What is Zcash (ZEC)? Zcash (ZEC) is a cryptocurrency focused on privacy and plans to be compatible with all economic sectors. It has been in high demand by investors since its first launch. As Kriptokoin.com, we have compiled the details for you, let’s examine the subject together…
What is Zcash (ZEC)?
ZEC Coin was first released in October 2016. Before it was released, a group of scientists and a hacker group conducted joint research. This team has done significant research on data privacy. People who invest in this coin think that privacy is the most important element. In addition, with the developed software, users can have the authority to control their personal data. Zcash and Bitcoin are similar in content and structure, but ZEC has a technology called ‘Zero Knowledge Proof’ and its software has a higher level of confidentiality.
Every transaction made in BTC can be tracked by all users, but in ZEC, no one can see it except the users who make the transaction. One of the most important differences between ZEC and BTC transactions is the transaction speed. ZEC transactions are confirmed every 2.5 minutes, while BTC transactions take 10 minutes. Zcash offers its users an assurance of privacy in their transactions. Zcash provides privacy among its users with zero proof of transaction in their transactions. Users can do all their transactions in a transparent and confidential manner. There are 21 million Zcash in the world.
Zcash (ZEC) advantages and disadvantages
- Transacting users have the opportunity to create and store their own anonymous identity.
- Confidentiality is essential in ZEC and it is not possible for anyone other than the user to follow the transaction activity.
- ZEC, buy-sell orders are executed very quickly, while cross-border wallet transfers are approved in 2.5 minutes.
- In addition, ZEC Coin offers low commission fees to its users for cross-border wallet transactions.
- The only disadvantage of Zcash compared to its competitors is that it is not as attractive as other cryptocurrencies for those who want to earn passive income and get loans.
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