds ecosystem grants and development

## Who develops and governs Zcash

- **Original developer**: Zerocoin Electric Coin Company (the Zcash Company, later Electric Coin Co.)
- **Foundation**: Zcash Foundation, a US 501(c)(3) public charity; it develops the Zebra node
- **Trademark**: Held by the Zcash Foundation since November 2019; consensus changes need agreement under the trademark agreement
- **Governance**: Zcash Improvement Proposals (ZIPs): anyone can submit a draft; ZIP editors accept or reject; upgrades take effect when the network adopts them
- **Open source**: Yes; derived from Bitcoin’s open-source code

## History

| Date | Event |
|---|---|
| 2016 | Zcash mainnet launched; the genesis block was released and mining began |
| 28 October 2018 | Sapling network upgrade activated, also fixing a counterfeiting vulnerability found in March 2018 |
| November 2019 | Electric Coin Co. donated the Zcash trademark to the Zcash Foundation |
| 31 May 2022 | Network Upgrade 5 (NU5) activated, introducing the Orchard shielded protocol on the Halo proving system without a trusted setup |
| November 2024 | Second halving and Network Upgrade 6 (NU6), replacing direct developer funding with a lockbox and community grants |
| 18 July 2026 | The legacy zcashd node reached end of support, leaving a Zebra-only network ahead of the NU6.3 upgrade |

## Security and audits

- A counterfeiting vulnerability discovered in March 2018 was fixed by the Sapling upgrade; according to the developer it did not affect privacy and no counterfeiting was detected
- Since NU5 (2022) the Orchard protocol uses the Halo proving system, removing reliance on trusted setup ceremonies

## Risks and caveats

- Privacy is optional: funds held in transparent addresses are as visible as on Bitcoin
- The issuance schedule may change: a proposal (ZIP 234) would replace discrete halvings with smoothed issuance
- Funds in the development lockbox depend on a disbursement mechanism decided by the community

## Official links

- Website: [z.cash](https://z.cash/)
- Docs: [zips.z.cash](https://zips.z.cash/)
- Whitepaper: [zips.z.cash/protocol/protocol.pdf](https://zips.z.cash/protocol/protocol.pdf)
- Source code: [github.com/zcash](https://github.com/zcash)
- Foundation: [zfnd.org](https://zfnd.org/)
- Governance forum: [forum.zcashcommunity.com](https://forum.zcashcommunity.com/)

## Questions and answers

**What is Zcash?**

Zcash (ZEC) is a cryptocurrency derived from Bitcoin’s code that uses zero-knowledge proofs so users can keep transaction details private.

**Who created Zcash?**

Zcash was developed by the Zerocoin Electric Coin Company (later Electric Coin Co.) and launched in 2016; the Zcash Foundation holds the trademark and develops the Zebra node.

**What is the maximum supply of Zcash?**

21 million ZEC, issued as block rewards that halve about every four years.

**How does Zcash work?**

Miners secure the chain with Equihash proof of work and produce a block about every 75 seconds; shielded transactions are verified with zk-SNARK proofs.

**Are all Zcash transactions private?**

No. Users choose between shielded addresses, which keep information private, and transparent addresses, which make it public.

## Sources

- [CoinGecko — Zcash](https://www.coingecko.com/en/coins/zcash)
- [Zcash — What is Zcash?](https://z.cash/learn/what-is-zcash/)
- [Zcash — What are the economics of Zcash?](https://z.cash/learn/what-are-the-economics-of-zcash/)
- [Zcash — Network information](https://z.cash/network/)
- [Zcash Protocol Specification](https://zips.z.cash/protocol/protocol.pdf)
- [ZIP 1015 — Block Subsidy Allocation for Non-Direct Development Funding](https://zips.z.cash/zip-1015)
- [Zcash — zcashd deprecation](https://z.cash/support/zcashd-deprecation/)
- [Electric Coin Co. — Zcash Counterfeiting Vulnerability Successfully Remediated (archived)](https://web.archive.org/web/2024/https://electriccoin.co/blog/zcash-counterfeiting-vulnerability-successfully-remediated/)
- [Electric Coin Co. — NU5 activates on mainnet (archived)](https://web.archive.org/web/2024/https://electriccoin.co/blog/nu5-activates-on-mainnet-eliminating-trusted-setup-and-launching-a-new-era-for-zcash/)

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Page updated: 2026-10-29

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Source: https://revain.org/projects/zcash/