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Zcash (ZEC)
Zcash is an open source, decentralized cryptocurrency that provides the privacy and selectivity of transactions. Payments made on the Zcash platform are published on a public but secure blockchain of details such as the sender, the recipient and the transfer amount.
How does Zcash work?
Zcash uses a new coding method called zero-lnowledge, known as zk-snark (Zero-knowledge, a non-interactive argument of knowledge), that allows Zcash to maintain a balance sheet. equal. No need to disclose the parties or money involved.
Metadata is encrypted and zk-SNARK is used to prove that no theft or fraud has occurred.
One of the most prominent features of Zcash is that it allows both public and private payments, users can choose to send Zcash private or public. Transactions made from a protected address to a transparent address will reveal the received balance but the amount of money made from a protected account to a transparent account will not be shown.
Advantage: Zcash is not set to private by default. It allows users to select a security account, thus providing a platform neutral.
In addition, the project is supported by a strong development team.
Cons: Its privacy can lead to the inefficiency of the zk-SNARK system. Most of the blockchain is transparent and users use identifiable security features to help blockchain vulnerable to attack.
Moreover, creating a knowledgeless transaction is a slow and costly process. This platform is run by a for-profit company with about 20% of the currency recorded during the first four years.