Zcash (ZEC) Trading Down 10.3% Over Last Week

Zcash (CURRENCY:ZEC) traded down 4.2% against the US dollar during the 1-day period ending at 16:00 PM ET on September 28th. Zcash has a market capitalization of $1.30 billion and approximately $186.14 million worth of Zcash was traded on exchanges in the last day. In the last week, Zcash has traded down 10.3% against the US dollar. One Zcash coin can currently be bought for $102.06 or 0.00245418 BTC on major exchanges.

Here is how related cryptocurrencies have performed in the last day:

  • Bitcoin Gold (BTG) traded down 0.2% against the dollar and now trades at $50.94 or 0.00122484 BTC.
  • Horizen (ZEN) traded 4.6% lower against the dollar and now trades at $63.47 or 0.00152621 BTC.
  • Pirate Chain (ARRR) traded 3.2% lower against the dollar and now trades at $2.12 or 0.00005095 BTC.
  • Alchemy Pay (ACH) traded down 5.8% against the dollar and now trades at $0.0591 or 0.00000142 BTC.
  • Bitcoin Private (BTCP) traded 3% lower against the dollar and now trades at $1.22 or 0.00002946 BTC.
  • BitcoinZ (BTCZ) traded 2% higher against the dollar and now trades at $0.0006 or 0.00000001 BTC.
  • Zero (ZER) traded 3.1% lower against the dollar and now trades at $0.19 or 0.00000459 BTC.
  • ZClassic (ZCL) traded down 4.2% against the dollar and now trades at $0.12 or 0.00000293 BTC.
  • Hush (HUSH) traded down 7% against the dollar and now trades at $0.0624 or 0.00000150 BTC.
  • Bitcoin Interest (BCI) traded down 3.3% against the dollar and now trades at $0.0183 or 0.00000044 BTC.

About Zcash

Zcash is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. Its genesis date was October 28th, 2016. Zcash’s total supply is 12,749,788 coins. Zcash’s official message board is forum.z.cash. Zcash’s official Twitter account is @zcashco and its Facebook page is accessible here. The Reddit community for Zcash is https://reddit.com/r/zec and the currency’s Github account can be viewed here. Zcash’s official website is 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

It is usually not currently possible to buy alternative cryptocurrencies such as Zcash directly using US dollars. Investors seeking to acquire Zcash should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Coinbase, GDAX or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Zcash using one of the exchanges listed above.

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