Zcash Trading Down 6.1% Over Last 7 Days (ZEC)

Zcash (ZEC) traded down 2.9% against the US dollar during the twenty-four hour period ending at 12:00 PM ET on May 25th. In the last week, Zcash has traded down 6.1% against the US dollar. One Zcash coin can currently be purchased for approximately $98.07 or 0.00330873 BTC on popular exchanges. Zcash has a market capitalization of $1.42 billion and approximately $129.96 million worth of Zcash was traded on exchanges in the last day.

Here is how other cryptocurrencies have performed in the last day:

  • Bitcoin Gold (BTG) traded down 6.1% against the dollar and now trades at $23.38 or 0.00078883 BTC.
  • Horizen (ZEN) traded 2% higher against the dollar and now trades at $20.55 or 0.00069341 BTC.
  • Pirate Chain (ARRR) traded down 0.4% against the dollar and now trades at $0.66 or 0.00002223 BTC.
  • Alchemy Pay (ACH) traded down 7.7% against the dollar and now trades at $0.0213 or 0.00000072 BTC.
  • Bitcoin Private (BTCP) traded down 19.2% against the dollar and now trades at $1.10 or 0.00003701 BTC.
  • Zero (ZERO) traded up 2.6% against the dollar and now trades at $0.0499 or 0.00000168 BTC.
  • BitcoinZ (BTCZ) traded up 11.4% against the dollar and now trades at $0.0002 or 0.00000001 BTC.
  • Hush (HUSH) traded down 2% against the dollar and now trades at $0.0786 or 0.00000265 BTC.
  • Bit Hotel (BTH) traded up 0.7% against the dollar and now trades at $0.0224 or 0.00000076 BTC.
  • ZClassic (ZCL) traded 5.3% lower against the dollar and now trades at $0.0474 or 0.00000160 BTC.

Zcash Coin Profile

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 14,460,962 coins. Zcash’s official Twitter account is @zcashco and its Facebook page is accessible here. The official website for Zcash is z.cash. Zcash’s official message board is forum.z.cash. The Reddit community for Zcash is https://reddit.com/r/zec and the currency’s Github account can be viewed 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. “

Buying and Selling Zcash

It is usually not presently possible to purchase alternative cryptocurrencies such as Zcash directly using U.S. dollars. Investors seeking to acquire Zcash should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Changelly, GDAX or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Zcash using one of the aforementioned exchanges.

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