Zcash Hits 1-Day Trading Volume of $294.05 Million (ZEC)

Zcash (CURRENCY:ZEC) traded 0.8% higher against the dollar during the 1-day period ending at 18:00 PM Eastern on June 11th. Zcash has a market capitalization of $540.05 million and approximately $294.05 million worth of Zcash was traded on exchanges in the last day. One Zcash coin can now be bought for $80.20 or 0.01012386 BTC on major cryptocurrency exchanges including Allcoin, Poloniex, Gate.io and Ovis. Over the last seven days, Zcash has traded 2.3% higher against the dollar.

Here is how related cryptocurrencies have performed over the last day:

  • Bitcoin Gold (BTG) traded 0.7% lower against the dollar and now trades at $25.57 or 0.00322771 BTC.
  • Horizen (ZEN) traded down 1.9% against the dollar and now trades at $10.31 or 0.00130167 BTC.
  • ZClassic (ZCL) traded 1.8% lower against the dollar and now trades at $1.65 or 0.00020841 BTC.
  • CrypticCoin (CRYP) traded up 8% against the dollar and now trades at $0.0009 or 0.00000011 BTC.
  • Bitcoin Interest (BCI) traded 0.7% lower against the dollar and now trades at $0.0968 or 0.00001222 BTC.
  • Bitcoin Private (BTCP) traded 14.3% lower against the dollar and now trades at $0.27 or 0.00003383 BTC.
  • BitcoinZ (BTCZ) traded up 3.8% against the dollar and now trades at $0.0002 or 0.00000003 BTC.
  • Zero (ZER) traded up 8.9% against the dollar and now trades at $0.0878 or 0.00001108 BTC.
  • Hush (HUSH) traded 1.9% higher against the dollar and now trades at $0.0623 or 0.00000787 BTC.
  • Bitgem (BTG) traded flat against the dollar and now trades at $2.79 or 0.00034116 BTC.

Zcash Profile

ZEC is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. Its launch date was October 28th, 2016. Zcash’s total supply is 6,733,619 coins. Zcash’s official Twitter account is @zcashco and its Facebook page is accessible here. Zcash’s official website is z.cash. Zcash’s official message board is forum.z.cash.

According to CryptoCompare, “zk-SNARKsThe BasicZcash is the first widespread application of zk-SNARKs, a novel form of zero-knowledge cryptography. The strong privacy guarantee of Zcash is derived from the fact that shielded transactions in Zcash can be fully encrypted on the blockchain, yet still be verified as valid under the network’s consensus rules by using zk-SNARK proofs. The acronym zk-SNARK stands for “Zero-Knowledge Succinct Non-Interactive Argument of Knowledge,” and refers to a proof construction where one can prove possession of certain information, e.g. a secret key, without revealing that information, and without any interaction between the prover and verifier. “Zero-knowledge” proofs allow one party (the prover) to prove to another (the verifier) that a statement is true, without revealing any information beyond the validity of the statement itself. For example, given the hash of a random number, the prover could convince the verifier that there indeed exists a number with this hash value, without revealing what it is.   Application to ZCASHIn order to have zero-knowledge privacy in Zcash, the function determining the validity of a transaction according to the network’s consensus rules must return the answer of whether the transaction is valid or not, without revealing any of the information it performed the calculations on. This is done by encoding some of the network's consensus rules in zk-SNARKs. At a high level, zk-SNARKs work by first turning what you want to prove into an equivalent form about knowing a solution to some algebraic equations. In the following section, we give a brief overview of how the rules for determining a valid transaction get transformed into equations that can then be evaluated on a candidate solution without revealing any sensitive information to the parties verifying the equations. “

Buying and Selling Zcash

Zcash can be traded on these cryptocurrency exchanges: Waves Decentralized Exchange, OTCBTC, Trade Satoshi, BCEX, Bitlish, Bitinka, Gemini, Crex24, Instant Bitex, Binance, GOPAX, Braziliex, BX Thailand, Allcoin, Gate.io, Tux Exchange, Coinut, Huobi, Altcoin Trader, Bitfinex, Cryptohub, Graviex, OKEx, Cryptomate, LiteBit.eu, CoinEx, CoinExchange, Bithumb, BitBay, Sistemkoin, Ovis, BiteBTC, Kuna, Liquid, CEX.IO, Coinrail, Mercatox, Poloniex, Bittrex, Exmo, BTC-Alpha, BigONE, HitBTC, BTC Trade UA, C2CX, Coinroom, YoBit, WEX, LBank, Bit-Z, Cryptopia, LocalTrade, Upbit and Kraken. It is usually not presently possible to buy alternative cryptocurrencies such as Zcash directly using U.S. dollars. Investors seeking to acquire Zcash should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Gemini, GDAX or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Zcash using one of the exchanges listed above.

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