Zcash Trading Down 5.6% Over Last Week (CRYPTO:ZEC)

Zcash (CURRENCY:ZEC) traded down 6.5% against the US dollar during the 1 day period ending at 1:00 AM ET on September 26th. Zcash has a total market cap of $581.19 million and $190.97 million worth of Zcash was traded on exchanges in the last 24 hours. During the last week, Zcash has traded 5.6% lower against the US dollar. One Zcash coin can now be purchased for approximately $116.54 or 0.01852544 BTC on cryptocurrency exchanges including Allcoin, Binance, YoBit and LBank.

Here is how similar cryptocurrencies have performed during the last 24 hours:

  • Bitcoin Gold (BTG) traded down 6.7% against the dollar and now trades at $24.45 or 0.00388702 BTC.
  • Horizen (ZEN) traded 5.3% lower against the dollar and now trades at $14.87 or 0.00236431 BTC.
  • Bitcoin Private (BTCP) traded down 2.5% against the dollar and now trades at $2.65 or 0.00042056 BTC.
  • Bitcoin Interest (BCI) traded 0.5% higher against the dollar and now trades at $1.06 or 0.00016809 BTC.
  • ZClassic (ZCL) traded down 7.3% against the dollar and now trades at $3.26 or 0.00051846 BTC.
  • BitcoinZ (BTCZ) traded 4.3% lower against the dollar and now trades at $0.0006 or 0.00000009 BTC.
  • Zero (ZER) traded down 8.6% against the dollar and now trades at $0.15 or 0.00002311 BTC.
  • Hush (HUSH) traded 11.6% higher against the dollar and now trades at $0.11 or 0.00001689 BTC.
  • Bitgem (BTG) traded flat against the dollar and now trades at $2.79 or 0.00034116 BTC.
  • VoteCoin (VOT) traded up 1% against the dollar and now trades at $0.0037 or 0.00000060 BTC.

About Zcash

Zcash is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. Its genesis date was October 28th, 2016. Zcash’s total supply is 4,986,981 coins. The official website for Zcash is z.cash. Zcash’s official message board is forum.z.cash. Zcash’s official Twitter account is @zcashco and its Facebook page is accessible here.

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 purchased on the following cryptocurrency exchanges: LocalTrade, Coinrail, Bittrex, Waves Decentralized Exchange, Liquid, Kraken, Altcoin Trader, OKEx, OTCBTC, Bithumb, Huobi, HitBTC, Bitfinex, GOPAX, Gate.io, BCEX, Coinut, YoBit, Gemini, C2CX, Upbit, Bit-Z, Cryptopia, BTC-Alpha, Crex24, BTC Trade UA, Tux Exchange, Kuna, Bitinka, CoinEx, Allcoin, WEX, BX Thailand, Trade Satoshi, BigONE, Mercatox, CoinExchange, Coinroom, BiteBTC, Graviex, Instant Bitex, Sistemkoin, LiteBit.eu, Cryptohub, Poloniex, Cryptomate, Braziliex, Bitlish, BitBay, CEX.IO, Binance, Ovis, LBank and Exmo. It is usually not 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 Changelly, Coinbase or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Zcash using one of the exchanges listed above.

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