zcash

Zcash is a cryptocurrency that strives to use cryptography for the enhancement of the privacy of its users and is based on Bitcoin’s codebase. The Zcash network is secured by the proof-of-work SHA-256 hash function. Zcash was launched in 2016 by a cypherpunk, Zooko Wilcox-O’Hearn. That being said, it was first released on October 28th, 2016.   The network employs the zk-SNARK (zero-knowledge proof technology) that allows nodes on the network to verify transactions. This is done while ensuring that no sensitive data about transactions is revealed. The network aims to provide two types of transactions: transparent and shielded. Transparent transactions are those which make public data on the blockchain visible. Those which are shielded are those which do not reveal the data.   Moreover, Zcash transactions can be broadcast through a public blockchain. Unlike other cryptocurrency projects, ZEC transactions do not reveal any information about sent and received addresses.However, this enables the ecosystem to facilitate the trader’s right to privacy. while still enjoying the benefits of permissionless and decentralised digital currency.