What Is Zcash Coin?
Zcash is a decentralized cryptocurrency. It works with blockchain technology, just like Bitcoin. The major idea of the project is complete anonymity that was achieved by using a unique open-source blockchain code. Zcash became the first decentralized cryptocurrency with this feature. All transactions that take place with its coins are conducted without specifying the names of both parties, and the amount of transferred funds is impossible to know.
Zcash appeared on the digital asset market on October 28, 2016. However, the history of this project starts several years before the initial launch of the cryptocurrency. In 2013, the Zerocoin Electric Coin Company cryptographers developed the Zerocoin protocol, which corrects the weaknesses of Bitcoin technology transactions, namely the ability to identify both users.
But it didn't work out with the developers of the first digital currency, and Zerocoin continued its way independently of bitcoin. Moneta, a cryptocurrency based on this protocol, appeared, then a more thought-through version of Zerocoin was developed and named Zerocash.
Pros And Cons
To know what is Zcash coin, you should know its main pros and cons. The major advantages are:
- The system provides a maximum level of data security and anonymity.
- It works without specifically tying its coins to the entire history of the network.
- Reputable experts and financial institutions like JPMorgan give their preference to this network.
Yet, under pressure from government authorities, some cryptocurrency exchanges refuse to use ZEC crypto and similar systems. But along with this, restrictions and stricter digital money regulations will allow anonymous cryptocurrencies to grow in value and become more popular.
How To Mine Zcash?
Zcash mining has some similarities to Bitcoin. The issue is the same - 21 million coins, and miners get rewarded for each block created. However, if in the Bitcoin network a block is created in 10 minutes, in the Zcash network, it's 2.5 minutes. The reward per block is 12.5 ZEC, of which 10 ZEC goes to the miners and 2.5 ZEC to the Zcash team.
Zcash mining is one of the easiest and demanded by many miners. This cryptocurrency can be mined on a simple Radeon RX 560 video card, as well as on the top Geforce GTX 1080. Anyone can start mining Zcash on CPUs. You can use either the budget Intel Pentium G4560 or the productive AMD Ryzen Threadripper 1950X.
How To Make A Zcash Wallet?
You can store this cryptocurrency in a wallet provided by the Zcash developers. Its official versions are available only for Linux, while programs for other operating systems are released by the community that supports this asset.
Most of the well-known cold and hot wallets also support Zcash (ZEC). For example, you can keep tokens on Jaxx, Coinomi, Ledger, etc.
Zcash Price Prediction
A lot of time has passed since the cryptocurrency's release, it has managed to both increase in price and fall. One of the major reasons for the decline is stagnation in the financial market, inflation, and strict regulation of anonymous cryptocurrencies.
Experts understand that and give a positive Zcash price prediction. For example, WalletInvestor's forecast is over $248.935 in one year. The DigitalCoinPrice team has a similar forecast, they say that Zcash currency price could rise to $250.11 in a year.
By the way, today Zcash price is 151.4664 USD.
Should I Invest In Zcash?
After all, Zcash price prediction looks positive. This token exceeds many cryptocurrencies in privacy and mining speed. These factors make it quite usable and contribute to the rise in the price of the ZEC coin.
Where To Buy Zcash ZEC?
Many exchanges have already added ZEC coin to their sales list due to its popularity, and StealthEX is one of the places where you can buy Zcash.
The process is secure and doesn't take much time, just go to StealthEX and follow these easy steps:
- Choose the pair and the amount for your exchange. For example, BTC to ZEC.
- Provide the recipient address to which the coins will be transferred.
- Move your cryptocurrency for the exchange.
- Receive your coins.
And one more thing, StealthEX allows you not only to get coins fast but also to choose a floating or a fixed rate.
The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision.