Zcash (ZEC) Trading Down 1.9% This Week

Zcash (CURRENCY:ZEC) traded down 1.1% against the dollar during the 24-hour period ending at 15:00 PM E.T. on October 19th. Zcash has a total market capitalization of $275.93 million and approximately $120.94 million worth of Zcash was traded on exchanges in the last 24 hours. In the last seven days, Zcash has traded down 1.9% against the dollar. One Zcash coin can now be purchased for $36.00 or 0.00448836 BTC on major exchanges including Cryptomate, Exmo, Bitinka and Sistemkoin.

Here’s how related cryptocurrencies have performed in the last 24 hours:

  • Bitcoin Gold (BTG) traded down 2.9% against the dollar and now trades at $7.53 or 0.00093857 BTC.
  • Horizen (ZEN) traded 15.7% higher against the dollar and now trades at $3.82 or 0.00047673 BTC.
  • ZClassic (ZCL) traded 2.6% higher against the dollar and now trades at $0.25 or 0.00003153 BTC.
  • CrypticCoin (CRYP) traded 1.6% higher against the dollar and now trades at $0.0004 or 0.00000005 BTC.
  • Bitcoin Private (BTCP) traded up 31.4% against the dollar and now trades at $0.18 or 0.00002200 BTC.
  • Bitcoin Interest (BCI) traded 0.6% higher against the dollar and now trades at $0.0376 or 0.00000468 BTC.
  • Zero (ZER) traded 2.2% lower against the dollar and now trades at $0.0883 or 0.00001101 BTC.
  • BitcoinZ (BTCZ) traded up 9.3% against the dollar and now trades at $0.0001 or 0.00000001 BTC.
  • Hush (HUSH) traded 5.9% higher against the dollar and now trades at $0.0381 or 0.00000475 BTC.
  • Bitgem (BTG) traded flat against the dollar and now trades at $2.79 or 0.00034116 BTC.

Zcash Coin Profile

Zcash is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. Its launch date was October 28th, 2016. Zcash’s total supply is 7,664,456 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 purchased on the following cryptocurrency exchanges: Sistemkoin, Altcoin Trader, BiteBTC, C2CX, LocalTrade, Ovis, Exmo, OKEx, HitBTC, Bitinka, Poloniex, Tux Exchange, WEX, Allcoin, YoBit, Gate.io, Bitfinex, Coinut, Waves Decentralized Exchange, Instant Bitex, Bitlish, Cryptomate, BCEX, Trade Satoshi, Gemini, Graviex, BX Thailand, LBank, Kuna, Braziliex, Upbit, Crex24, Bittrex, Coinroom, OTCBTC, BTC Trade UA, Coinrail, LiteBit.eu, Huobi, BitBay, BTC-Alpha, CoinExchange, Bithumb, Mercatox, Bit-Z, Cryptopia, Binance, CEX.IO, CoinEx, BigONE, GOPAX, Kraken, Liquid and Cryptohub. It is usually not currently possible to purchase alternative cryptocurrencies such as Zcash directly using U.S. dollars. Investors seeking to trade Zcash should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Changelly, GDAX or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Zcash using one of the exchanges listed above.

Receive News & Updates for Zcash Daily - Enter your email address below to receive a concise daily summary of the latest news and updates for Zcash and related cryptocurrencies with MarketBeat.com's FREE CryptoBeat newsletter.