Mar 21, 2018 - 10:59:08 AM UTC
Value and price movement of ZEC is different in USD and BTC markets.
Price has moved 12.58% (USD) or 4.75% (BTC) in the last 24h.
Market Cap Rank: 25. of 1000+
Zcash trading volume was 69,174,400 USD in the last 24h with circulating supply of 3,527,019 ZEC.
Zcash (ZEC) Price graph
Zcash (ZEC) price in fiat
About Zcash (ZEC)
Zcash leverages zero-knowledge proof constructions called zk-SNARKs, which allow two users to exchange information without revealing their identities. While the bitcoin blockchain contains records of the participants in a transaction, as well as the amount involved, Zcash’s blockchain shows only that a transaction took place, not who was involved or what the amount was.
Zcash Electric Coin Company raised a total of $2 million in exchange for equity in the company from seventeen investors: Aaron Grieshaber, Branson Bollinger, Maple Ventures (Amir Chetrit and Steven Nerayoff), Brian Cartmell, Vlad Zamfir, Roger Ver, Digital Currency Group, Barry Silbert, Charles Songhurst, Fenbushi, Shapeshift, Erik Voorhees, David Lee Kuo Chuen, Fred Ehrsam, Sebastian Serrano, and Li Xiaolai.
Investors now own 16.4% of the company. According to Zcash, the Founders’ Reward is 10% of the total long-run monetary base of 21 million coins, while the remaining 90% of the Zcash monetary base goes to miners.
The Founder and CEO of Zcash is Zooko Wilcox and he lunched the Zcash blockchain on October 28, 2016.
More recently, the aforementioned developers collaborated with cryptographers from MIT, Tel Aviv University and The Technion (Israel Institute of Technology) to create Zerocash which is an improved protocol that provided payments with greater privacy than offered by Zerocoin and has since been developed into the cryptocurrency Zcash.
Zcash’s supply model is rather similar to that of bitcoin, although it has some key differences. Like bitcoin, the Zcash protocol caps the total number of tokens at 21 million. In addition, its mining reward is cut in half roughly every four years, just like bitcoin.
The major difference that sets Zcash mining apart is that 10% of the 21m units mined using the Zerocash protocol will go to Zcash’s stakeholders, ie: its founders, employees, investors and advisers. This is called the “Founder’s Reward”.
The Zcash community believes that personal privacy is necessary for core human values like dignity, intimacy, and ethics. Without privacy, people will often abstain from doing anything that is legal but also unpopular or politically incorrect.