CMC#	Market Cap (USD)	Volume (24hr)	Circulating Supply	NVTS	Change (7d)	Change (24h)	Savings Per 1K
34	$550,371,000.00	$371,829,000.00	10,120,300 ZEC	--	-7.15%	0.05%	$3,888.37

Background

Zcash originally started as “Zerocoin” in 2014 and was initially suggested as a experimental privacy addition to Bitcoin. Since the Zerocoin protocol was too inefficient for practical use, the founding scientists worked on improvements which resulted in a more efficient protocol called Zerocash. As the team gained more resources, Zerocash became the Zcash Company in order to build that idea into a full-fledged digital currency and to implement the Zerocash protocol. In 2017, a separate entity, the Zcash Foundation was incorporated as a 501(c)3 nonprofit with the mission to be a public charity dedicated to building internet payment and privacy infrastructure for the public good, primarily serving the users of the Zcash protocol and blockchain In 2019, the Zcash Company rebranded to the Electric Coin Company. The major motivation behind Zcash and its strong privacy guarantee was this: that although Bitcoin payments are conducted between pseudonyms, Bitcoin cannot offer strong privacy guarantees, since payment transactions are recorded in a public decentralized ledger, from which much information can be deduced. Zcash sought to solve that problem by unlinking the transaction from the original source, while preserving the option for selective transparency.

Technology

At the core of Zcash technology are zero-knowledge proofs, which allow transaction data to be validated without revealing information about the amount and the parties involved. Specifically, Zcash uses zero-knowledge proofs called “zk-SNARKs” (zero-knowledge succinct non-interactive arguments of knowledge). Zcash addresses are either private (z-addresses) or transparent (t-addresses). Z-addresses start with a “z,” and t-addresses start with a ""t."" The two Zcash address types are interoperable, and funds can be transferred between z-addresses and t-addresses. The owner of an address may choose to disclose z-address and transaction details with trusted third parties through the use of view keys and payment disclosure.

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