Zcash Achieves Market Capitalization of $2.60 Billion (ZEC)

Zcash (CURRENCY:ZEC) traded 3.2% lower against the US dollar during the 1-day period ending at 23:00 PM E.T. on April 12th. Zcash has a total market cap of $2.60 billion and approximately $982.64 million worth of Zcash was traded on exchanges in the last day. During the last seven days, Zcash has traded 16% higher against the US dollar. One Zcash coin can now be bought for about $224.95 or 0.00370284 BTC on major cryptocurrency exchanges.

Here is how other cryptocurrencies have performed during the last day:

  • Bitcoin Gold (BTG) traded 8.7% lower against the dollar and now trades at $110.37 or 0.00181686 BTC.
  • Horizen (ZEN) traded 3.8% higher against the dollar and now trades at $79.34 or 0.00130606 BTC.
  • Pirate Chain (ARRR) traded 53% higher against the dollar and now trades at $2.15 or 0.00003531 BTC.
  • Alchemy Pay (ACH) traded 6.1% lower against the dollar and now trades at $0.0130 or 0.00000021 BTC.
  • Bitcoin Private (BTCP) traded 9.3% lower against the dollar and now trades at $1.01 or 0.00001659 BTC.
  • BitcoinZ (BTCZ) traded 14.2% higher against the dollar and now trades at $0.0004 or 0.00000001 BTC.
  • ZClassic (ZCL) traded 11.3% higher against the dollar and now trades at $0.31 or 0.00000512 BTC.
  • Zero (ZER) traded 1.9% lower against the dollar and now trades at $0.21 or 0.00000346 BTC.
  • Hush (HUSH) traded 0.9% higher against the dollar and now trades at $0.0303 or 0.00000050 BTC.
  • Bitcoin Interest (BCI) traded 15.6% lower against the dollar and now trades at $0.0061 or 0.00000010 BTC.

About Zcash

ZEC is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. Its genesis date was October 28th, 2016. Zcash’s total supply is 11,542,388 coins. The Reddit community for Zcash is https://reddit.com/r/zec and the currency’s Github account can be viewed here. The official message board for Zcash is forum.z.cash. Zcash’s official Twitter account is @zcashco and its Facebook page is accessible here. Zcash’s official website is z.cash.

According to CryptoCompare, “zk-SNARKsThe BasicZcash is the first widespread application of zk-SNARKs, a novel form of zero-knowledge cryptography. The strong privacy guarantee of Zcash is derived from the fact that shielded transactions in Zcash can be fully encrypted on the blockchain, yet still be verified as valid under the network’s consensus rules by using zk-SNARK proofs. The acronym zk-SNARK stands for “Zero-Knowledge Succinct Non-Interactive Argument of Knowledge,” and refers to a proof construction where one can prove possession of certain information, e.g. a secret key, without revealing that information, and without any interaction between the prover and verifier. “Zero-knowledge” proofs allow one party (the prover) to prove to another (the verifier) that a statement is true, without revealing any information beyond the validity of the statement itself. For example, given the hash of a random number, the prover could convince the verifier that there indeed exists a number with this hash value, without revealing what it is.   Application to ZCASHIn order to have zero-knowledge privacy in Zcash, the function determining the validity of a transaction according to the network’s consensus rules must return the answer of whether the transaction is valid or not, without revealing any of the information it performed the calculations on. This is done by encoding some of the network's consensus rules in zk-SNARKs. At a high level, zk-SNARKs work by first turning what you want to prove into an equivalent form about knowing a solution to some algebraic equations. In the following section, we give a brief overview of how the rules for determining a valid transaction get transformed into equations that can then be evaluated on a candidate solution without revealing any sensitive information to the parties verifying the equations. “

Buying and Selling Zcash

It is usually not currently possible to buy alternative cryptocurrencies such as Zcash directly using US dollars. Investors seeking to acquire Zcash should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, GDAX or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Zcash using one of the exchanges listed above.

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