zcash (zec): A new chapter in privacy

How are you all? The more I delve into the world of cryptocurrency, the more some names really seem different. ZCash (ZEC) is a name that is not just a digital coin, but a kind of concept where people can keep complete control over their transactions.

Official website

When I first heard about Zcash, I thought it might be similar to Bitcoin. But then I realized that its purpose is much deeper. While all transactions are visible in Bitcoin, Zcash is designed in such a way that the identity of the user is hidden. That is, no one will know who you sent to or how much you sent, but the transaction will still be proven.

You will be surprised if you know a little; behind it is a special technology called zk-SNARKs, which is honestly amazing to me. It is a process where you can convince someone that you know something, without revealing the information. This combination of privacy and trust sets Zcash apart.

Do you know ZCash was built in 2016 by the Electric Coin Company (ECC), led by Zooko Wilcox-O'Hearn. Researchers from MIT and Johns Hopkins also worked behind it. Then I realized that this is not just a coin, but an idea - where privacy is seen as a fundamental human right.

The most attractive aspect of Zcash is its freedom. You can make transactions publicly if you want, or keep them completely private if you want. Recently, ECC launched a new wallet, Zashi, where transactions are “shielded” by default, meaning they are completed confidentially.

This coin still runs on the “Proof-of-Work” method, so that ordinary users can also participate in mining. 80 percent of the reward goes to the miners, and the rest is spent on developing the project.

Many say that such secret transactions can be a haven for crime. But I think privacy is not a crime; it is a human right. Zcash teaches me that technology can be created not only for profit, but also for freedom. How did you like today’s news? Be sure to let me know in your comments.