Zcash is an excellent coin that you have to know, I will tell you about the potential for zcash coin to rise or fall in value over the long term and understanding the Zcash technology is very important.
The ZCash blockchain has its own cryptocurrency, which is also called ZEC. In total, there will be 21 million ZEC coins same as total amount of BTC. It is estimated that this number will be achieved in 2032.
Like Bitcoin, no single person or authority controls ZCash - it's decentralized! The blockchain is maintained by miners, who earn ZEC coins in return for the time and power they use. ZCash's main goal is to allow people to send and receive money quickly, cheaply and most important is privately.
how do you send money to someone who lives in another country? You must use a third party such as a bank or Western Union. Whichever option you choose, the cost is usually quite expensive, this is called “Remittances”.
That's not all, sending money to someone in another country also takes days before it reaches its place! These are the reasons that make ZCash such a great alternative.
So, how does ZCash compare to Bitcoin? Well, the system is able to confirm a new block every 2.5 minutes. A new block is similar to a container carrying a wide variety of packages. However, instead of carrying packets a block carries transactions! This is much faster than Bitcoin, which usually takes 10 minutes to confirm a block. Even though the fee depends on the busyness of the blockchain at the time, it won't cost more than 2$!.
Another advantage of ZCash over Bitcoin is the way its miners operate. Although both use a consensus model called “Proof-of-Work” (POW), the ZCash platform is much more fair.
for Miners, ASIC hardware doesn't work with ZCash, which means people can use a CPU or GPU to mine ZCash. Both kits are much cheaper than ASICs, so anyone can mine ZCash!
