Zcash is a cryptocurrency that grew out of the Zerocoin project, It aimed at improving anonymity for Bitcoin users. Zcash payments are published on a public blockchain, but users are able to use an optional privacy feature to conceal the sender, recipient, and amount being transacted. Zcash affords private transactors the option of "selective disclosure", allowing a user to prove payment for auditing purposes. One such reason is to allow private transactors the choice to comply with anti-money laundering or tax regulations. "Transactions are auditable but disclosure is under the participant's control.
Zcash was set to launch on the 28th of October 2016 and has a hefty heavy weight team working on it and backing it. These include names such as Roger Ver and Barry Seibert as well as Pantera Capital. The code is open source which is unusual as the Company - run by Zooko Wilcox, a 41 year old cryptographer - will expect to give 10% of the coins for funding costs and 1% for nonprofit organisations. On April 4, 2017, Zcash entered the top 10 cryptocurrencies by market cap.
Features that distinguish it from other cryptocurrencies. The Bitcoin protocol is not just about sending money from A to B. It has many features
It has own unique blockchain
Zcash utilizes advanced new cryptographic techniques to offer optional improved privacy and transparency
Zcash affords private transactors the option of "selective disclosure", allowing a user to prove payment for auditing purposes.
Zcash’s technology gives users the ability to enjoy an even greater level of privacy by allowing users to remain anonymous, Zcashprovide them with greater fungibility.Many cryptocurrencies use a privatekey to get the transaction done which is an address to pinpoint and identify a user. zk-SNARKs in the other hand gives you the ability to pass over information without identifying the entity. It shows only the transaction took place and now who or what took place.Because of its features the Big scale Industries like Apple,AlphaBay,WikiLeaks etc.
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