Zcash (CURRENCY:ZEC) traded up 1.7% against the US dollar during the twenty-four hour period ending at 0:00 AM E.T. on August 15th. Zcash has a total market capitalization of $363.42 million and $139.52 million worth of Zcash was traded on exchanges in the last 24 hours. One Zcash coin can currently be bought for about $50.47 or 0.00490814 BTC on major exchanges including Bit-Z, CoinEx, CEX.IO and Huobi. During the last week, Zcash has traded 18% lower against the US dollar.
Here is how related cryptocurrencies have performed during the last 24 hours:
- Bitcoin Gold (BTG) traded down 1.7% against the dollar and now trades at $13.55 or 0.00131754 BTC.
- Horizen (ZEN) traded up 2.8% against the dollar and now trades at $5.05 or 0.00049125 BTC.
- ZClassic (ZCL) traded up 15.5% against the dollar and now trades at $0.28 or 0.00002765 BTC.
- CrypticCoin (CRYP) traded 4.6% higher against the dollar and now trades at $0.0007 or 0.00000007 BTC.
- Bitcoin Private (BTCP) traded 0.2% higher against the dollar and now trades at $0.25 or 0.00002419 BTC.
- Bitcoin Interest (BCI) traded 12.2% higher against the dollar and now trades at $0.0640 or 0.00000623 BTC.
- BitcoinZ (BTCZ) traded down 1.7% against the dollar and now trades at $0.0002 or 0.00000002 BTC.
- Zero (ZER) traded 4.7% higher against the dollar and now trades at $0.0599 or 0.00000583 BTC.
- Bitgem (BTG) traded flat against the dollar and now trades at $2.79 or 0.00034116 BTC.
- VoteCoin (VOT) traded 21% higher against the dollar and now trades at $0.0021 or 0.00000021 BTC.
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 bought or sold on the following cryptocurrency exchanges: Bithumb, BiteBTC, Ovis, Sistemkoin, Exmo, Upbit, OKEx, Bitfinex, Bittrex, Binance, Kuna, Mercatox, HitBTC, Trade Satoshi, Bitlish, Instant Bitex, Coinroom, CoinEx, Gemini, OTCBTC, Cryptomate, Cryptopia, Crex24, GOPAX, Tux Exchange, LocalTrade, Graviex, Poloniex, Cryptohub, Waves Decentralized Exchange, BitBay, LiteBit.eu, Bit-Z, Bitinka, Coinrail, CEX.IO, Huobi, Coinut, BCEX, WEX, CoinExchange, Kraken, YoBit, Altcoin Trader, Allcoin, BTC-Alpha, BTC Trade UA, Liquid, Gate.io, BigONE, LBank, C2CX, BX Thailand and Braziliex. It is usually not presently possible to buy alternative cryptocurrencies such as Zcash directly using US dollars. Investors seeking to trade Zcash should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, Coinbase or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Zcash using one of the aforementioned exchanges.
Receive News & Updates for Zcash Daily - Enter your email address below to receive a concise daily summary of the latest news and updates for Zcash and related cryptocurrencies with MarketBeat.com's FREE CryptoBeat newsletter.