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Zcash Explained

Everything You Need to Know About Its History and Technology

What Is Zcash?

Zcash is a digital currency that was built on the original Bitcoin codebase. Zcash considers itself as a fair and open currency. Anyone can spend, send, or receive Zcash, and everyone has equal access regardless of demographics.

It was founded by cryptographers and scientists in 2016. This cryptocurrency stands out by offering complete anonymity to investors. Transactions are shielded, and your information is protected.

Zcash differs from other cryptocurrencies because of its shielded transactions, allowing individuals to maintain complete privacy. Zcash is also decentralized across a wide network, making it more secure and accessible.

To send or receive cryptocurrencies you need an address from or to which the transaction is directed. And the privacy for Zcash depends on your address.

There can still be transparent transactions with Zcash, and it all comes down to the address in question. Some addresses start with a “t” — those are transparent addresses and aren’t shielded. Addresses that start with a “z” are shielded. The shielded addresses allow for transactions that help preserve privacy, while transparent addresses operate more similarly to Bitcoin, as they expose addresses and balances.

The groundwork for Zcash was laid several years before the coin became available. In 2013, several scientists from John Hopkins University designed the protocol that would later become Zcash. Several years later in 2015, the Zcash cash company was founded to help bring the protocol to fruition. Company founder and security expert Zooko Wilcox-O’Hearn led the company as it put out the first blocks of Zcash in 2016. The Zcash company subsequently rebranded as the Electric Coin Company in 2019.

Today Zcash is governed by Electric Coin and the Zcash Foundation, a public charity that builds financial privacy infrastructure. Zcash also relies heavily on input from the Zcash community.



Special Features of Zcash

The most important feature that sets Zcash apart from other cryptocurrencies is its privacy feature. Zcash allows for fully shielded transactions, meaning the sender, recipient, and amount are encrypted. This feature is quite a deviation from the transparency that is a central part of many other cryptocurrencies.

Other cryptocurrencies claim to have shielded transactions. But according to Zcash, those transactions can still be traced, while Zcash offers the only truly private cryptocurrency.

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