Zcash Reaches Market Cap of $366.97 Million (ZEC)

Zcash (CURRENCY:ZEC) traded 3.2% higher against the US dollar during the twenty-four hour period ending at 22:00 PM ET on August 17th. Zcash has a market capitalization of $366.97 million and $86.65 million worth of Zcash was traded on exchanges in the last 24 hours. One Zcash coin can now be bought for about $50.86 or 0.00498791 BTC on cryptocurrency exchanges including Crex24, Cryptomate, BX Thailand and Upbit. Over the last week, Zcash has traded down 11.5% against the US dollar.

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

  • Bitcoin Gold (BTG) traded 0.8% lower against the dollar and now trades at $13.46 or 0.00131984 BTC.
  • Horizen (ZEN) traded 2.2% higher against the dollar and now trades at $5.31 or 0.00052065 BTC.
  • ZClassic (ZCL) traded 10% higher against the dollar and now trades at $0.31 or 0.00003011 BTC.
  • CrypticCoin (CRYP) traded up 8% against the dollar and now trades at $0.0007 or 0.00000007 BTC.
  • Bitcoin Private (BTCP) traded up 18.2% against the dollar and now trades at $0.26 or 0.00002594 BTC.
  • Bitcoin Interest (BCI) traded down 4.8% against the dollar and now trades at $0.0601 or 0.00000589 BTC.
  • BitcoinZ (BTCZ) traded 23% higher against the dollar and now trades at $0.0002 or 0.00000002 BTC.
  • Zero (ZER) traded 10.1% lower against the dollar and now trades at $0.0512 or 0.00000502 BTC.
  • Hush (HUSH) traded 5.9% lower against the dollar and now trades at $0.0381 or 0.00000374 BTC.
  • VoteCoin (VOT) traded 2.1% lower against the dollar and now trades at $0.0029 or 0.00000028 BTC.

About Zcash

Zcash (ZEC) is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. Its launch date was October 28th, 2016. Zcash’s total supply is 7,214,906 coins. The official website for Zcash is z.cash. Zcash’s official Twitter account is @zcashco and its Facebook page is accessible here. Zcash’s official message board is forum.z.cash.

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

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