Zcash is a new cryptocurrency that that was launched on 28th of October 2016 by American computer security specialist Zooko Wilcox. He has over 20 years’ experience in decentralized computer systems. He is recognized for his work on Tahoe-LAFS,BLAKE2,ZOOKOS Triangle and DigiCash. Zcash is an open source decentralized programmable financial system.
Zcash is a decentralized currency that is aimed to bring Interchangeable commodities to the growing crypto currency market. This is done by the unlinking of tokens that are shielded from there block chain history. Zcash is unique because it has the latest cryptography that allows its users to use the public blockchain, but at the same time keeping all their private information protected. Zcash uses the latest cutting edge Security that allows only Zcash users to make payments or transfer and no-one else can see them. Also unlike traditional transfers with credit cards and atm machines that need personal information that can sometimes cause problems with machines or countries that do not recognize that card or bank. Cryptocurrencies do not have as much personal information attached so your personal details cannot be hacked Also with Zcash there are no transaction fees unlike most other platforms that charge a fee also Zcash has easy and fast payments that only take a few seconds as it is digital and only needs the users address to process payment. Zcash can be used worldwide the only problem is that with it being not one of the well-known cryptocurrency there could be lack of places that will accept Zcash .
Pros to Zcash
- Guarantees security
- Fast Payment
- No fees
- No third party approvals
- Can be used world wide
- Customer Anonymity
Cons to Zcash
- Not many companies use Zcash
- Irreversible payment
- Risk of Value decrease
- Relatively new platform so isn’t tried and tested
I think at the moment Zcash is not one of the know cryptocurrencies. But I think it has potential they have an experienced team and the developer Zooko Wilcox has over 20 years’ experience so I think in time once Zcash is known by more people it will soon be more popular and more widely used I the that foundations are there and it will evolve very quickly. For more information on Zcash check out their website here. www.z.cash
So should you sit on your Zcash
I think Zcash is defiantly one to look out for I think there is a potential the team behind it know there stuff and I think it will be eventually accepted by most places. But for now it just lacks visibility but I think this will quickly change as more and more people are interested in cryptocurrencies. They have some nice features and some good ideas. The website is developed well is easy to use, it is nice and easy on the eye and they are very transparent about everything which I like. I think it is worth investing early and the sit and watch it grow.
Have you invested in Zcash? How would you rate it? Choose below