Review on Zcash by Syed Adnan
Zcash is the first open, permissionless financial system employing zero…
Zcash is the first open, permissionless financial system employing zero-knowledge security. Zcash offers total payment confidentiality, while still maintaining a decentralized network using a public blockchain. Unlike Bitcoin, Zcash transactions can be shielded to hide the sender, recipient, and value of all transactions on the blockchain. Only those with the correct view key can see the contents. Users have complete control and can opt-in to provide others with their view key at their discretion. Zcash transactions do not depend on the cooperation of other parties.
Updated 5 years ago
Rating has not been changed
Zcash has the opportunity to disrupt several markets as a payment solution. It is likely to make a kind of payment in the retail industry. In the US alone, retail sales reached $ 5.7 trillion in 2017, and global retail sales are expected to increase to $ 27 trillion by 2020 this This represents ample opportunity for increased adoption in this market.
The payment market is one of the promising areas for the blockchain industry. Cryptocurrencies have the opportunity to remove multiple "middleman fees" and make transactions cheaper. Therefore, there are multiple currencies that try to compete and have become a means of payment for crypto recipients.
Pros
- Zcash has robust open-source, decentralized features that give its owners the best in terms of privacy and security—these innovatory features have made transactions involving this altcoin fast, quick, and, most importantly, secure. A leading technologist, Mason Borda, once tweeted, “Zcash is the only altcoin (that i know of) designed and built by professional and academic cryptographers. Hard to ignore.”
Cons
- Zcash miners are concerned about the power invested in mining this digital currency. Which is why, this crypto aims to develop a mining process that is friendly for every involved CPU and GPU. Mining Zcash has to be memory intensive that prevents the process from getting dominated by application specific integrated circuits that are popularly known as ASICs.
