The mass adoption of cryptocurrencies has started to revolutionize the finance and payments industry. Names like Zcash are all over the market due to their security and privacy prowess.
Zcash, a popular cryptocurrency, is known for using cryptography to give its users an experience with improved privacy. The cryptocurrency is similar to Bitcoin in many aspects; however, it offers better security features than Bitcoin.
Nonetheless, knowing Zcash, exploring its features, and gaining an insight into Zcash Price Prediction are must before making investments in the cryptocurrency.
Things to Know Before Buying Zcash
While Zcash price prediction is the most important aspect to consider before buying Zcash, knowing other details about the cryptocurrency is also essential.
Zcash: an Overview
Zcash has been brought into existence with the sole intent of providing greater privacy to the investors than other big names such as Bitcoin in the industry. Bitcoins can be converted into Zcash without the protocol disclosing the origin of payment. Zcash can also be exchanged back with Bitcoin. The standard privacy and security issues, mainly its fungibility, pushed Zcash to be a highly secure cryptocurrency according to recent crypto news.
History of Zcash
Zcash did not start as a successful venture as it is now. In 2014, the project started but was discontinued in 2016 by Zooko Wilcox (the CEO of Zcash). The project was rebranded in the form of Zerocoin.
The Pioneers of Zero-Knowledge Proof
Zero-knowledge proof is the market norm now, but it was Zcash that pioneered it. With the system, completely encrypting transactions emerged into a possibility. Developing esteemed apps is also possible with the system.
How it Operates
ZEC or Zcash entered the market in 2016 as the first token to be listed on exchanges and genesis block mining together. Investors were also present with the option to buy and sell it with BitMex. Its market is not different from standard cryptocurrencies.
How it is Mined
Zcash mining is the process of verifying transactions on the Zcash blockchain. The procedure involves block creation, and in return, the miners get fresh Zcash. The system uses PoW (proof-of-work) functionality to verify the contributions.
Security Issues
Although Zcash is supposed to be completely secure, there are concerns regarding it. As Peter Todd (BTC developer) mentioned, the ZK-SNARKS system can be broken as hackers may succeed in developing a fake ZK-SNARKS system.
Limited Supply
Zcash has a limit of 21 million tokens with 131 years of issue estimate. It also has an average 2.5-minute block.
Transactions and Price
The transaction process and price volatility for Zcash are similar to any other cryptocurrency.
How to Buy Zcash
The process of buying Zcash is the same as other cryptocurrencies. The users need to find a reputed crypto exchange platform and make the trade. Depending on the platform, the traders may get the option of buying Zcash via fiat currency.
Zcash Price Prediction
Due to its popularity, Zcash is subject to speculations regarding its price.
Edward Snowden (former CIA employee and computer intelligence consultant) deems Zcash as the most interesting Bitcoin alternative in the market. Furthermore, many experts believe that the price of Zcash will continue to rise in the coming years. Zcash price prediction 2025 is expected to reach 1,789 dollars.
Best Platforms to Buy Zcash
Here are the top platforms to buy Zcash:
- Bittrex
- Poloniex
- Shapeshift
- CoinJar
- WazirX
Conclusion
Zcash is one of the prime cryptocurrencies in the world right now. As crypto is getting more popular, it is getting more valuable, so traders are looking for the best platforms to buy Zcash. Investors should gain a thorough knowledge of Zcash before investing it in the cryptocurrency.
