In this series, we will cover the different types of blockchain platforms and cryptocurrencies on the market right now. We’ll give you a quick description of each blockchain/token, its function, who is their competition and where you can learn more. In episode 9 of Blockchain Token, Joe goes over Zcash (ZEC).
Zcash is a blockchain with privacy. They include features for selective transparency, keeping transactions public, but information about those transactions (like the sender and recipient) private. Watch our short video to learn about Zcash, or read about the project below!
While most other blockchains claim anonymity in transactions, this isn’t technically true. Since blockchain is based off of distributed ledger technology, every transaction can be viewed, and it can be seen which funds have been sent to and from which addresses.
With a revolutionary concept known as zk-snarks, nodes on the network are able to validate a transaction without receiving or revealing any information to either party. This makes sure that completely anonymous transactions are an option. Many are attracted to the level of privacy that Zcash provides.
Privacy with a revolutionary concept known as “zero knowledge proofs,” Zcash allows two parties to complete a transaction without revealing any details that have been used to confirm identity and complete the transaction.
Zcash is both a blockchain network and token. It’s using its own network, and a main competitor is Monero.
If you want to get some resources for Zcash, visit our Zcash resource page!
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