Zcash (ZEC) is a privacy-focused cryptocurrency developed through the rigorous efforts of computer scientists from some of the most prestigious academic institutions. While initially forked from the Bitcoin code in 2016, the primary purpose of Zcash is to enable private transactions between parties and ongoing development has been ongoing throughout its lifespan.
Secure and private transactions are achieved through the use of zk-SNARK technology (aka “zero-knowledge proofs”). Essentially, this technology is implemented as an advance beyond the core functions of immutability and security associated with decentralized cryptocurrencies. Users have a choice in how much information they share, and are able to provide view keys for transactions and accounts. Such features allow users flexibility, utility and autonomy.
User and business adoption are also an area of sharp focus for the Zcash project and an abundant effort has been made to connect to mainstream media coverage as well as cooperatives with major financial institutions. One such effort was an episode of the Radiolab podcast documenting “the ceremony” an elaborate security effort to ensure that Zcash’s implementation of zk-SNARK would not be open to various attack vectors throughout its lifespan.
For More on Zcash
For more detailed information on Zcash, zk-SNARK and the activities the project is undertaking to facilitate mainstream adoption, visit their website at https://z.cash.