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what is zcash coins privacy protecting digital currency

Finding out what is zcash digital currency and how does zec coins work this is a privacy focused blockchain and crypto that was developed help againt bitcoins
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Here on this platform you can build a zcash mining rig with a graphics card as they are good at mining. This platform will enable you to convert dogecoin a zcash with easy steps. Here is a zcash blossom which is third network update for the cash.

privacy protecting coin

what is zcash coins how does it work

One such possibility for this is to allow these private transactors the decision to adhere to anti-money laundering or tax regulations. Other examples of why a user might choose to use Zcash for anonymous  encrypted transactions include An individual with a chronic medical condition who would like to purchase his pills online anonymously; a company who would like to protect its trade secrets or supply chain information from competitors; an entity who would like legal services for a private matter like bankruptcy; a couple who are into eye-brow raising bedroom toys; etc. are all examples of individuals seeking anonymity for privacy reasons.

turn zcash digital coin

Zcash is a cryptocurrency aimed at providing cryptography to provide improved privacy for its users compared to alternative cryptocurrencies including Bitcoin. Comparable to Bitcoin, Zcash cryptocurrency has an established total supply of 21 million units. The currency code for Zcash is ZEC. It was founded by Zooko Wilcox-O’Hearn in October 2016 in trying to focus on the open financial system with a privacy feature which users of the internet has requested and wanted. Bitcoin is the original in the open financial system, Zcash is looking to continue a similar hierarchy however with most importantly privacy and fungibility combined. The term fungibility means the ease to which an asset can be replaced for another, which is highly important in the crypto currency world as this assures that one user’s coin is as good or equal to another. Therefore, while Bitcoin is an open ledger system, Zcash hence is an encrypted open ledger. This entails that even though all those transactions will be recorded onto a blockchain, the transactions are encrypted and only accessible and viewable by such user’s that have been allowed to do so. Transactions can be “clear” and comparable to Bitcoin transactions in which they are contained by a t-addr or can be a category of zero-knowledge-proof named zk-SNARKs; the processed transactions are said to be “safe guarded” and contained by a z-addr. Zcash coins are either in a clear block or protected block and at a previous timeframe as of around December 2017 a limited amount of Zcash coins, roughly 4% was in the safeguarded block and at the same timeframe the majority of wallet programs did not back z-addrs also no web-based wallets backed the currency either. Zcash and other highly anonymous cryptocurrency are often criticised for possibly providing a secure haven for untraceable transactions which would be related to illegal activity for users specifically on the dark web where most hackers or criminals of such nature would operate to commit fraud for example. However, this cryptocurrency allows users who operate and purchase through private transactions the capability of “optional exposure” giving said user the action of proof of payment for auditing requirements

Zcash Digital Coins

What Is Zcash

Zcash cryptocurrency is fairly new in the market, and anyone can get started with it right away by using its unique privacy features. Zcash is uniquely designed for everyone, it is straightforward, because as a cryptocurrency and legacy of the bitcoin blockchain. You can store the earnings in a preferred exchange or another wallet such as Trezor or Ledger Nano S, and you can also mine Zcash directly. Zcash cryptocurrency is famous for its supports end-to-end encryption of all information pertaining to the shielded transactions, and also for security features. Far, surpasses all other cryptographic developments to date, Zcash developers create this system. This is quite similar to BTC. As bitcoin only supports T Addresses, Zcash also supports Z Addresses as well as T Addresses.