1 Level
11 Review
1 Karma
Review on Zcash by TAN PHAM
Zcash is created by a corporation and when it was founded the creators…
Zcash is created by a corporation and when it was founded the creators allocated 10% of the mining rewards to be distributed to the stakeholders in the Zcash Company — founders, investors, employees, and advisors. The so called “Founders’ Reward” is 10% of the eventual monetary base and will be distributed to the creators during the first four years of the project. After that all of the mining rewards will go to the miners.
Pros
- ZEC has always been a niche coin, and somehow missed a more dramatic appreciation. The digital asset has received both accolades and criticisms, the latter coming from the Monero community. Due to its low supply, ZEC has always commanded a relatively high price, but now the asset continues to slide below $300. In the past week, ZEC sank more than 16% to $259.43.
Cons
- Zcash is built upon and extends the Bitcoin protocol and that’s why it uses Proof-of-work (PoW) as a consensus mechanism. However, its core difference with BTC is the technology that Zcash is using to hide users’ identities and balances. This is the zero-knowledge proof construction called zk-SNARK. A zero-knowledge proof is a cryptographic method by which one party can prove to another that she knows a value X without revealing any information apart from the fact that she knows the value X. I know it sounds tricky, but I will try to illustrate it simpler.
