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- Zcash was a network that was launched in October, 2016. The main motive of launching this network was to provide more privacy as far as bitcoin is concerned
- Whenever certain private transactions are made, such data is not published to the entire community, instead it is very much protected
- A particular memo can only be viewed by the recipient of a particular transaction, no other person has the ability to access the info of the particular transaction
Zcash was a network that was launched in October, 2016. The main motive of launching this network was to provide more privacy as far as bitcoin is concerned. Zcash network also allows the users to enjoy the benefit of making cash transactions, during which all the relevant information regarding the transactions are kept privately safeguarded. Transactions are completely transparent and all the blockchain community can visit and see the transactions to match. There is nothing hidden, and that also includes proper safety precautions.
Whenever certain private transactions are made, such data is not published to the entire community, instead it is very much protected. Zcash owns a total worth of 21 million, in terms of coins, out of which around 10 percent of the entire value goes to the founder of Zcash, in terms of reward. Thus, this crypto provides two separate modes of payments, one which is completely transparent, with no revelation of information. On the other hand the other form of transaction is the public mode. Both these addresses are however protected from malpractices. The type of program used by Zcash to keep a track and proof of all the transactions, is the Zero-Knowledge proof. Whenever a user enters the field of making a payment a particular memo can be generated.
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A particular memo can only be viewed by the recipient of a particular transaction, no other person has the ability to access the info of the particular transaction. The motto of developing a basis like Zcash was to create a platform for the evolution of the crypto community at large, with time. For the incoming introduction of new forms of updates, and new rules, the users have the freedom to make complete use of this policy to vote and to propose amendments for the same.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
