Zcash (CURRENCY:ZEC) traded up 7% against the dollar during the twenty-four hour period ending at 9:00 AM Eastern on January 14th. Over the last seven days, Zcash has traded 59.7% higher against the dollar. Zcash has a market capitalization of $1.26 billion and approximately $2.24 billion worth of Zcash was traded on exchanges in the last day. One Zcash coin can currently be bought for about $115.27 or 0.00296983 BTC on major exchanges.
Here is how other cryptocurrencies have performed over the last day:
- Horizen (ZEN) traded up 4.1% against the dollar and now trades at $26.09 or 0.00067227 BTC.
- Bitcoin Gold (BTG) traded 4.4% higher against the dollar and now trades at $13.70 or 0.00035307 BTC.
- Pirate Chain (ARRR) traded 9.8% higher against the dollar and now trades at $0.17 or 0.00000446 BTC.
- Alchemy Pay (ACH) traded 6.1% higher against the dollar and now trades at $0.0032 or 0.00000008 BTC.
- ZClassic (ZCL) traded up 10.7% against the dollar and now trades at $0.22 or 0.00000559 BTC.
- Bitcoin Private (BTCP) traded 11.4% higher against the dollar and now trades at $0.25 or 0.00000636 BTC.
- Zero (ZER) traded 7.7% higher against the dollar and now trades at $0.11 or 0.00000273 BTC.
- BitcoinZ (BTCZ) traded 2.2% higher against the dollar and now trades at $0.0001 or 0.00000000 BTC.
- Hush (HUSH) traded 7.1% higher against the dollar and now trades at $0.0243 or 0.00000063 BTC.
- VoteCoin (VOT) traded up 13% against the dollar and now trades at $0.0004 or 0.00000001 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: . 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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