Review on Zcash by Stephen Toluwani
Privacy at it's peak on Zcash and many new innovations are still being added
With decentralization and privacy in the minds of Bitcoin creator, Satoshi Nakamoto, Zcash takes the vision to the forefront direction of providing this in a more enabling ground by implementing privacy at it's core. Using Zcash cryptocurrency ZEC on my wallet, I could chose to create my wallet as either a shielded one or unshielded and are labeled z or t. Going with the z wallet, I was able to send transactions to both z and t enabling wallet in which my address and sent value were undisclosed to the blockchain. In sending to a z address, both my address and that of the other wallet were undisclosed but in sending to a transparent wallet t, my details were undisclosed while the t address was all open to the blockchain. It's core value of privacy keeps receiving more accolades as more improvements and new innovations are being added to its open source code.
Zcash also supports a selective disclosure feature in which as a user, I could chose to disclose or reveal some of parts of my transactions in case of audit needs. This is another point worth of mention as this shows the level of innovative ideas in the space for privacy and still revel compliance to the government regulations. Zcash is really undervalued in it's price but what it offers is quite the banger for how it treats privacy. With low transaction costs and a better speed while compared to many older cryptocurrencies, Zcash is the sure project for any privacy centered crypto enthusiast
Pros
- Zcash provides a truly secured and shielded transaction modal and truly promotes the idea of privacy being a privacy focused coin
- The coin ZEC is mineable using a Proof of Work model
- Zcash is built using the Bitcoin code, sharing the same maximum supply but improves in the area of privacy
- Zcash supports a selective disclosure feature that allows users to share some transaction details in cases where the needs for audit may rise
Cons
- There is no con to the project but privacy is a disadvantage as terrorist organization can make use of its privacy feature to finance war crimes
