What’s the deal with $ZCASH?
If you are involved in the crypto currency space and haven’t heard of Zcash before, my question is what planet have you been living on? Zcash came onto the scene late 2016 and had a lot of hype as it toted to harness the power of zero knowledge proofs. Zero knowledge proof is a term that came onto the scene quite a bit earlier, I recall first hearing about it circa 2013. People started saying it was the only way to truly have anonymous and private transactions, however, it was said to be unrealistic as how could a public ledger system verify something it can’t trace? What is zero knowledge proof? Zero knowledge proof is basically like a lock box at a bank but only you have a key, think about it like. Beyond that the bank would not know who you are, it would be like you going into a bank deposit box room in a hoody with sunglasses on and accessing a private deposit box and the bank doesn’t even have a key. That is the best way to think of zero knowledge proofs. So the problem is this, let’s say the bank are the miners that facilitate the public ledger. They can’t access to say “hey yeah okay address A sent X amount to address B on this date and the new balances reflect X amounts. Zcash set out to solve the problem and released their coin last year in hopes of doing so. though to have a solid development team it was quickly picked up by some of the bigger exchanges like Bitfinex and Poloniex. It’s up quite a bit from opening but still only toting a market cap of just over 500,000,000 which is no slouch but still quite under valued perhaps for the only tangible coin available with zero knowledge proofs. Furthermore the coin supply is limited to just over 2,000,000 coins meaning if it gets popular.. There will be a fight to own even just one perhaps. To good to be true? Unfortunately, it is in parts. At least from the perspective of a day trader as it totes one of the highest inflation rates among all current crypto currency tokens. At near a staggering 900% inflation rate, it will decrease in value at a higher, yet still unknown, rate than most coins. However we still think it’s a bargain at it’s current price of $275 and you may not want to sleep on this one!
For more info on Zcash visit the coins home website at https://z.cash/