Zcash Trading Down 2.3% This Week (ZEC)

Zcash (CURRENCY:ZEC) traded 2.1% higher against the US dollar during the twenty-four hour period ending at 13:00 PM Eastern on November 4th. One Zcash coin can currently be bought for $119.35 or 0.01874168 BTC on popular exchanges including Coinut, Instant Bitex, Kuna and Allcoin. Zcash has a total market cap of $616.18 million and approximately $100.09 million worth of Zcash was traded on exchanges in the last 24 hours. Over the last seven days, Zcash has traded down 2.3% against the US dollar.

Here is how related cryptocurrencies have performed over the last 24 hours:

  • Bitcoin Gold (BTG) traded 11.3% higher against the dollar and now trades at $30.09 or 0.00472566 BTC.
  • Horizen (ZEN) traded down 1.8% against the dollar and now trades at $13.58 or 0.00213291 BTC.
  • Bitcoin Private (BTCP) traded 1.1% lower against the dollar and now trades at $2.01 or 0.00031506 BTC.
  • ZClassic (ZCL) traded down 4.2% against the dollar and now trades at $2.75 or 0.00043185 BTC.
  • Bitcoin Interest (BCI) traded down 3.1% against the dollar and now trades at $0.64 or 0.00010016 BTC.
  • BitcoinZ (BTCZ) traded down 0.4% against the dollar and now trades at $0.0005 or 0.00000008 BTC.
  • Zero (ZER) traded 1.6% higher against the dollar and now trades at $0.32 or 0.00005081 BTC.
  • Hush (HUSH) traded up 22% against the dollar and now trades at $0.12 or 0.00001910 BTC.
  • Bitgem (BTG) traded flat against the dollar and now trades at $2.79 or 0.00034116 BTC.
  • VoteCoin (VOT) traded 1.8% lower against the dollar and now trades at $0.0037 or 0.00000058 BTC.

About Zcash

ZEC is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. Its genesis date was October 28th, 2016. Zcash’s total supply is 5,162,681 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. “

Zcash Coin Trading

Zcash can be traded on the following cryptocurrency exchanges: Mercatox, Sistemkoin, Altcoin Trader, GOPAX, CEX.IO, LiteBit.eu, Coinut, Cryptohub, Coinrail, Allcoin, BigONE, CoinExchange, Tux Exchange, CoinEx, Binance, Waves Decentralized Exchange, WEX, Bitfinex, Exmo, Braziliex, Bithumb, Gemini, Bit-Z, HitBTC, Trade Satoshi, Ovis, OTCBTC, YoBit, Crex24, Coinroom, Kuna, Graviex, Cryptomate, BCEX, C2CX, BTC-Alpha, Poloniex, Kraken, Bitlish, Bitinka, BiteBTC, LBank, Instant Bitex, Cryptopia, BTC Trade UA, BX Thailand, LocalTrade, Huobi, Upbit, OKEx, BitBay, Liquid, Gate.io and Bittrex. It is usually not currently possible to buy alternative cryptocurrencies such as Zcash directly using US dollars. Investors seeking to trade Zcash should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Coinbase, Changelly or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Zcash using one of the aforementioned exchanges.

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