In this digital ere, a lot of practices that were hitherto done physically are now conducted easily over the internet. For instance, trade was traditionally done on marketplaces which featured characteristic haggling and rowdiness; this is not the case nowadays. The introduction of online stores has made the shopping experience significantly efficient as well as convenient.
Cryptocurrencies are perhaps the biggest invention of modern times. A few years ago, the concept of digital money was inconceivable. Most probably, people would have shrugged off such an idea, as it seemed to far-fetched. The success of Bitcoin would change this perception forever, however. Currently, cryptocurrencies are the talk of town, with everybody wanting to own a piece of this lucrative investment. Of late, the online money has been gaining traction, primarily because of its anonymity, security and immutability.
Virtual currencies rely of cryptographic algorithms for security and defense against potential breaches. These algorithms protect the entire process of transaction by shielding the network and verifying the authenticity of the assets being transferred. Furthermore, they prevent the illicit minting of digital currencies.
Additionally, cryptography eliminates the possibility of fraud or theft of an individual’s currency. As opposed to fiat money which robbers can easily steal; from a person, cryptocurrencies have guaranteed safety thanks to cryptographic encryption. Moreover, virtual currencies are not under the jurisdiction of governments, meaning that their value is not regulated by a central body.
What Is ZeCash?
Despite the hype around cryptocurrencies, only a few have made the cut. A substantial majority still lag behind in terms of market capitalization. Presently, Bitcoin, Litecoin, Ripple and Ethereum are the most notable online currencies. Zecash intends to join this elite group in the near future. The nascent digital currency intends to achieve this status by implementing security (through Proof-of-Stake), ensuring anonymity and fast processing of transactions.
ZeCash Proof-of-Stake Cryptocurrency Digital Solution
This is where the amount of Zecash an investor owns determines the number of blocks they can mint on the Zecash blockchain. It should not be confused with proof-of-work, where investors mine cryptocurrencies for solving complex cryptographic puzzles.
Zecash prefers PoS over PoW due to its efficient power consumption rate. Usually, PoW specialized hardware consume enormous amounts of power, resulting in astronomical electricity bills. Also, PoS is substantially more [profitable since the miners own the currencies being mined, unlike in PoW where this is not always the case.
ZeCash Provides Anonymity With ZeAnon
Typically, cryptocurrencies offer more anonymity as compared to fiat currencies. This is because financial institutors are obligated by the law to keep records of client details. In addition to the archetypal benefits of any digital currency, Zecash will use ZeAnon to achieve anonymity through:
- Stealth transaction
- Transaction remixing
- Ring signatures
ZeCash Fast Processing
Blockchain is renowned for its incredibly fast processing speeds. However, this technology sill plays catch up when pitted against existing payment platforms such as VUSA and PayPal. Nonetheless, plans are underway to upgrade the current infrastructure so that it becomes resistant to forking, eliminating the need for confirmation of each transaction. As a result, blockchain transactions will become substantially faster.
ZeCash ZCH Token ICO Details
The ZCH coin is an ERC20 compliant utility token that acts as the native currency of the Zecash platform. The total supply is capped at 500,000,000 ZCH.
Parameters of the ICO
- Token symbol: ZCH
- Accepted cryptocurrencies: BTC, ETH, LTC, XMR, DASH, BCH
- Hard cap: 500,000,000
- ICO supply: 75%
- Team: 15%
- Institutional: 10%