Zcash Trading Down 4.9% This Week (ZEC)

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Zcash (CURRENCY:ZEC) traded 0.6% lower against the US dollar during the 1-day period ending at 9:00 AM E.T. on March 6th. In the last week, Zcash has traded down 4.9% against the US dollar. One Zcash coin can currently be purchased for approximately $50.21 or 0.01291760 BTC on major cryptocurrency exchanges including Tux Exchange, CEX.IO, CoinEx and BitBay. Zcash has a total market cap of $303.07 million and approximately $176.13 million worth of Zcash was traded on exchanges in the last 24 hours.

Here is how similar cryptocurrencies have performed in the last 24 hours:

  • Bitcoin Gold (BTG) traded 20% higher against the dollar and now trades at $12.64 or 0.00325231 BTC.
  • Horizen (ZEN) traded down 2.1% against the dollar and now trades at $5.44 or 0.00139921 BTC.
  • Bitcoin Private (BTCP) traded 9.6% higher against the dollar and now trades at $1.17 or 0.00030058 BTC.
  • ZClassic (ZCL) traded 2% lower against the dollar and now trades at $1.01 or 0.00025960 BTC.
  • CrypticCoin (CRYP) traded up 7.7% against the dollar and now trades at $0.0020 or 0.00000050 BTC.
  • Bitcoin Interest (BCI) traded 5.5% higher against the dollar and now trades at $0.15 or 0.00003749 BTC.
  • BitcoinZ (BTCZ) traded up 1.3% against the dollar and now trades at $0.0002 or 0.00000005 BTC.
  • Hush (HUSH) traded 3.8% lower against the dollar and now trades at $0.0751 or 0.00001933 BTC.
  • Zero (ZER) traded up 3.6% against the dollar and now trades at $0.0560 or 0.00001442 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 was first traded on October 28th, 2016. Zcash’s total supply is 6,035,931 coins. The official message board for Zcash is forum.z.cash. Zcash’s official Twitter account is @zcashco and its Facebook page is accessible 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

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

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