Zcash Market Capitalization Reaches $533.90 Million (ZEC)

Zcash (CURRENCY:ZEC) traded 3.4% higher against the dollar during the twenty-four hour period ending at 17:00 PM ET on June 10th. Zcash has a market cap of $533.90 million and $314.40 million worth of Zcash was traded on exchanges in the last 24 hours. One Zcash coin can currently be bought for approximately $79.38 or 0.01000320 BTC on major cryptocurrency exchanges including BCEX, Allcoin, BX Thailand and CoinExchange. During the last week, Zcash has traded 7.5% lower against the dollar.

Here is how related cryptocurrencies have performed during the last 24 hours:

  • Bitcoin Gold (BTG) traded up 4.8% against the dollar and now trades at $25.76 or 0.00324658 BTC.
  • Horizen (ZEN) traded up 7.6% against the dollar and now trades at $10.51 or 0.00132486 BTC.
  • ZClassic (ZCL) traded up 1.5% against the dollar and now trades at $1.67 or 0.00021106 BTC.
  • CrypticCoin (CRYP) traded down 18.3% against the dollar and now trades at $0.0008 or 0.00000010 BTC.
  • Bitcoin Interest (BCI) traded 0.5% lower against the dollar and now trades at $0.0971 or 0.00001224 BTC.
  • Bitcoin Private (BTCP) traded 17.5% higher against the dollar and now trades at $0.31 or 0.00003905 BTC.
  • BitcoinZ (BTCZ) traded down 16.5% against the dollar and now trades at $0.0002 or 0.00000003 BTC.
  • Zero (ZER) traded down 1.3% against the dollar and now trades at $0.0798 or 0.00001004 BTC.
  • Hush (HUSH) traded 1.3% higher against the dollar and now trades at $0.0606 or 0.00000764 BTC.
  • Bitgem (BTG) traded flat against the dollar and now trades at $2.79 or 0.00034116 BTC.

Zcash Profile

Zcash is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. It launched on October 28th, 2016. Zcash’s total supply is 6,726,194 coins. The official website for Zcash is z.cash. The official message board for Zcash 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. “

Buying and Selling Zcash

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

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