Zcash Price Tops $292.88 on Top Exchanges (ZEC)

Zcash (CURRENCY:ZEC) traded 13.8% higher against the US dollar during the 1-day period ending at 20:00 PM ET on November 25th. One Zcash coin can currently be purchased for about $292.88 or 0.00496922 BTC on exchanges. Zcash has a total market cap of $3.86 billion and approximately $1.44 billion worth of Zcash was traded on exchanges in the last 24 hours. In the last week, Zcash has traded 93.6% higher against the US dollar.

Here’s how other cryptocurrencies have performed in the last 24 hours:

  • Horizen (ZEN) traded up 11.2% against the dollar and now trades at $132.37 or 0.00224591 BTC.
  • Bitcoin Gold (BTG) traded up 1.2% against the dollar and now trades at $58.58 or 0.00099387 BTC.
  • Pirate Chain (ARRR) traded 2.2% higher against the dollar and now trades at $1.87 or 0.00003167 BTC.
  • Alchemy Pay (ACH) traded 3.8% higher against the dollar and now trades at $0.0890 or 0.00000151 BTC.
  • Bitcoin Private (BTCP) traded up 4.9% against the dollar and now trades at $2.58 or 0.00004383 BTC.
  • BitcoinZ (BTCZ) traded 3% higher against the dollar and now trades at $0.0005 or 0.00000001 BTC.
  • ZClassic (ZCL) traded up 10.8% against the dollar and now trades at $0.19 or 0.00000326 BTC.
  • Zero (ZER) traded 1.6% higher against the dollar and now trades at $0.16 or 0.00000271 BTC.
  • Hush (HUSH) traded 19.7% higher against the dollar and now trades at $0.0936 or 0.00000159 BTC.
  • Bitcoin Interest (BCI) traded up 1.6% against the dollar and now trades at $0.0065 or 0.00000011 BTC.

Zcash Profile

Zcash (ZEC) is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. It launched on October 28th, 2016. Zcash’s total supply is 13,166,844 coins. Zcash’s official message board is forum.z.cash. Zcash’s official Twitter account is @zcashco and its Facebook page is accessible here. The official website for Zcash is z.cash. The Reddit community for Zcash is https://reddit.com/r/zec and the currency’s Github account can be viewed here.

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 possible to buy alternative cryptocurrencies such as Zcash directly using US dollars. Investors seeking to trade Zcash should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as GDAX, Coinbase 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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