Zcash (ZEC) traded up 0.8% against the U.S. dollar during the 1-day period ending at 8:00 AM Eastern on May 28th. Zcash has a market capitalization of $1.27 billion and $111.66 million worth of Zcash was traded on exchanges in the last 24 hours. During the last seven days, Zcash has traded 14.3% lower against the U.S. dollar. One Zcash coin can currently be purchased for about $87.43 or 0.00302552 BTC on popular exchanges.
Here is how similar cryptocurrencies have performed during the last 24 hours:
- Bitcoin Gold (BTG) traded down 3.6% against the dollar and now trades at $21.20 or 0.00073372 BTC.
- Horizen (ZEN) traded 0.4% lower against the dollar and now trades at $19.25 or 0.00066622 BTC.
- Pirate Chain (ARRR) traded up 2.4% against the dollar and now trades at $0.63 or 0.00002167 BTC.
- Alchemy Pay (ACH) traded down 4.6% against the dollar and now trades at $0.0170 or 0.00000059 BTC.
- Bitcoin Private (BTCP) traded 78.8% higher against the dollar and now trades at $1.27 or 0.00004384 BTC.
- BitcoinZ (BTCZ) traded down 0.7% against the dollar and now trades at $0.0002 or 0.00000001 BTC.
- Hush (HUSH) traded down 4.5% against the dollar and now trades at $0.0763 or 0.00000264 BTC.
- Bit Hotel (BTH) traded 5.4% lower against the dollar and now trades at $0.0188 or 0.00000065 BTC.
- ZClassic (ZCL) traded 0.8% higher against the dollar and now trades at $0.0456 or 0.00000158 BTC.
- Zero (ZER) traded 51.3% higher against the dollar and now trades at $0.0240 or 0.00000083 BTC.
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. “
Zcash Coin Trading
It is usually not possible to purchase alternative cryptocurrencies such as Zcash directly using US dollars. Investors seeking to trade Zcash should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as Changelly, Coinbase or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Zcash using one of the aforementioned exchanges.
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