A fairly popular belief among the masses, especially those new to the cryptocurrency field and industry, is the fact that everything is anonymous and transactions cannot be found and linked to its users. This idea has been bought by many people and believe in it until they become a part of the community itself.

Each user has an address and these addresses are used to send or receive cryptocurrency, that is, to carry out transactions. These addresses are unique to each user. Transaction details are publicly available through various websites such as bscscan and etherscan which list transaction details and wallet details. These addresses can then be tracked through various methods. But what if you don’t want people to know about your transactions and your address details? For that, you would need a blockchain that does not list these details to the public. Zcash is one of those blockchain networks.

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Zcash and how it works

Zcash is a blockchain that operates on zero-knowledge proof (a protocol in which a statement (the transaction is true without providing any evidence other than the statement itself) and zk-SNARK (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge). Other blockchains publish transaction details and addresses related to different wallets, Zcash by default does not publish this information to the public, however for regulatory compliance and auditing this information is published.

Transparent and protected transactions

Transparent and protected transactions are the method that Zcash can be used. In transparent transactions, people can observe public addresses. On the other hand, protected transactions allow the use of zero-knowledge proof and zk-SNARK to completely hide transaction details.

The native Zcash Token (ZEC)

Zcash’s native token is ZEC. At the time of writing, ZEC is trading at a price of $ 105.29 with a 2.95% increase over the last day. The coin reached the highest price of $ 372 during the month of May 2021. The coin had created a low of $ 83 during the retracement after ATH, but is currently doing very well against some of the other coins on the market. . According to coinmarketcap, at present, the circulating supply of ZEC tokens is around 12 million with a peak supply of almost 21 million. The total market cap is around $ 1.3 billion and dominates the market by around 0.07% with a ranking of 72.

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