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Zcash
Zcash

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!!! Overview
[{$pagename}] is a [cryptocurrency] aimed at using [cryptography] to provide enhanced [privacy] for its users compared to other cryptocurrencies such as [Bitcoin].
The Zerocoin [protocol] was improved and transformed into the Zerocash system, which was then developed into the [{$pagename}] [cryptocurrency] in [2016|Year 2016]. Development of protocol improvements and the reference implementation is led by the Zerocoin Electric Coin Company, colloquially referred to as Zcash Company.[2][3] The founder and CEO of Zcash Company is Zooko Wilcox-O'Hearn. Its founding team includes cryptographer Matthew D. Green from Johns Hopkins University. Roger Ver was one of Zcash Company's initial investors.[{$pagename}] payments are published on a public [blockchain], but users are able to use an optional privacy feature to conceal the sender, recipient, and amount being transacted. Like Bitcoin, Zcash has a fixed total supply of 21 million units. In the first 4 years, 20% of the coins created in that period are allocated to a "founders' reward" shared between investors, developers, and a non-profit foundation.
Transactions can be "transparent" and similar to bitcoin transactions in which case they are controlled by a t-addr, or can be a type of zero-knowledge proof called zk-SNARKs; the transactions are then said to be "shielded" and are controlled by a z-addr. Zcash coins are either in a transparent pool or a shielded pool; as of December [2017|Year 2017] only around 4% of Zcash coins were in the shielded pool and at that time most wallet programs did not support z-addrs and no web-based wallets supported them.
[{$pagename}] affords private transactors the option of "selective disclosure", allowing a user to prove payment for [auditing] purposes. One such reason is to allow private transactors the choice to comply with [Anti-Money Laundering] or tax [regulations]. "Transactions are auditable but disclosure is under the participant's control." Wilcox has hosted virtual meetings with [Law Enforcement Agency] around the U.S. to explain these fundamentals and has gone on the record of saying that "they did not develop the currency to facilitate illegal activity"
[{$pagename}] is a [Permissionless System] employing [Zero-knowledge proof] [security]
!! More Information
There might be more information for this subject on one of the following:
[{ReferringPagesPlugin before='*' after='\n' }]
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* [#1] - [Zcash|Wikipedia:Zcash|target='_blank'] - based on information obtained 2018-01-03
This page (revision-1) was last changed on 29-Nov-2024 16:16 by UnknownAuthorTop