Forex Zone - Forex Forum

Zcash coin

Discussion started on General Cryptocurrency Discussion

  • Starter
  • Posts: 4
  • Points: 0
  • Likes Received: 7
  • Reputation: +0/-0
Hey, crypto-lovers, welcome to my “What Is ZCash” guide!

So, you’ve heard about the exciting cryptocurrency, ZCash, but you’re not sure how it works or how it can be used? Well, you’ve come to the right place to learn more (luckily enough for you)!

By the way, did you know that ZCash was once called Zerocoin?

Anyway, this “What is ZCash?” guide is going to tell you everything you need to know. First, I will give you some background information about ZCash. Then I will tell you how it can be applied to the real world.

After that, I will explain ZCash’s technology in a really simple way. I will also talk about its potential to either rise or fall in value over the long-term.

#1 - June 07, 2019, 01:52:38 AM

  • Starter
  • Posts: 4
  • Points: 0
  • Likes Received: 7
  • Reputation: +0/-0
ZCash was created in October 2016 by a developer called Zooko Wilcox. Wilcox really liked what Bitcoin could do, but he didn’t like the fact that transactions were available for everybody to see.  Instead, he wanted to create a blockchain that would allow people to send and receive funds anonymously — which is exactly what ZCash can do!

To make his dream a reality, Wilcox performed a fork of the original Bitcoin code. Wilcox made some really impressive changes to the Bitcoin code to make sure that not only was it more private than Bitcoin, but also faster!

Note: When a blockchain is forked, it means that the original code is copied, but then changes are made to make it better. Famous blockchain forks include Bitcoin Cash (forked from Bitcoin) and Ethereum Classic (forked from Ethereum).

One of ZCash’s biggest fans is the famous whistleblower, Edward Snowden, who recently said it is the most interesting alternative to Bitcoin! The project also received a private investment from the cryptocurrency legend Roger Ver and ex-banker Barry Silbert.

The ZCash blockchain has its own cryptocurrency, which is also called ZCash, or “ZEC”. In total, there will be a maximum of 21 million ZEC coins, which is the same amount as Bitcoin. It is predicted to reach this amount in the year 2032.

However, the ZCash blockchain can process transactions much quicker than Bitcoin and it is also more scalable. Scalability is important as it means that a blockchain can process lots of transactions at once. I’ll talk about this in more detail later on…

The main feature that ZCash has is that it hides the identity of both the sender and receiver. In fact, it is so private that the only information you can see is the transaction date and time!

Just like Bitcoin, no single person or authority controls ZCash — it is decentralized! Instead, the blockchain is maintained by miners, who earn ZCash coins in return for their time and electric power.
#2 - June 07, 2019, 01:54:44 AM

  • Starter
  • Posts: 4
  • Points: 0
  • Likes Received: 7
  • Reputation: +0/-0
Potential of ZCash?
The cryptocurrency market is really difficult to predict, but it’s always a good idea to look at some of the reasons why a coin might grow in value and the reasons why it might not.

Firstly, ZCash has done really well to form a partnership with major financial institution JP Morgan, who are looking to install the Zero-Knowledge Proof protocol into their own blockchain project. Having a large organization such as JP Morgan show interest in ZCash gives the coin huge credibility.

However, a potential issue that might hurt ZCash in the long-term is that it could be used for criminal activity. This is because it allows people to send and receive funds anonymously, which is perfect for criminals.

The dark web is a big business, with criminals selling illegal goods online in exchange for cryptocurrencies.
#3 - June 07, 2019, 01:57:49 AM

  • Starter
  • Posts: 9
  • Points: 0
  • Likes Received: 0
  • Reputation: +0/-0
I just heard that this zcash, in my opinion is also very profitable.
#4 - July 24, 2019, 12:32:22 AM

  • Jr. Member
  • Posts: 82
  • Points: -5
  • Likes Received: 12
  • Reputation: +1/-1
zcash coin, I have never even traded on this coin, if I pay attention zcash coin has the potential for good investment
#5 - July 24, 2019, 09:30:40 AM

  • Hero Member
  • Posts: 2167
  • Points: 2732
  • Likes Received: 2
  • Reputation: +0/-11
Zcash is a privacy-focused cryptocurrency that offers users the ability to transact anonymously using its advanced zero-knowledge proof technology. Zcash allows users to choose between transparent and shielded transactions, with the latter offering increased privacy and anonymity. The coin is highly valued for its privacy features, as well as its fast transaction times and low fees. Zcash has also been gaining adoption by various companies and organizations, further bolstering its reputation and value. However, as with any cryptocurrency, Zcash is subject to market volatility and should be traded with caution.
#6 - March 04, 2023, 02:04:04 AM


0 Members and 1 Guest are viewing this topic.