ZCash (ZEC) Coin is one of the frequently mentioned altcoin projects in the cryptocurrency market. According to experts, this promising project continues to attract the attention of local investors. In “ZCash (ZEC) 101: Discover the Privacy-Focused Cryptocurrency” article, we will delve into all the topics that Zatrun.com readers are interested in detail.
What is ZCash (ZEC)?
Zcash (ZEC) is one of the best-known privacy-focused cryptocurrencies in the industry, which utilizes advances in cryptography to offer optional anonymity to users when transacting. Zcash is a decentralized cryptocurrency project focused on privacy and anonymity, with its native cryptocurrency being ZEC coin. The ZEC coin operates on a principle that uses the zero-knowledge proof technology called zk-SNARK, which allows network nodes to verify transactions without revealing sensitive information about them.
Zcash is a blockchain-based payment network that prioritizes privacy, utilizing zero-knowledge proofs (ZKPs) to safeguard transactions and keep the transaction content concealed, even on a public blockchain. Zcash was born from the Zerocash protocol and forked from the Bitcoin blockchain. It is one of the most popular privacy-focused projects.
What Makes the Project Unique?
Before the Zcash project, cryptocurrencies were mostly designed to have pseudonyms like Bitcoin (BTC). This meant that data about the amount exchanged, the addresses from which funds were sent, and the addresses to which funds were received were recorded on the blockchain for everyone to see. Consequently, this data could be linked to individuals by companies, governments, or malicious actors.
However, Zcash, launched in 2016, stands out for offering a higher level of privacy by providing “shielded addresses” designed to encrypt transaction and address data stored on the blockchain. The biggest difference that sets ZEC coin apart from other cryptocurrency projects is its adoption of a privacy-focused infrastructure. All transactions made using the ZCash protocol are protected and therefore highly reliable.
How to Buy ZEC Coin?
ZEC Coin is currently traded on exchanges such as Binance, Huobi Global, Coinbase Exchange, Kraken, Gate.io, KuCoin, Bitfinex. To buy ZEC Coin, you can choose any exchange that lists it. Follow these easy steps to buy ZEC Coin:
First, access the web or mobile application of an exchange that lists ZEC Coin. Then, complete the account creation process. Follow the identity verification and approval process to complete the deposit process. Finally, create a buy order for the desired balance amount of ZEC Coin and keep it in your secure account.
When buying ZEC Coin, it’s important to pay attention to a few points for security and user experience. When choosing an exchange, it can be useful to choose reliable and reputable exchanges and evaluate factors such as ease of use, trading volume, and transaction fees of the exchange.
