Zcash Market Capitalization Reaches $308.41 Million (ZEC)

Zcash (CURRENCY:ZEC) traded down 1.2% against the US dollar during the 1-day period ending at 20:00 PM ET on March 3rd. During the last week, Zcash has traded 0.1% higher against the US dollar. Zcash has a total market cap of $308.41 million and approximately $237.40 million worth of Zcash was traded on exchanges in the last day. One Zcash coin can now be purchased for approximately $50.83 or 0.01288561 BTC on major cryptocurrency exchanges including Kuna, BTC-Alpha, BigONE and Cryptomate.

Here’s how related cryptocurrencies have performed during the last day:

  • Bitcoin Gold (BTG) traded 1.1% lower against the dollar and now trades at $12.61 or 0.00319330 BTC.
  • Horizen (ZEN) traded 0.3% lower against the dollar and now trades at $5.46 or 0.00138157 BTC.
  • Bitcoin Private (BTCP) traded down 8.8% against the dollar and now trades at $0.73 or 0.00018377 BTC.
  • ZClassic (ZCL) traded up 3.6% against the dollar and now trades at $1.06 or 0.00026758 BTC.
  • CrypticCoin (CRYP) traded 8% lower against the dollar and now trades at $0.0018 or 0.00000045 BTC.
  • Bitcoin Interest (BCI) traded 4.3% lower against the dollar and now trades at $0.12 or 0.00003109 BTC.
  • BitcoinZ (BTCZ) traded 25.3% higher against the dollar and now trades at $0.0002 or 0.00000005 BTC.
  • Hush (HUSH) traded 0.3% lower against the dollar and now trades at $0.0750 or 0.00001903 BTC.
  • Zero (ZER) traded 0.4% lower against the dollar and now trades at $0.0554 or 0.00001401 BTC.
  • Bitgem (BTG) traded flat against the dollar and now trades at $2.79 or 0.00034116 BTC.

About Zcash

ZEC is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. It launched on October 28th, 2016. Zcash’s total supply is 6,067,744 coins. The official website for Zcash is z.cash. Zcash’s official message board is forum.z.cash. Zcash’s official Twitter account is @zcashco and its Facebook page is accessible here.

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 purchased on these cryptocurrency exchanges: Coinut, Allcoin, CoinEx, Gemini, Gate.io, Waves Decentralized Exchange, Bit-Z, Braziliex, Ovis, Instant Bitex, Kuna, Crex24, Poloniex, Sistemkoin, Coinroom, Coinrail, Trade Satoshi, LBank, YoBit, Kraken, CoinExchange, Cryptopia, BTC-Alpha, BiteBTC, Bitlish, Cryptomate, Bitinka, BigONE, Bitfinex, Huobi, Exmo, BX Thailand, OKEx, Bittrex, GOPAX, LiteBit.eu, Altcoin Trader, Bithumb, C2CX, HitBTC, Upbit, Mercatox, CEX.IO, Graviex, Tux Exchange, Cryptohub, BitBay, OTCBTC, BCEX, WEX, Liquid, BTC Trade UA, LocalTrade and Binance. It is usually not presently possible to purchase alternative cryptocurrencies such as Zcash directly using U.S. dollars. Investors seeking to trade Zcash should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, Coinbase or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Zcash using one of the exchanges listed above.

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