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Review on Zcash by Moshe Bal
Zcash Complete review
Zcash is maybe the most popular blockchain network and coin that focuses mainly on the privacy and security aspects.
Being built on the original Bitcoin base structure, this cryptocurrency handles one of the main issues with cryptos in general and offers its users the ability to keep their anonymity while selectively complying to auditing and regulations.
Zcash was known under the project name Zerocoin. Matthew Green, Ian Miers along with many more who were at the Computer Science department of Johns Hopkins Univercity, are the team behind the Zero protocol and later on Zerocash protocol, which was an updated version allowing users to trade anonymously.
Zooko Wilcox is the founder of the Zcash network and coin, but it isn’t known when he started collaborating with the team behind the protocol.
Zcash is a peer-to-peer decentralized network that focuses on security and privacy of their transactions. Their current consensus protocol is Proof of Work and the hashing function is Equihash.
This makes the network quite resistant to ASIC miners, but with time the ASIC developers found a way to create a superior machine. The current block reward is 12.5ZEC and every 4 years, or 840,000 blocks, the reward will be halved.
Pros
- Zcash brings to the table is anonymity. This is achieved thanks to the Zero-Disclosure protocol that does not need to decrypt information in order to confirm a transaction
- Frequent updates and dedicated development team and Superior encryption second only to DASH
Cons
- The main con of zcash is that due to its privacy aspects, not many wallets can support it. Thus, currently there are no mobile wallets that can offer privacy cryptocurrency support.
- Zcash needs more security updates, this is due to most of the transactions being done transarrently as the privacy aspect is not by default, it is chosen
