Zcash (CURRENCY:ZEC) traded 0.1% higher against the US dollar during the twenty-four hour period ending at 9:00 AM Eastern on May 30th. Over the last week, Zcash has traded down 18.7% against the US dollar. Zcash has a total market cap of $795.36 million and approximately $60.89 million worth of Zcash was traded on exchanges in the last day. One Zcash coin can currently be bought for approximately $192.28 or 0.02978120 BTC on major cryptocurrency exchanges including Cryptopia, Bithumb, Coinrail and CoinEx.
Here is how similar cryptocurrencies have performed over the last day:
- Bitcoin Gold (BTG) traded 1.3% higher against the dollar and now trades at $33.66 or 0.00521324 BTC.
- Bitcoin Private (BTCP) traded 5.7% higher against the dollar and now trades at $14.19 or 0.00219704 BTC.
- Bitcoin Interest (BCI) traded down 5.7% against the dollar and now trades at $3.92 or 0.00060722 BTC.
- ZenCash (ZEN) traded 3.5% higher against the dollar and now trades at $17.53 or 0.00271579 BTC.
- ZClassic (ZCL) traded 3.8% higher against the dollar and now trades at $10.45 or 0.00161806 BTC.
- BitcoinZ (BTCZ) traded 7.5% lower against the dollar and now trades at $0.0016 or 0.00000025 BTC.
- Hush (HUSH) traded down 3.6% against the dollar and now trades at $0.53 or 0.00008132 BTC.
- Zero (ZER) traded up 6% against the dollar and now trades at $0.36 or 0.00005575 BTC.
- Bitgem (BTG) traded down 10.1% against the dollar and now trades at $5.04 or 0.00078002 BTC.
- VoteCoin (VOT) traded down 6.1% against the dollar and now trades at $0.0083 or 0.00000129 BTC.
Zcash 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 4,136,369 coins. The official website for Zcash is z.cash. Zcash’s official Twitter account is @zcashco and its Facebook page is accessible here. The official message board for Zcash 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 bought or sold on the following cryptocurrency exchanges: Abucoins, OTCBTC, Binance, C2CX, CoinExchange, Kraken, Lbank, Exmo, BigONE, HitBTC, BTC Trade UA, Upbit, Bitlish, OKEx, BTC-Alpha, LiteBit.eu, Coinroom, Sistemkoin, Ovis, BCEX, WEX, CoinEx, Bittrex, Cryptomate, GOPAX, Tux Exchange, Huobi, YoBit, Qryptos, Cryptopia, Bit-Z, Bitfinex, Coinrail, The Rock Trading, Cryptohub, Allcoin, Bithumb, Gate.io, Trade Satoshi, Waves Decentralized Exchange, Poloniex, BX Thailand, Braziliex, Mercatox, CEX.IO and Crex24. It is usually not presently 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 Gemini, 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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