About Zcash (ZEC)
Zcash (ZEC) is a privacy-focused blockchain network and cryptocurrency that allows users to engage in anonymous cryptocurrency transactions. The network was launched in 2016 as a fork of Bitcoin designed to offer enhanced security and privacy.
Zcash originally launched as Zerocoin before rebranding to Zcoin and later to Zcash. In 2019, the Zcash Company announced a corporate rebranding as the Electronic Coin Company (ECC).
The primary purpose of Zcash at launch was as a solution to several security issues identified by cryptocurrency and blockchain developers who wanted to facilitate completely anonymized crypto transactions.
Zcash leverages the Zero-Knowledge Succinct Non-interactive Argument of Knowledge (zk-SNARK) security protocol to provide anonymized transactions, which encrypt sender, receiver, and transaction information. The zk-SNARK protocol is said to enable nodes to prove they are in possession of certain knowledge without revealing the information itself.
Zcash users are able to choose from two types of addresses â transparent addresses, which are transparent and public on the Zcash blockchain, and shielded addresses, which obfuscate user and transaction data. ZEC price is updated and available in real time on Binance.