Zcash was created in 2016 by Zooko Wilcox – O’Hearn. It is an open source digital currency that is peer to peer. The Zcash is similar to Bitcoin in the sense that they both utilize the same blockchain technology. The Zcash outperforms the Bitcoin in the areas of security that is, Zcash gives a better security when compared with bitcoin.
Some features of Zcash you need to know.
- Improved privacy
One of the outstanding features of this coin is better privacy. The Zcash protocol has the unique endowment of using zero-knowledge proofs as well as zk – SNARK for transaction verification. That is, you can carry out transactions without exposing sensitive details such as your wallet address, amount transferred and the receivers address.
- Modern PoW Algorithm
Zcash uses a new algorithm to boost its effectiveness. It employs the use of a new proof of work algorithm that is known as Equihash. In fact, the best way to do your Zcash mining is through a GPU rig, The Equihash when compared with the SHA – 256 is more memory inclined.
- Fixed supply
Another important feature of the Zcash is that it possesses a fixed supply of ZEC units. This feature is similar to that of Bitcoin. The fixed amount is 21 million and it is worthy to know that 2.8 million ZEC are already in circulation out of this 21 million ZEC.
Zcash Best Wallet services
There are two types of wallet available; we have the software wallet and the hardware wallet. The hardware wallet is highly recommended for holding Zcash. The hardware wallet is very safe and secured and cannot be tampered with. Another plus that you should consider about the hardware wallet is that the chances of getting hacked is nil as the private key does not leave your hardware for once. Some of the hardware wallets that can be used to hold Zcash are Trezor as well as Ledger Nano S.
One disadvantage of using a hardware wallet to hold a Zcash is the fact the none of the hardware wallet supports the Z-address at the moment. You can still use the hardware wallet if you are not bothered by the anonymous transactions and if you plan investing on a long time basis.
Ways to exchange to Zcash
There are good numbers of ways to exchanging your crypto to Zcash. To use these methods of exchange, you need to have cryptos like ETH, BTC etc.
Crypocurrency exchange services
To exchange any other cryptocurreny with Zcash, you can make use of any of the following services:
Best exchanges for Zcash
The use of the genuine cryptocurrency exchange site is one of the best ways of exchanging to Zcash. If you are very familiar with the crypto trading techniques and processes, then you will agree that the ideal way to exchange to Zcash is by the use of cryptocurrency exchanges.
Such exchanges are as follows: