Zcash (ZEC) Achieves Market Capitalization of $8.23 Billion

Zcash (ZEC) traded up 0.1% against the U.S. dollar during the twenty-four hour period ending at 7:00 AM Eastern on August 12th. Zcash has a market capitalization of $8.23 billion and approximately $329.16 million worth of Zcash was traded on exchanges in the last 24 hours. One Zcash coin can currently be purchased for about $489.51 or 0.00762856 BTC on cryptocurrency exchanges. In the last week, Zcash has traded down 5.2% against the U.S. dollar.

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

• Horizen (ZEN) traded 1.1% lower against the dollar and now trades at $4.11 or 0.00006413 BTC.
• Pirate Chain (ARRR) traded 5% higher against the dollar and now trades at $0.23 or 0.00000363 BTC.
• Komodo (KMD) traded up 1,008.2% against the dollar and now trades at $0.0695 or 0.00000108 BTC.
• Bitcoin Gold (BTG) traded up 1.2% against the dollar and now trades at $0.40 or 0.00000626 BTC.
• ZClassic (ZCL) traded 4.9% lower against the dollar and now trades at $0.18 or 0.00000281 BTC.

Zcash Coin Profile

Zcash (CRYPTO:ZEC) is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. It was first traded on October 28th, 2016. Zcash’s total supply is 16,816,760 coins. Zcash’s official Twitter account is @electriccoinco and its Facebook page is accessible here. The official website for Zcash is z.cash. Zcash’s official message board is forum.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, “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”

Zcash Coin Trading

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

ZEC/USD price chart by TradingView