Zcash Hits Market Cap of $461.86 Million (ZEC)

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Zcash (CURRENCY:ZEC) traded 4% higher against the dollar during the 24-hour period ending at 10:00 AM E.T. on January 21st. One Zcash coin can now be bought for about $53.53 or 0.00618208 BTC on major exchanges including Braziliex, Waves Decentralized Exchange, Allcoin and GOPAX. Zcash has a total market cap of $461.86 million and $333.72 million worth of Zcash was traded on exchanges in the last day. During the last seven days, Zcash has traded up 24.4% against the dollar.

Here’s how similar cryptocurrencies have performed during the last day:

  • Bitcoin Gold (BTG) traded 5.2% higher against the dollar and now trades at $11.10 or 0.00128179 BTC.
  • Horizen (ZEN) traded 0.4% higher against the dollar and now trades at $10.81 or 0.00124818 BTC.
  • ZClassic (ZCL) traded down 3% against the dollar and now trades at $0.23 or 0.00002692 BTC.
  • Zero (ZER) traded up 3% against the dollar and now trades at $0.0768 or 0.00000887 BTC.
  • Bitcoin Private (BTCP) traded 5.2% higher against the dollar and now trades at $0.12 or 0.00001422 BTC.
  • BitcoinZ (BTCZ) traded 1.1% higher against the dollar and now trades at $0.0001 or 0.00000001 BTC.
  • Bitcoin Interest (BCI) traded 1.7% lower against the dollar and now trades at $0.0277 or 0.00000320 BTC.
  • CrypticCoin (CRYP) traded 1.7% lower against the dollar and now trades at $0.0002 or 0.00000002 BTC.
  • Hush (HUSH) traded 2.6% higher against the dollar and now trades at $0.0402 or 0.00000464 BTC.
  • Bitgem (BTG) traded flat against the dollar and now trades at $2.79 or 0.00034116 BTC.

About Zcash

ZEC is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. Its genesis date was October 28th, 2016. Zcash’s total supply is 8,628,044 coins. Zcash’s official website is z.cash. Zcash’s official message board is forum.z.cash. Zcash’s official Twitter account is @zcashco and its Facebook page is accessible here.

According to CryptoCompare, “zk-SNARKsThe BasicZcash is the first widespread application of zk-SNARKs, a novel form of zero-knowledge cryptography. The strong privacy guarantee of Zcash is derived from the fact that shielded transactions in Zcash can be fully encrypted on the blockchain, yet still be verified as valid under the network’s consensus rules by using zk-SNARK proofs. The acronym zk-SNARK stands for “Zero-Knowledge Succinct Non-Interactive Argument of Knowledge,” and refers to a proof construction where one can prove possession of certain information, e.g. a secret key, without revealing that information, and without any interaction between the prover and verifier. “Zero-knowledge” proofs allow one party (the prover) to prove to another (the verifier) that a statement is true, without revealing any information beyond the validity of the statement itself. For example, given the hash of a random number, the prover could convince the verifier that there indeed exists a number with this hash value, without revealing what it is.   Application to ZCASHIn order to have zero-knowledge privacy in Zcash, the function determining the validity of a transaction according to the network’s consensus rules must return the answer of whether the transaction is valid or not, without revealing any of the information it performed the calculations on. This is done by encoding some of the network's consensus rules in zk-SNARKs. At a high level, zk-SNARKs work by first turning what you want to prove into an equivalent form about knowing a solution to some algebraic equations. In the following section, we give a brief overview of how the rules for determining a valid transaction get transformed into equations that can then be evaluated on a candidate solution without revealing any sensitive information to the parties verifying the equations. “

Zcash Coin Trading

Zcash can be traded on these cryptocurrency exchanges: OTCBTC, Kuna, CoinExchange, Exmo, YoBit, Graviex, Cryptomate, Cryptohub, Altcoin Trader, BX Thailand, Waves Decentralized Exchange, BigONE, Kraken, LiteBit.eu, Sistemkoin, Binance, BiteBTC, Cryptopia, Allcoin, LocalTrade, Coinut, CEX.IO, GOPAX, WEX, HitBTC, LBank, CoinEx, BTC-Alpha, Huobi, BTC Trade UA, Poloniex, Bitfinex, Bitinka, Bitlish, Bit-Z, Coinroom, Mercatox, Tux Exchange, Braziliex, Instant Bitex, Ovis, Crex24, Bittrex, Upbit, BitBay, Coinrail, Bithumb, C2CX, BCEX, OKEx, Gate.io, Gemini, Trade Satoshi and Liquid. It is usually not currently possible to purchase alternative cryptocurrencies such as Zcash directly using U.S. dollars. Investors seeking to trade Zcash should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as GDAX, Coinbase or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Zcash using one of the aforementioned exchanges.

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