Zcash (CURRENCY:ZEC) traded down 1% against the U.S. dollar during the 24-hour period ending at 7:00 AM ET on May 25th. One Zcash coin can now be purchased for $73.32 or 0.00905940 BTC on major cryptocurrency exchanges including Kraken, CoinExchange, OTCBTC and Cryptopia. Over the last seven days, Zcash has traded 1.4% higher against the U.S. dollar. Zcash has a market cap of $484.54 million and approximately $299.82 million worth of Zcash was traded on exchanges in the last day.
Here is how related cryptocurrencies have performed over the last day:
- Bitcoin Gold (BTG) traded down 0.1% against the dollar and now trades at $24.11 or 0.00297953 BTC.
- Horizen (ZEN) traded 2.6% lower against the dollar and now trades at $11.42 or 0.00141138 BTC.
- ZClassic (ZCL) traded down 6.9% against the dollar and now trades at $1.72 or 0.00021323 BTC.
- CrypticCoin (CRYP) traded 2.4% higher against the dollar and now trades at $0.0016 or 0.00000019 BTC.
- Bitcoin Private (BTCP) traded up 12% against the dollar and now trades at $0.37 or 0.00004536 BTC.
- Bitcoin Interest (BCI) traded 7.9% higher against the dollar and now trades at $0.0891 or 0.00001100 BTC.
- BitcoinZ (BTCZ) traded 4.2% higher against the dollar and now trades at $0.0002 or 0.00000002 BTC.
- Zero (ZER) traded 4.9% higher against the dollar and now trades at $0.0898 or 0.00001110 BTC.
- Hush (HUSH) traded 17.2% higher against the dollar and now trades at $0.0787 or 0.00000973 BTC.
- Bitgem (BTG) traded flat against the dollar and now trades at $2.79 or 0.00034116 BTC.
Zcash Coin Profile
ZEC 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 6,608,531 coins. The official website for Zcash is z.cash. Zcash’s official Twitter account is @zcashco and its Facebook page is accessible here. 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: Cryptohub, Kraken, OKEx, Altcoin Trader, Coinroom, Bit-Z, Cryptomate, LocalTrade, CoinExchange, Coinrail, Allcoin, C2CX, BTC Trade UA, Exmo, Waves Decentralized Exchange, YoBit, Huobi, Graviex, Bitinka, Sistemkoin, Mercatox, BTC-Alpha, CEX.IO, Ovis, BigONE, BitBay, HitBTC, LiteBit.eu, Instant Bitex, Upbit, Bitlish, Crex24, Bittrex, Bithumb, GOPAX, BX Thailand, Tux Exchange, Binance, Liquid, Cryptopia, BiteBTC, Bitfinex, Gemini, Trade Satoshi, CoinEx, Coinut, Kuna, BCEX, OTCBTC, Poloniex, Gate.io, LBank, WEX and Braziliex. It is usually not currently possible to buy alternative cryptocurrencies such as Zcash directly using U.S. dollars. Investors seeking to trade Zcash should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, GDAX or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Zcash using one of the exchanges listed above.
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