Zcash (ZEC) Achieves Market Capitalization of $361.37 Million

Zcash (CURRENCY:ZEC) traded down 3.1% against the US dollar during the twenty-four hour period ending at 13:00 PM ET on August 24th. One Zcash coin can now be bought for about $49.76 or 0.00495032 BTC on popular exchanges including CEX.IO, Bittrex, CoinExchange and Coinrail. Zcash has a market capitalization of $361.37 million and approximately $103.94 million worth of Zcash was traded on exchanges in the last 24 hours. In the last week, Zcash has traded 2.2% higher against the US dollar.

Here’s how similar cryptocurrencies have performed in the last 24 hours:

  • Bitcoin Gold (BTG) traded down 2.5% against the dollar and now trades at $13.71 or 0.00136392 BTC.
  • Horizen (ZEN) traded up 0.3% against the dollar and now trades at $5.16 or 0.00051328 BTC.
  • CrypticCoin (CRYP) traded 12.8% higher against the dollar and now trades at $0.0008 or 0.00000008 BTC.
  • ZClassic (ZCL) traded up 4.1% against the dollar and now trades at $0.27 or 0.00002664 BTC.
  • Bitcoin Private (BTCP) traded 5% higher against the dollar and now trades at $0.23 or 0.00002285 BTC.
  • Bitcoin Interest (BCI) traded up 9.3% against the dollar and now trades at $0.0556 or 0.00000553 BTC.
  • BitcoinZ (BTCZ) traded down 25.3% against the dollar and now trades at $0.0001 or 0.00000001 BTC.
  • Zero (ZER) traded 8.7% lower against the dollar and now trades at $0.0521 or 0.00000518 BTC.
  • Hush (HUSH) traded 9.9% lower against the dollar and now trades at $0.0332 or 0.00000330 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. It was first traded on October 28th, 2016. Zcash’s total supply is 7,262,106 coins. The official message board for Zcash is forum.z.cash. Zcash’s official website is 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. “

Zcash Coin Trading

Zcash can be purchased on these cryptocurrency exchanges: Kraken, BTC-Alpha, LBank, BitBay, Liquid, Kuna, Crex24, BX Thailand, Altcoin Trader, YoBit, Gemini, Tux Exchange, Exmo, Cryptomate, Bithumb, Upbit, Graviex, OTCBTC, HitBTC, CoinExchange, Gate.io, Braziliex, Coinroom, Coinut, OKEx, Bit-Z, Bitlish, Coinrail, Cryptohub, Trade Satoshi, CEX.IO, Instant Bitex, BigONE, BTC Trade UA, Poloniex, Allcoin, Bittrex, LocalTrade, LiteBit.eu, Sistemkoin, Binance, Ovis, GOPAX, Waves Decentralized Exchange, BiteBTC, BCEX, Mercatox, Bitfinex, C2CX, CoinEx, Huobi, Bitinka, WEX and Cryptopia. 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 GDAX, 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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