In the first part of the review, we discussed the goals and objectives set by the ZeCash team , deploying a project to create a new crypto currency that will enable transactions to be made faster and safer, anonymously and less energy-intensive. In addition, ZeProtocol protocol will be created, ZeWallet crypto-currency wallet, ZeAnon anonymity system and ZCH tokens.
In the second part of the review, we talked about the essence and conditions of holding the Crowdsdale ZCH tokens, which can be exchanged for coins ZeCash Coin after their release, as well as learned about the current capabilities of the ZeWallet crypto-currency wallet, the features of the PoS protocol (Proof of Stake) and its difference from PoW (Proof of Work).
In this final part of the ZeCash project review, we will tell you what the significant differences and advantages of this new coin are to the veteran of the crypto currency market - bitcoin.
Foreword
Despite the fact that bitcoin is the first crypto currency in history, over 10 years of its existence, the technology that became its basis (if we talk about Proof of Work) has simply become obsolete, without bringing the benefits that existed before and, as a result, little by little it is replaced by new solutions, including the ones suggested by the creators of ZeCash Coin.
Imagine that mobile phone manufacturers still used parts from old phones, because they were the first. It would be stupid enough, because the new parts are much more compact and of high quality. Also with the protocols PoW and PoS, which clearly differ from each other, giving positions bitcoin.
Mining and Mining
Mining bitcoin is still the main way to extract and use it. But, despite the popularity of this coin and its production, the miners increasingly have to either abandon the mining of bitcoin altogether, or extract altcoyins, and then convert them to BTC.
The first problem faced by the miners is the commission for conducting the transactions, which turned out to be so high that when accounting for the costs of electricity and equipment, the mining of bitcoins may prove to be simply unprofitable - incomes do not cover expenses.
Significantly worsened and the speed of transactions, which is important for any participant in the crypto-currency market, which is forced to lose opportunities and profits due to transactional delays.
With ZeCash Coin, the miners will be able to mine not only the classic way - mining, confirming transactions, but also the new - Minting, which will become possible with ZeCash, ZeProtocol and PoS.
The essence of the mint (to mint - coin coins) is the authentication of transactions. Miners earn at the expense of mining, but at the expense of a stable receipt of interest from the storage of crypto-currency on their crypto-currency purse ZeWallet.
On the one hand, this retention of coins resembles a fixed deposit with a fixed term, that is, the user earns profit for the entire period of keeping the crypto currency in his purse, and the greater the amount and the term of withholding, the greater the interest.
Security
The PoS protocol and the ZeProtocol coin protocol are inherently much safer than the same Proof of Work. The problem is that PoW is too vulnerable to so-called "51% attacks", in which the hacker controls more than half of the blocks in the blockroom, which allows him to generate blocks faster than others and replace the original blocks with his own.
At best, the result can be the inability to sell a coin on the exchange, and at worst - hackers will be able to prevent the confirmation of transactions and control the blockade.
The feature of the coin ZeCash Coin is that it is much safer and less vulnerable to similar attacks, like "51% attacks". Thus, an attacker will have to wait a very long period of time to be able to use coins to carry out an attack.
Transaction speed
Transaction delays are one of the most frequent things that bitcoin holders are complaining about that carry out transactions with them. There are too many unconfirmed transactions on the BTC network, which makes it useless to use bitcoin.
One of the key features of ZeCash Coin is its speed. Transactions are carried out so quickly that there can be no question of any transactional delays - the speed of payments is guaranteed.
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