Zcash (ZEC) Hits 1-Day Trading Volume of $120.22 Million

Zcash (CURRENCY:ZEC) traded up 3.2% against the US dollar during the 1 day period ending at 23:00 PM Eastern on October 12th. One Zcash coin can currently be purchased for about $112.39 or 0.01802192 BTC on major cryptocurrency exchanges including Tux Exchange, Poloniex, Bittrex and Ovis. Zcash has a total market capitalization of $562.05 million and $120.22 million worth of Zcash was traded on exchanges in the last day. Over the last week, Zcash has traded 12.3% lower against the US dollar.

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

  • Bitcoin Gold (BTG) traded 4.8% higher against the dollar and now trades at $25.06 or 0.00401854 BTC.
  • Horizen (ZEN) traded up 0% against the dollar and now trades at $13.55 or 0.00217215 BTC.
  • Bitcoin Private (BTCP) traded 4.6% higher against the dollar and now trades at $2.53 or 0.00040529 BTC.
  • Bitcoin Interest (BCI) traded down 0.2% against the dollar and now trades at $0.93 or 0.00014939 BTC.
  • ZClassic (ZCL) traded down 0.2% against the dollar and now trades at $3.17 or 0.00050857 BTC.
  • BitcoinZ (BTCZ) traded down 2.6% against the dollar and now trades at $0.0005 or 0.00000009 BTC.
  • Zero (ZER) traded 1.4% higher against the dollar and now trades at $0.14 or 0.00002296 BTC.
  • Hush (HUSH) traded 10.5% higher against the dollar and now trades at $0.0969 or 0.00001554 BTC.
  • Bitgem (BTG) traded flat against the dollar and now trades at $2.79 or 0.00034116 BTC.
  • VoteCoin (VOT) traded 4.5% higher against the dollar and now trades at $0.0034 or 0.00000055 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 5,000,669 coins. Zcash’s official Twitter account is @zcashco and its Facebook page is accessible here. The official message board for Zcash is forum.z.cash. Zcash’s official website is 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: BiteBTC, Huobi, Bit-Z, Sistemkoin, Bitinka, BitBay, BX Thailand, Bitlish, Kuna, OKEx, Waves Decentralized Exchange, C2CX, Upbit, Cryptohub, WEX, Bitfinex, BigONE, Tux Exchange, Coinroom, Trade Satoshi, LocalTrade, LBank, Crex24, Bittrex, Mercatox, Coinrail, CoinEx, Liquid, YoBit, OTCBTC, LiteBit.eu, BTC-Alpha, Ovis, Gemini, Binance, Kraken, Braziliex, Poloniex, Exmo, BTC Trade UA, Altcoin Trader, Allcoin, Bithumb, Cryptopia, HitBTC, Instant Bitex, CoinExchange, Graviex, Coinut, BCEX, CEX.IO, Gate.io, GOPAX and Cryptomate. 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 Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as GDAX, Coinbase or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Zcash using one of the aforementioned exchanges.

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