Review on Zcash by The hsotaka
Review of the ZCASH Coin
Today i want tell you something about the ZCASH coin and the technology which powers this coin.
General informations:
ZCASH is one of the older cryptocurrency. It is born on October 28, 2016
.
It is a fork of the bitcoin code base which is still one of the best code base out there.
The algorithm of this coin is Equihash.
The transaction size has to be divided in shielded and unshielded transactions: unshielded, 500 bytes; shielded, 2,000 bytes
shielded means your transactions are protected by the ZK-SNARK technology and your are completely anonymous. Unshielded means you are executing a default transaction without protection or anonymity. Its like a normal bitcoin transaction then.
Like Bitcoin, ZCASH can be mined with GPU or CPU computing power, because it uses proof of work
.
Like Bitcoin, the size of one block is 2MB
and the block time is 1.25 min
Currently 6.25
ZEC will be mined per block.
The default fee for transaction on the ZCASH blockchain is 0.0001 ZEC, so still very cheap.
If you want to explore the blockchain of ZCASH you can use a block explorer.
Latest release of the zcash dev team was calles "Blossom
" and integrated a few improvements like shorter blocktimes on the ZCASH chain.
My Opinion:
If you are searching for an anonymous coin, you probably won't find a better coin. The ZK-SNARK technology is game changing, other companies or blockchain developers already were interested in this great technology, so the ZK-SNARK dev team already partnered with other devs to implement advantages of this technology into other projects and code bases (Like Ethereum). I can highly recommend the technology of this coin!
Pros
- Based on the bitcoin blockchain technology.
- User can decide if he wants to use the anonymous transaction functionality
- Uses one of the best cryptographical technology (ZK-SNARK).
- Great team behind this project.
Cons
- Lack of new development.
- Number of current usecases are relatively low.
New products
Comments (2)
June 25, 2020
I agree with this comment. Zcash's interface is very simple and easy to use, but this is a fact that encourages them to keep always improving, although it still needs to update more. However, the blockchain operates under a public server, just like Bitcoin, although it reflects on privacy and anonymity.
January 21, 2020
I would say they are constantly trying to develop. The company behind the development and issuance, ECC has introduced a new set of Software Development that will now make anonymous transactions possible for users on both iOS and Android smartphones.
