According to a research report published by eToro, Zcash (ZEC), the number 22 cryptocurrency by market capitalization, offers among all crypto assets the highest level of privacy protection. Zcash, which not only protects the identities of both parties in a transaction but also protects the history of user transactions, has a market estimate of approximately 327 million dollars.
Zcash is a digital currency that depends on a decentralized blockchain, focusing on making exchanges more private than in the blockchain of Bitcoin. ZEC (Zcash token) exchanges are distributed as Bitcoin’s in a public blockchain, but unlike Bitcoin, Zcash allows users to disclose private data selectively. Zcash also provides encrypted memo fields that provide the transaction beneficiary with a chance to deliver messages that can only be seen by a view key holder. This can be used to send uncomplicated messages or items such as payment code and information about private or business.
The characteristic feature of the ZEC is the option of confidentiality, if necessary, for its holders. This token allows the user the freedom either to conduct transparent transactions (dubbed transactions) or to conduct fully private transactions. Zcash also provides users with the keys to their history of transactions. Only a Zcash user can decide if another person has access to his or her history of transactions.
As far as the technology behind Zcash is concerned, it is based on the concept of zk- SNARKs, a non-interactive argument of knowledge with succinct knowledge. Zcash was the first large- scale zk-SNARK implementation and is now being implemented in Ethereum and JP Morgan’s Quorum blockchain platform.
The Zcash Protocol can also be supported by regulation. Gemini, Cameron and Tyler Winklevoss, founders of the US cryptocurrency exchange, state that the regulators approve Zcash among all privacy coins.
The reason Zcash has a regulatory approval potential is that it does not fully identify itself as a token for data protection. The token offers privacy to those who want it or when it is felt by its users to be worth the thing, but it also offers the user the freedom for certain transactions
In terms of trade and value, the report reads that Zcash is “third” among the coins on privacy. But ZEC’s daily volume is slightly higher than XMR but significantly smaller than Dash to become public.
Transaction fees on the Zcash network are also low at about 0.0001 ZEC or about $ 0.005 at the current price of about $ 53 for Zcash. Like Bitcoin, there’s a finite amount of ZEC to go around (about 21 million), and it’s working on a working concept proof.