ZCash: Blockchain Token – What is it?

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Estimated reading time: 1 minute, 6 seconds

While other blockchains claim anonymity in transactions, for many this isn’t technically true. Since blockchains are 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 address.

While addresses don’t directly identify their owner, some creative type may be able to connect the dots and determine who owns what address. That’s why we consider most cryptocurrencies “pseudo-anonymous.”

ZKSnarks

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, and valid, transactions are an option. Many are attracted to the level of privacy that ZCash provides.

ZCash ensures 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 in privacy.

If you want to get some resources for Zcash, visit our Zcash resource page!


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