What is Zcash?
Zcash is an open source, decentralized cryptocurrency, with system-wide privacy. Zcash aims to set a new standard for privacy through the use of groundbreaking cryptography.
Can i buy or mine zcash
Zcash can currently not be bought. While the current version is Alpha ("zc.v0.11.2.z7") and running on Testnet only, the expected public release is planned for September and miners are slowly getting ready to polish their rigs.
A significant feature of the Zcash mining launch will be the implementation of the so called "mining slow start". With mining slow start, the block reward linearly ramps up over a period of 5000 blocks before reaching its maximum value. This limits the effect of the "race to start", by providing a window after production launch during which the reward is low. Miners surprised by the launch will only be missing out on the low-value early blocks.
Don't FOMO, instructions how to easily mine some Zcash after launch will be available here soon!
What makes Zcash different from other crypto?
Zcash offers total payment confidentiality, while still maintaining a decentralized network using a public blockchain. Unlike Bitcoin, Zcash transactions automatically hide the sender, recipient, and value of all transactions on the blockchain.
Only those with the correct view key can see the contents. Users have complete control and can opt-in to provide others with their view key at their discretion. Zcash transactions do not depend on the cooperation of other parties.
How does the groundbreaking cryptography work?
Since the contents of Zcash transactions are encrypted and private, the system uses a novel cryptographic method to verify payments. Zcash uses a zero-knowledge proof construction called a zk-SNARK, developed by a team of experienced cryptographers.
These constructions allow the network to maintain a secure ledger of balances without disclosing the parties or amounts involved. Instead of publicly demonstrating spend-authority and transaction values, the transaction metadata is encrypted and zk-SNARKs are used to prove that nobody is cheating or stealing.
Visit https://z.cash/ for more information.
