Zcash (ZEC)

What Is Zcash (ZEC) Cryptocurrency? Zcash (ZEC) is a digital asset, or cryptocurrency, designed to serve as a decentralized medium of exchange. Zcash was founded in 2016 as a result of a collaboration between the Zerocoin Electric Coin Company, the University of Illinois at Urbana-Champaign, and the Massachusetts Institute of Technology. The goal of the project was to create a form of digital money which offers better privacy features than most existing cryptocurrencies. Who Founded It? Zcash was created by Arthur Breitman and his wife, Zooko Wilcox, through their company, the Zerocoin Electric Coin Company. Breitman is a French programmer who formerly worked at Thomson Reuters, a financial services company. What Makes It Unique? The most unique aspect of Zcash is its privacy-focused protocol, Zero Knowledge Proof. This technology enables transactions to be verified without providing any personal information about the sender or receiver. Zero Knowledge Proof also allows for user-controlled “shielded transactions”, which offer even more privacy than regular Zcash transactions. Where Is It Used? Zcash is used primarily as a digital form of payment, but it can also be used for privacy-minded users to store their wealth. Additionally, the Zerocoin Electric Coin Company has a number of partnerships, such as with the United States Department of Defense, which is developing applications of the technology for secure communications. Where To Buy/Sell It? Zcash is available to purchase/sell on numerous cryptocurrency exchanges, including Binance, Gemini, and Kraken. It can be bought with both fiat currencies, such as US dollars, as well as cryptocurrency coins, such as Bitcoin and Ethereum. Comments Zcash has some really cool features that make it stand out. Its use of Zero Knowledge Proof definitely makes it a good choice for those looking for enhanced privacy when making transactions. The fact that it has support from the U.S. Department of Defense for secure communication applications is also highly reassuring.