What is ZCASH?
Zcash is a digital currency that was said to have been sprouted from the Zerocion project, which was aimed to with some features improving anonymity for all the users of Bitcoin. The Zerocoin financial internet protocol upon initial improvement and transformation yielded the Zcash cryptocurrency in 2016.
Zcash is built, developed and secured with the blockchain technology, which enables it to aide speedy and seamless financial dealings by customers through international boundaries.
The Zcash cryptocurrency was founded by the CEO is Zooko Wilcox-O’Hearn, along with a founding team of developers which comprises cryptographer Matthew. D Green from Johns Hopkins University and Roger Ver who was one of Zcash’s early investors.
Zcash was first launched on 28 October 2016 and was made available to users from every part of the world.
Zcash is an altcoin because it is developed to enhance at least one attribute of its birth mother, Bitcoin.
One very important and great attribute of the Zcash digital currency is that it allows private investors to have the options of conducting a selective disclosure, which then affords them the avenue to have proof of their payments for auditing purposes.
Also, Zcash affords all the private investors on the platform the choice of complying with all the available online bodies that help fight against money laundering or excessive tax regulations. With the Zcash cryptocurrency and its backup blockchain technology, transactions for users are very auditable, but the entire disclosure of the details in under the total control of the participant, not the middle men or any overseeing body means that the Zcash through this medium promotes decentralization, making it available to all users in order have a completely private financial activity that is not being monitored by an online banking system or any other intermediary of the sort.
Wilcox, the founder, and CEO of the Zcash altcoin, own his own accord hosted virtual meetings with various law enforcement agencies to sensitize them on the entailments of the Zcash digital currency, and also to tell them about the fundamental motive behind its launching and operation; that Zcash was not developed to facilitate online illegal activity in the marketplaces.
The payment made with Zcash altcoin cryptocurrency are broadcast on a general blockchain, which is public, but the users of the digital currency have access to a non-mandatory privacy feature that helps the sender, receiver and amount that is being transacted on a regular and guaranteed basis.
Due to some of its remarkable and market-dragging features, the Zcash cryptocurrency wafted its way into the top ten cryptocurrencies by Market Cap on April 4th, 2017. However, due to competition from other cryptocurrencies and altcoins in the digital currency marketplace, Zcash was retreated on the scoreboard to 17th place as of September 2017.