Review on Zcash by Othere Obtentus
Enhanced privacy and security
Zcash is a cryptocurrency with a heavy focus on privacy and security of identity. Zcash retains the functionality of the shared blockchain while making fully anonymous transactions.
Zcash uses Bitcoin's own algorithm, and although it is a different cryptocurrency with its own blockchain, the framework is designed on top of the core technology of Bitcoin. Revisions to the underlying system that are unique to Zcash include improving the proof-of-work consensus model and adding zero-knowledge documentation to protect consumer safety.
Zero-knowledge proofs allows parties involved to check and confirm each other's details without knowing what that details is. So, since the Zcash blockchain is a decentralized ledger, with zk-SNARKs, a transaction can be checked and reported publicly without sharing its details.
Pros
- It is decentralised
- Privacy options to protect the identity
- It is fungible
- Forked from Bitcoin so shares the same tried and tested network security
- Its team is highly respected
Cons
- As it is similar to Bitcoin, it may run into similar problems with scaling if it receives as much traffic
