Zcash (ZEC) Price – Current Live Value

Zcash (ZEC)

Zcash (ZEC) was launched in 2016 as a private alternative cryptocurrency. Zcash operates on the same basic blockchain protocol as Bitcoin (BTC), but it has cryptographic features that allow the selective masking of certain key elements of a transaction. Zcash is a popular private alternative digital currency because the selective masking of transaction information can still be accessed and audited by financial regulators, which means that it does not carry the same negative connotations for money laundering and illegal transactions as other private coins. The value of Zcash dropped dramatically from its ICO price and then had an early rise before the crypto boom of 2018. It has since fallen back to pre-boom price levels. It is currently a top 30 crypto coin by total market cap.

Zcash is extremely similar to Bitcoin, the defining difference being its cryptographic privacy protocol. This protocol allows users to selectively mask the receiver, sender and amount of any transaction, while the rest of the ledger remains public on the underlying blockchain. However, unlike other such private cryptocurrencies, it is possible for auditors to verify the details of any masked transactions without the need to make it public to everyone else with the use of a key. This means that Zcash provides users with the base functionality of Bitcoin and the option to transact anonymously, all without the negative connotations and possible legal implications of undertaking transactions that cannot be audited.