Zcash (CRYPTO:ZEC) Price Hits $195.30

Zcash (CURRENCY:ZEC) traded up 0.6% against the US dollar during the 1-day period ending at 2:00 AM ET on June 1st. Zcash has a market capitalization of $810.19 million and approximately $54.53 million worth of Zcash was traded on exchanges in the last day. One Zcash coin can currently be bought for $195.30 or 0.03014980 BTC on major exchanges including Ovis, YoBit, Bit-Z and HitBTC. In the last week, Zcash has traded down 18.2% against the US dollar.

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

  • Bitcoin Gold (BTG) traded 3.7% lower against the dollar and now trades at $32.56 or 0.00502599 BTC.
  • Bitcoin Private (BTCP) traded 3% lower against the dollar and now trades at $15.23 or 0.00235083 BTC.
  • ZenCash (ZEN) traded 6.1% lower against the dollar and now trades at $18.95 or 0.00292534 BTC.
  • Bitcoin Interest (BCI) traded down 14% against the dollar and now trades at $3.52 or 0.00054361 BTC.
  • ZClassic (ZCL) traded down 2.4% against the dollar and now trades at $10.03 or 0.00154890 BTC.
  • BitcoinZ (BTCZ) traded down 2.5% against the dollar and now trades at $0.0016 or 0.00000024 BTC.
  • Hush (HUSH) traded down 6.3% against the dollar and now trades at $0.52 or 0.00007981 BTC.
  • Zero (ZER) traded down 2.2% against the dollar and now trades at $0.34 or 0.00005257 BTC.
  • Bitgem (BTG) traded down 2.2% against the dollar and now trades at $5.05 or 0.00078010 BTC.
  • VoteCoin (VOT) traded 1.4% higher against the dollar and now trades at $0.0088 or 0.00000136 BTC.

Zcash Coin Profile

Zcash is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. It launched on October 28th, 2016. Zcash’s total supply is 4,148,419 coins. The official message board for Zcash is forum.z.cash. The official website for Zcash is z.cash. Zcash’s official Twitter account is @zcashco and its Facebook page is accessible here.

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 these cryptocurrency exchanges: Gate.io, Qryptos, CEX.IO, Crex24, Trade Satoshi, Coinrail, WEX, CoinExchange, C2CX, Bittrex, BCEX, LiteBit.eu, Upbit, Bithumb, Ovis, Bitfinex, BigONE, Exmo, Tux Exchange, OTCBTC, BTC Trade UA, Abucoins, The Rock Trading, Binance, Sistemkoin, Coinroom, Allcoin, Waves Decentralized Exchange, Kraken, Braziliex, GOPAX, Poloniex, HitBTC, Mercatox, Bitlish, Lbank, CoinEx, OKEx, Cryptohub, Cryptomate, BTC-Alpha, Cryptopia, BX Thailand, Huobi, Bit-Z and YoBit. It is usually not presently possible to buy alternative cryptocurrencies such as Zcash directly using U.S. dollars. Investors seeking to trade Zcash should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, Gemini or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Zcash using one of the exchanges listed above.

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