ZCash launch

Yesterday, October 28th, the crypto world was thrilled by the release of Zcash, the first digital currency that promises total anonymity and high level of privacy.

Bitcoin, the first and most well known digital currency based on blockchain technology, is characterized by a public ledger that register each transaction that occurs in the network, the address wallet of senders and receivers. This feature can be a problem if users are not extremely careful, because these information can reveal both the financial behavior and the real identities of the people behind the accounts.

The enthusiasm for Zcash tokens is very high because this currency solves this privacy problem by encrypting each transaction; using this layer of encryption transactions don’t leave any trace on the blockchain and no one is able to know the address wallet of senders and receivers or the amount spent. The Zcash blockchain records the occurred transactions, hiding any other information. The metadata of the transaction is encrypted and the zk-SNARK format,  developed by Zcash team, prevents theft or cheating.

How can I mine Zcash?

Zcash, like bitcoin, can be created by “mining”, solving mathematical problems using computers. But unlike bitcoin, Zcash code plans for the first four years that a portion of every mined Zcash coin (10%) will go to Zcash company and another 1% of the mined coins will go to a non-profit created to sustain the development of the code and the community.

ZCash uses Equihash as an hashing algorithm, which is an asymmetric memory-hard PoW algorithm and in order to avoid Instamine, at the beginning ZCash block rewards will be issued slower than normal. You can read the following guide: https://www.cryptocompare.com/mining/guides/how-to-mine-zcash/

or this Zcash Mining Tutorial: https://minezcash.com/zcash-mining-tutorial/

Major exchanges have already integrated Zcash; market data are available on http://ethereumwisdom.com/zcash

The roadmap of the project is available here: https://z.cash/blog/zcash-launch-and-roadmap.html

 

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