The purpose of creating any crypto currency is its decentralization and confidentiality in the conduct of mutual settlements. It is due to these 2 factors, crypto money increases the army of its supporters. However, despite the rapid development in the field of crypto-currencies, complete anonymity of transactions can not be guaranteed by any fork. From this position, one of the innovative coins with high potential for today is considered ZenCash. It is her principles of anonymity and prospects that will be discussed in this article.
History of creation and main investors ZenCash
The developers of ZenCash loudly announced to the whole world that this fork according to the level of confidentiality is the best option among the known crypto currency. According to expert estimates, the coin outperformed such famous forks as Dash and Monero, which at one time were considered the best anonymizers.
The startup token came in the autumn of last year, so ZenCash is quite young. But despite this, managed to gain a very solid weight in the world of cryptography. The reason is the initial amount of investment that was invested in the fork. So, in November 2016, the fund for the start-up project amounted to 715 thousand dollars. An important fact remains that in the capacity of investors famous persons were attracted, who had already invested their capital in companies with a worldwide reputation:
Nawal Ravikant previously acted as an investor in the transport company Uber and social project Twitter;
Barry Silbert is the main founder of the SecondMarket financial project;
Roger Ver created the Blockchain.info network, as well as a settlement method known as Bitpay.
This is only part of the names that have allocated their funds for the successful launch of the best project in terms of the impossibility of tracking transactions in the world of digital currency.
A little about the currency itself ZenCash
The presented currency was formed as a result of the split of the ZEC. As a result, there were 2 coins - originally Zclassic (ZLC), and then ZenCash (ZEN). This division is somewhat reminiscent of the situation that occurred with the air, and then in August this year with Bitcoin.
At the same time Zclassic completely inherited the technical characteristics of ZCash, but with a slight difference:
ZLC assumes a one hundred percent payment for the found block;
ZEC provides the master only 80% of the reward, the rest for the next 4 years falls on the purse of the developer.
The very fork of ZLC is supported by developers. After all, it contained a promising algorithm of encryption, assuming zero knowledge of Zero Knowledge Proofs. It is this algorithm that gives the possibility of absolute confidentiality about the transaction.
Now this principle has partially passed to ZEN, which in principle has remained alone, as the "classic" is no longer traded on the leading exchanges. Developers do their best to improve the principles of anonymity. Now the data on transfers made by ZenCash are invisible to all network participants, except for the party that made the transaction.
The separation of currencies occurred in the ratio 1: 1, that is, 1 Zclassic unit of fork ZenCash. 2 new forks appeared when the number of found blocks on ZEN reached 110,000.
The principles of award distribution for ZenCash Mining
To increase the flow of investment funds, which will be aimed at improving the level of protection of information about the transferred data, in the ZEN fork, the procedure for distributing the award for the block found during the mining was transformed. Innovations are the following:
12.5 coins go to the miner, which is 88% of the total amount of reward;
5% will be spent on investing in DAO, if any;
3.5% receive Secure Node operators;
The remaining 3.5% are sent to the ZenCash Core development team.
Note: a similar principle is now used in Zclassic, although earlier the award went completely to the "miner".
Main current currency data
ZenCash is inherently a confidential platform for financial activities, communication opportunities, and publishing documents using IPFS technology.
Current fork indicators at time of publication:
year of foundation - 2016;
launch - 2017;
The cost of a coin on the market (capitalization) is - $ 14730108;
trade designation for exchange - ZEN;
protection method (generation) - PoW;
official website - https://zencash.io;
extraction algorithm - Equihash;
the total number of coins (issue) - 21 million;
exchange rate - 1 ZEN = 0.00174753 BTC.
Prospects for the development of ZenCash
Since the summer of 2017, there has been a trend towards the growth of this fork. At the moment, currency transactions with ZEN are carried out on such trading platforms as:
Trade Satoshi;
American Bittrex;
Chinese CryptoDAO.
This has a token rise in price, as the daily volumes of operations with ZenCash are quite good, as for the new fork. In addition, in favor of solid prospects of these digital money, says the availability of new ATMs installed in the offices of the National Restaurant Association. These systems allow you to accept payments and coin cash in US dollars.
Also, the growth trend shown by the currency in August, and a slight sinking in September, compared to other tokens, leads ZEN into the category of the most promising crypto-deniers. Given that the volume of coins is limited by a small issue, the jump in value in the near future is simply guaranteed for objective reasons.
The result
Given all of the above factors, the capitalization of the new token will increase. The attraction of new fans of the coin is not far off, since the anonymity algorithm put into ZenCash is unique and has not yet been implemented in any other crypto currency. This fact will undoubtedly play in favor of a new token
