Zcash Market Capitalization Tops $4.93 Billion (ZEC)

Zcash (ZEC) traded down 5.7% against the dollar during the 24-hour period ending at 7:00 AM E.T. on February 1st. One Zcash coin can currently be bought for $298.64 or 0.00381406 BTC on popular cryptocurrency exchanges. Zcash has a market cap of $4.93 billion and approximately $614.32 million worth of Zcash was traded on exchanges in the last day. Over the last seven days, Zcash has traded down 17% against the dollar.

Here’s how similar cryptocurrencies have performed over the last day:

• Horizen (ZEN) traded down 6.7% against the dollar and now trades at $7.24 or 0.00009245 BTC.
• Pirate Chain (ARRR) traded down 8.1% against the dollar and now trades at $0.32 or 0.00000414 BTC.
• Bitcoin Gold (BTG) traded up 66.4% against the dollar and now trades at $0.92 or 0.00001175 BTC.
• Komodo (KMD) traded up 1.9% against the dollar and now trades at $0.0259 or 0.00000033 BTC.
• ZClassic (ZCL) traded down 5.3% against the dollar and now trades at $0.25 or 0.00000321 BTC.

Zcash Profile

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 16,514,160 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 website is z.cash. Zcash’s official Twitter account is @electriccoinco and its Facebook page is accessible here.

According to CryptoCompare, “ZCash is a privacy driven cryptocurrency. It uses the Equihash as an algorithm, which is an asymmetric memory-hard Proof of Work algorithm based on the generalized birthday problem. It relies on high RAM requirements to bottleneck the generation of proofs and making ASIC development unfeasible. ZCash uses zero-knowledge Succinct Non-interactive Arguments of Knowledge (zk-SNARKs) to ensure that all information (sender, receiver, amount) is encrypted, without the possibility of double-spending. The only information that is revealed regarding transactions is the time in which they take place.Blockchain data provided by: Blockchair (Main Source), Zchain Explorer (Backup)Telegram”

Buying and Selling Zcash

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

ZEC/USD price chart by TradingView