Review on Zcash by Fabrizio Zampieri
The platform was launched in October 2016 by the CEO Zooko Wilcox-O’Heam – a…
The platform was launched in October 2016 by the CEO Zooko Wilcox-O’Heam – a computer security specialist. The platform’s mission is to “create an open, global economic platform from which no-one can be excluded”.
Zcash or ZEC works with an advanced algorithm. This one is making your trades being anonymous to everyone. The realization of this innovation was possible due to the special proof of construction called zk-snark. The zk-snark cryptographic technology is checking the validity of information without publishing any confidential details.
Because of marketplace’s totally unsecured system, the private key of each user isn’t actually too private. The user’s addresses can be viewed by other partners or marketers. Fortunately, Zcash encrypted all the transactions details. It is an innovative cryptography that changed the way a blockchain is seen.
The platform doesn’t limit users about using their own wallet. You can choose to keep your money also in one of existing wallets like: Jaxx, Freewallet, Cryptonator, Coinomi and others. Zcash’s own wallets that provides the private addresses necessary before operating with any transactions are: zcash4win (for Windows), zcash (for Linux) and zcash4mac (for Mac).
Pros
- - The Zcash has designed a new technique that guarantees users anonymity. Team projected a proof of construction algorithm, called zk-snark which assure your transactions with highest security. - The enterprise was funded by private investors, this means that we can exclude the situation where the blockchain is manipulated. - Nobody can take the custody on your own tokens. - High security is the main principle of the platform. - The platform isn’t built on Bitcoin blockchain, so you do not need to worry about hackers attacks realized on the highest cryptocurrency in the world -Bitcoin-. - ZEC is tradable on the most important exchanges in the world as Bitfinex, Bithumb, Bittrex, Poloniex, Binance and others.
Cons
- - The total amount of Zcash that can circulate at the global range is 21 million coins (little amount). - Many of transactions need a large amount of computer memory. - Zcash’s privacy is stronger when you operate transactions between Zcash cryptocurrencies. - Zcash provides multi-signature transactions, but these aren’t more secure than Bitcoin’s technique.
