In my last article, I said I would task myself to learning a little on every crytpo, both existing and new. Please your comments are highly recommended.
I'm going to explain what I've learnt about zcash, as simple as I possibly can.
1. Zcash formerly known as zerocoin then zerocash and finally zcash . It is completely decentralized and has been in existence for over 4 years, founded by zoology wilcox-o'hearn, October 2016.
2. Zcash started as a fork of Bitcoin back in 2016- a FORK is when a blockchain is copied from the original code, but then changes are made and it is improved.
3. Zcash seeks to maintain the same structure as bitcoin but with privacy and fungibility as its standards.
" Zcash permits organizations, buyers, and new application to control who get the chance to see the points of interest of their exchanges, even while utilizing a worldwide, authorization less blockchain - zooko Wilcox "
4. The main technology that makes zcash a good blockchain is it's "zero- knowledge proof"(ZKP) protocol. This allows transactions to be done anonymously with only the date and time that is displayed.
This image explains that in zcash you have the option of doing a normal transparent. transaction OR you can do a shielded private transaction.
5. Anyone can mine zcash, because you can use either CPU or GPU to mine zcash. ASIC hardware, a very expensive hardware does not work with zcash.
