Home Forums coins Zcash What is Zcash?

  • This topic has 9 replies, 4 voices, and was last updated 4 years ago by Anonymous.
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    • #27056
      Coins
      Keymaster

      What is Zcash?

      Zcash is the first open, permissionless cryptocurrency that can fully protect the privacy of transactions using zero-knowledge cryptography.

      Learn more: https://coins.community/zec/

    • #27171
      Anonymous
      Inactive

      Privacy currency yep.

    • #27176
      Coins
      Keymaster

      Yes, but from what I understand, privacy with Zcash is optional. So while Zcash has a privacy feature, many people fail to use it. This is why some argue that Monero (XMR) is a much better privacy coin, as it is private by default (and can only be used privately).

    • #27229
      Anonymous
      Inactive

      A privacy feature for your money that’s optional?? Right? Why don’t banks just allow anybody to come to the teller’s window and check the account balance of anybody else? Am I confused or misunderstanding the comments about Zcash?

      • #27231
        Coins
        Keymaster

        lol a little.

        With bitcoin, everything is public on the blockchain. Anyone can view your transactions. The thing that makes it private is, no name is associated with the account, so no one will know who you are, unless you tell them.

        Zcash works the same, but gives the option to hide your transaction log. There is a benefit to both really. When you pay someone publicly, you have the proof to show the entire world.

        Public payments work well if your sending money to say, Amazon and want to make sure there are no disputes. But you may want to send money to your mother, who is currently hiding from a drug dealer, even though she swears shes been clean for over a year… But tells you she needs money for food… and your husband wants you to cut her off… and the local gangs has been asking questions about your mothers whereabouts. In this case, you may want to send it privately.

      • #27250
        Anonymous
        Inactive

        LOL. When I first saw the topic Zcash, I wasn’t going to click on it. Never heard of it. They say the only dumb question is the one you don’t ask. I took the risk of making myself look like a complete idiot but got an answer from you that opened up my understanding. Thank you so much.

      • #27255
        Coins
        Keymaster

        haha, you are welcome!

    • #27737
      Anonymous
      Inactive

      Information is currency. Found a link to use for the latest news about Zcash. Sharing it.

      https://cointelegraph.com/tags/zcash

    • #28105
      Anonymous
      Inactive

      In a blockchain you do need some privacy and Monero and Zcash are the forerunners- also Monero is able to make transactions untraceable with technology called ring signatures. Zcash uses advanced cryptographic techniques to make sure transactions are accepted without all the data being visible, and the technology behind it is called Cryptonote.

    • #28137
      Anonymous
      Inactive

      I created an account at a site that has faucets for various cryptocurrencies. Zcash is one of the coins. What I do is collect Zcash coins and then exchange them for Litecoins at that same site.

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