It is the era of digital currency and online markets. Crypto makers have left no stone unturned in developing new digital currencies every now and then. In such a competitive world of cryptos, very few currencies like Bitcoin, Dash, Dogecoin and Ethereum have stamped their presence. Zcash is one of those cryptos that has witnessed a boom in the crypto world. Zcash to Bitcoin exchange can be carried out by comparing various exchange rates online.
Read on to find five interesting facts about Zcash.
Zcash is equipped with better privacy
Zcash is a digital currency which uses cryptography to enhance security and privacy. Initially, it was termed as Zerocash currency but later was named as Zcash in 2016. Zcash also uses a public ledger for receiving payments through a blockchain just like leading cryptos Bitcoins, Dogecoins, Ethreum and Dash. But Zcash has an innovative system wherein if the member wants their transaction to be private, then such transactions can be completely privatised by adopting zk-SNARKS. It is zero-knowledge cryptography that hides the amount and the recipients of the protected transactions in Zcash.
Many cryptos make promises to revolutionise the world with their unlimited supply of coins in the future. But often fail to live up to their promises due to weak white paper and lethal governance. Zcash is focused on its views and hence has a limited supply of coins just like Bitcoins. The maximum supply of Zcash coins is capped at 21 million units. It has also been decided by its founders that the 21 million Zcash coins will be distributed over 131 years time. Such precise rules make Zcash more focused than other cryptos.
The backbone of Zcash is its balanced team with scientists, engineers, cryptographers and advisors. Zcash is a brainchild of Zookoo Wilcox. Christina Garman and Alexandro Chiesa are amongst the scientists in the team of Zcash. Roger Ver and Gary Silvet who have rendered support in formulating Bitcoin are part of Zcash team. Such a talented team has managed to get Zcash to top 25 crypto ranking according to Live Zcash price in leading exchanges.
Zcash is not a community but a company
There were many turbulences which Zcash had to face initially as it was not an open source network. But the good thing is that Zcash as a company will work hard to make profits for its investors which will indeed be beneficial for the ones who have mined Zcash coins. So, the investors who have eagerly invested in buying or mining Zcash will be benefited if Zcash performs well. As a company with investors, Zcash will always be competent to handle the crunch when there is more need for investment. Crypto enthusiasts who foresee the potential growth of Zcash can buy Zcash with credit cards, debit cards or for an exchange of Bitcoin or Ethereum.Most of the leading crypto trading platform facilitate this.
Unique formula to reward the founders
The most interesting fact about Zcash cryptocurrency is that there is a unique agenda amidst the founders of the company called founders reward. According to the founders reward until the year 2020 whatever the number of Zcash coins are mined, out of which 20% will be distributed amongst the founders of Zcash. 10% out of this founders reward will be donated to a trust owned by Zcash called Zcash foundation. Zcash foundation is launched with a noble perspective to construct internet payment and privacy infrastructure for public good.