Zcash 1-Day Trading Volume Reaches $57.21 Million (ZEC)

Zcash (CURRENCY:ZEC) traded up 4.4% against the U.S. dollar during the 24-hour period ending at 1:00 AM Eastern on May 27th. During the last week, Zcash has traded 4.8% lower against the U.S. dollar. Zcash has a total market cap of $824.31 million and $57.21 million worth of Zcash was traded on exchanges in the last day. One Zcash coin can currently be bought for approximately $197.70 or 0.02937610 BTC on cryptocurrency exchanges including Gate.io, Huobi, Ovis and Tux Exchange.

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

  • Bitcoin Gold (BTG) traded up 1.4% against the dollar and now trades at $32.23 or 0.00478955 BTC.
  • Bitcoin Private (BTCP) traded 2.9% higher against the dollar and now trades at $15.47 or 0.00229835 BTC.
  • ZenCash (ZEN) traded 3.6% higher against the dollar and now trades at $19.70 or 0.00292679 BTC.
  • Bitcoin Interest (BCI) traded down 1.7% against the dollar and now trades at $3.64 or 0.00054031 BTC.
  • ZClassic (ZCL) traded 4.2% higher against the dollar and now trades at $10.41 or 0.00154703 BTC.
  • BitcoinZ (BTCZ) traded 1.7% higher against the dollar and now trades at $0.0016 or 0.00000024 BTC.
  • Hush (HUSH) traded up 7.2% against the dollar and now trades at $0.54 or 0.00007955 BTC.
  • Zero (ZER) traded 10.5% higher against the dollar and now trades at $0.47 or 0.00007042 BTC.
  • Bitgem (BTG) traded 4.2% higher against the dollar and now trades at $5.12 or 0.00076018 BTC.
  • VoteCoin (VOT) traded up 1.3% against the dollar and now trades at $0.0089 or 0.00000132 BTC.

Zcash Profile

Zcash (ZEC) is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. It was first traded on October 28th, 2016. Zcash’s total supply is 4,169,606 coins. The official message board for Zcash is forum.z.cash. Zcash’s official Twitter account is @zcashco and its Facebook page is accessible here. The official website for Zcash is z.cash.

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. “

Buying and Selling Zcash

Zcash can be bought or sold on the following cryptocurrency exchanges: Coinrail, LiteBit.eu, Abucoins, Bithumb, BigONE, Sistemkoin, Waves Decentralized Exchange, Gate.io, BX Thailand, CEX.IO, Bittrex, GOPAX, Trade Satoshi, OTCBTC, Coinroom, WEX, Lbank, Bitfinex, The Rock Trading, Upbit, Binance, HitBTC, OKEx, Kraken, BTC Trade UA, Bit-Z, Allcoin, YoBit, BCEX, Ovis, Cryptomate, BTC-Alpha, Tux Exchange, Braziliex, Poloniex, CoinEx, CoinExchange, Cryptohub, Qryptos, Mercatox, Huobi, Exmo, C2CX, Cryptopia, Bitlish and Crex24. It is usually not currently possible to purchase alternative cryptocurrencies such as Zcash directly using US dollars. Investors seeking to acquire Zcash should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Changelly, GDAX or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Zcash using one of the exchanges listed above.

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