Zcash is a cryptocurrency created for anonymous payments between users. Transactions in the system are not tracked, and personal data of participants are not visible to third parties. Currently, Zcash is considered one of the main anonymous cryptocurrencies.
The history of the emergence of Zcash
Officially, Zcash token's development began in 2014. Several researchers have launched a project called Zerocash. This study explored the concept of improving blockchain anonymity. The result of the developers ' work was the cryptocurrency Zcash.
The first works on this cryptocurrency were published in January 2016. In October, the official release of the project took place. A year later, on October 28, 2017, the developers announced that the ZEC altcoin could now be mined. The founder of the project Zuko Wilcox decided to create a coin based on the BTC code. But the source code was so heavily modified that the project became a separate token.
The start of a mining boom of zcash and bitcoin occurred in reaching its historical maximum. Therefore, the price of this cryptocurrency for the year soared literally to the skies. However, then the rate began to decline until 110-130 dollars.
Some of the features of the token them migrated from the Bitcoin blockchain, others were added by the project developers. The following features of Zcash are worth mentioning:
- The total issue of ZEC tokens is 21 million coins. Tentatively, all ZEC coins will be mined by 2032.
- There was no ICO. The developers just released the finished product. Zcash Company receives funds from the extracted tokens. This algorithm will change in October 2020: miners will receive 100% of all profits.
- ZK-SNARK proof with zero agreement is used for transaction verification. This mechanism protects the blockchain from fraud.
- The platform has a very high level of anonymity. Experts believe that rival projects are inferior to the platform in question.
In the Zcash project, it is possible to mine ZEC tokens using video cards, processors or ASIC devices. And today the most profitable way is to use specialized equipment.
Technical features of the Zcash project
It is necessary to mention not only already implemented improvements, but also future updates:
- Zero-knowledge privacy technology (zk-SNARK).
- Update Overwinter.
- Update Sapling.
- The Alchemy Project.
How to get Zcash free of charge?
Airdrops are one-time free giveaways of tokens. It is possible to get this token for free. In most cases, to get Zcash altcoin, you need to perform a few simple tasks in social networks. An example where you can get the token is Coinbase Earn. It allows users to earn Zcash while learning about it.
Now users are asking questions about whether Zcash's anonymity will be violated when contacting other platforms. Back in 2017, the developers discussed three different options for the implementation of this system. It is difficult to say which of them will be chosen.
There are various s including Xcolander and Allcoins, where you can get free Zcash tokens. It is possible to withdraw at wallet or exchange.