Review on Zcash by Filip Radevic

Name: Zcash
Item: Zcash
Rating: 5

August 28, 2018

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.
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Pros

In contrast to Bitcoin, transactions via zcash are anonymous if you wish. The fees are minimal and after the new update, the transaction speed should be reduced to a few minutes. I see zcash as a good alternative to bitcoin and in the future maybe to fiat currencies.

Cons

The aggregate sum of Zcash that can circle at the worldwide range is 21 million coins (little sum). - Huge numbers of exchanges require a lot of PC memory. - Zcash's security is more grounded when you work exchanges between Zcash cryptographic forms of money. - Zcash gives multi-signature exchanges