Zcash (ZEC) Crypto Report by eToro Features Vitalik Buterin, Snowden, Winklevoss and ADA Leader Quotes
In its latest cryptocurrency report eToro, the social trading platform has chosen Zcash (ZEC) for evaluation. The money coin that has the maximum supply of 21 million ZEC follows the same block reward halving as of BItcoin that comes every four years where after reaching the value of 21 million ZEC will make it effectively deflationary.
Zcash is HTTPS to Bitcoin’s HTTP
The privacy-focused coin differs from other crypto assets in the way that “Zcash represents https to Bitcoin’s http,” states the report. By using zero-knowledge proofs, it keeps the sensitive elements like balances and addresses of a transaction private.
In order to tackle the regulatory compliance issues, Zcash gives its users the choice to send completely private transactions or select to disclose the details of a transaction to certain people by using “viewing keys.”
“This allows for potential regulatory compliance but helps to maintain a higher level of privacy.”
No surprise there, that it is one of the few cryptos approved by the New York State Department of Financial Services for trading.
When it comes to the technology behind Zcash, it is based on the concept of zk-SNARKs, the zero-knowledge succinct non-interactive argument of knowledge. Zcash was the first large-scale implementation of zk-SNARKs and now is being implemented into Ethereum and into JP Morgan’s blockchain platform Quorum.
A Coin with Great Institutional Demand
Currently, Zcash is in “friendly competition” with other privacy coins like Monero and Dash. However, due to being launched by a private company, Zcash has been subject to criticism. But the underlying technology zk-SNARKs has been praised by many experts like Ethereum founder Vitalik Buterin who refers it to as the “single most under-hyped thing in cryptography right now”.
In terms of trading and value, Zcash ranks “third” amongst the actual privacy coins after Monero and Dash, reads the report. However, the daily volume of ZEC is slightly higher than XMR but much smaller then Dash.
“According to Zooko himself, Zcash is a top-5 crypto asset in terms of OTC volume, proving that it is a coin with great institutional demand.”
Coming onto the economics of Zcash, its inflation is at 30 percent annually as the block reward hasn’t been cut by half yet. Moreover, the report further shares that Zcash is the “only major privacy coin” that offers cryptographic privacy and hides information related to the sender, receiver, and the amount transacted.
“Unlike Monero, Zcash truly breaks the link between sender and receiver and does not simply mix the transaction with others. In that sense, it can be argued that Zcash offers more privacy than Monero and especially Dash.”
— Mati Greenspan (@MatiGreenspan) March 17, 2019