Zcash Course - ZEC

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What is ZCASH?

EOS offers a set of tools and services similar to the operating system for creating, hosting, and running commercial dapps applications. Its software includes everything from user and account authentication to cloud storage and server hosting, to provide a complete solution for dapp developers. EOS is designed not only to provide quick and easy deployment of dapps but also to scale up to millions of transactions per second and eliminate user charges.

Cryptocurrency Zcash (ZEC) is an innovative decentralized, the first, among other digital money, currency with a unique open-source code, which allows for absolute closed operations. Zcash was created to solve one of the urgent problems of Bitcoin - the ability to track the movement of money.

All transactions are entirely closed: the blockchain uses an open platform for transfers, but the names of the recipients, senders, and the amount of money are kept secret. The principle of operation is based on the use of a cryptographic method of evidence with zero disclosure or zk-SNARK. It is he who makes it possible to confirm the integrity and infallibility of financial transactions without disclosing data on participants and transaction value.

SymbolZEC
Initial release date28 October 2016
Algorithm typezk-SNARKs
Max. supply21 million ZEC

Although cryptocurrencies are often called "anonymous," in many cases, user identification can be tracked by tracking transaction history on the blockchain. Zcash was born as part of a project called ZeroCoin, aimed initially at improving anonymity for bitcoin users. Using a specialized form of cryptography with zero knowledge, Zcash allows you to verify fully encrypted transactions using a consistent network protocol.

Thanks to the use of the zero-knowledge protocol, Zcash cryptocurrency transactions are stored on an utterly encrypted blockchain. Secret contracts allow the use of open blockchains while maintaining complete anonymity. The new coin is becoming more popular among users. Some experts believe that soon, it will be able to compete with the Monero cryptocurrency, also intended for closed currency transfers, as well as with DASH, and even with Bitcoin. The new project attracted the attention of many companies, in particular, the Digital Currency Group. And the authors continue to work to improve the reliability and stability of their coins.

How is Zcash different from bitcoins?

Zcash and Bitcoin share many common characteristics. The number of coins in both currencies is fixed, halving every 4 years. The same maximum number of issued coins is 21,000,000 ZEC and BTC. New crypto, like Bitcoin, is created through mining. A separate block of ztc cryptocurrency is mainly formed with a frequency of 150 seconds; during this period, 12.5 new tokens are generated. 50 new banknotes appear in 10 minutes - at the beginning of its existence, bitcoin was created in the same way. As in the case of Bitcoin, after 4 years, the total income for generating the block will be half as much.

But there are differences. The main thing was already mentioned at the beginning of the article - the absolute closeness of transaction information. This is what new money was created for. Hash algorithms also differ, so the equipment for mining ZEC and bitcoins is incompatible. Zcash also uses its blockchain network and a rewarding method.

According to the founders of the company, miners will receive 80% of the planned income, and the creators and investors of the network - 20%. Such a separation of profits will occur until October 2020. During this time, it is planned to extract 10.5 million coins. The second half will belong only to the miners.

Where can I use ZEC to pay?

Like Bitcoin, ZEC can be used as payment wherever suppliers are willing to accept it. It is important to know that the multi-currency Jaxx wallet, available for both iOS and Android, has built-in ZEC support. Services designed to provide users with advanced credentials, such as specific VPNs, were among the first to offer Zcash payment options.

How to earn Zcash

The main way to earn Zcash is mining. There are two varieties of it, but you need a video card, software, an electronic wallet, and a connection to the pool.

Using miner programs - Claymore’s Miner, EWBF Miner, - specially developed for Nvidia cud-kernels and providing the highest possible performance. In just 20 minutes, the miner is downloaded, installed, and configured. But powerful equipment is needed: Windows 64 bit or higher or Linux, CPU i core-7 or 6-8 core amd, top-end graphics cards with 2Gb memory.

Cloud mining. Its essence is the conclusion of an annual contract, the cost of which depends on the capacity of the equipment used for production. The Internet network offers a large number of quite useful contracts. Sometimes you can find a proposal for substantial discounts and even free mining at the initial stage of work.

When deciding to earn Zcash, you should first calculate the relevance of mining. Go to whattomine.com, select the model of your computer’s video card, and the page will display information about hashing and profitability. Selecting various video cards with the help of a calculator, determine which modification provides the most favorable combination of price, performance, electricity consumption.

Course forecasts

From the first day of its appearance on the market, ZCash took place in the top five of the most popular cryptocurrencies themselves, but it did not last long. The ZCash rate is rather unstable, although the desire for growth is quite noticeable. In February 2017, the price of 1 ZEC fell to $29, and in June rose to $410. In November, zcash was trading at the level of 300-360 dollars.

ZEC's market capitalization in October was about $ 600 million, and daily trading volume was $ 7,000,000. According to experts, this indicates the optimistic prospects of Zcash. Ex-ZEC lawyer Ted Moskowitz is confident that despite spikes in volatility, ZEC remains among the most popular digital money with huge growth potential. Judging by the forecasts made by various experts, the Zcash rate will grow soon.

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