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Zcash

ZEC

4.5

Price
$55.29
10/7/2022, 2:54:29 AM
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Market

Market stats

Market cap

$852.9M

Volume (24h)

$35.7M

Circulating supply

15.4M ZEC

Typical hold time

8 days

Popularity

#40

All time high

$5,941.80

Price change (1h)

-0.18%

Price change (24h)

-3.27%

Price change (7d)

-1.67%

Trading activity

72% Buy0% Buy
28% Sell100% Sell

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Zcash is on the decline this week.

The price of Zcash has fallen by 1.67% in the past 7 days. The price declined by 3.27% in the last 24 hours. In just the past hour, the price shrunk by 0.18%. The current price is $55.29 per ZEC. Zcash is 99.07% below the all time high of $5,941.80.

The current circulating supply is 15,423,793.75 ZEC.

About

Zcash is a cryptocurrency that offers two types of addresses: transparent addresses that are publicly visible on the Zcash blockchain and shielded addresses that are more private. Coinbase customers can receive Zcash from both transparent and shielded addresses and send Zcash to transparent addresses. Sending to shielded addresses is not supported at this time.

What is Zcash (ZEC)?

Zcash (ZEC) is a privacy-protecting, decentralized cryptocurrency. According to the website, Zcash was created as a fork of the Bitcoin codebaseto enable privacy. The Zcash protocol uses zk-SNARKs, zero-knowledge cryptography that ensures the transaction verification doesn’t reveal sensitive information of the transaction. Every transaction gets tracked and managed on a public blockchain, but these public transactions do not reveal user identities. Zcash aims to offer its users the right to privacy while enjoying the benefits of a permissionless digital currency.

Zcash facilitates optional anonymity by offering two types of addresses: transparent address (T-addresses) and private addresses (Z-addresses). Transactions between T-addresses are publicly viewable on the Zcash blockchain. However, Z-addresses are shielded addresses and therefore are not visible. Transactions between shielded addresses do not reveal the transaction address, the amount transferred, or any other sensitive information. T-addresses and Z-addresses are interoperable, and funds can be transferred between the two.

ZEC is the native token of the Zcash platform. The token can be mined using the Equihash proof-of-work algorithm. Proof of work is a transaction verification mechanism that uses hardware’s processing power to produce a new block on the chain. The ZEC token gets used by Z-addresses and T-addresses for transactions. Moreover, the ZEC token is the platform’s cryptocurrency and can be bought on many exchanges like Coinbase.

Shielded transactions of Z-addresses use the zero-knowledge succinct non-interactive argument of knowledge (zk-SNARK) cryptography protocol. There are two parties in the zero-knowledge proof: the prover and the verifier. The protocol states that the prover can prove to the verifier that they possess specific knowledge without actually disclosing what the knowledge is. Therefore, the protocol uses a secret key to confirm the possession of information. For each shielded transaction, the sender uses their key to generate proof that their inputs are valid. Miners check the shielded transaction by verifying the key. This way, Zcash requires more work up front, but it simplifies verifying. 

History of Zcash (ZEC)

Zcash was earlier called the ZeroCoin protocol. The Zcash project got forked from Bitcoin on 28 October 2016. The founder of Zcash is Zooko Wilcox. Wilcox has spent more than 20 years in cryptography and information security and has contributed to projects like DigiCash, Mojo Nation, ZRTP, and many more.

The first whitepaper of ZeroCoin was published on 18 May 2014. An updated whitepaper for Zcash was released on 30 September 2021. 

How Are New Zcash (ZEC) Tokens Created?

Zcash uses a proof-of-work mining algorithm. Miners verify transactions and also secure the network. Zcash has a 2.5-minute block average and offers a block reward that is four times that of Bitcoin. Anyone can join the mining pools that provide steady ZEC rewards based on the hash rate contributed. There are currently eleven active Zcash mining pools with the hash rate ranging from 4 GSols/s to 8 GSols/s. An investor gets the option to choose the pool based on payout method, geographic location, ping time, pool fee, etc. Zcash supports transaction expiration to minimize the impact of a non-mined transaction. A transaction expires and funds remain unencumbered if it is not mined after 50 minutes or 40 blocks.

How Many Zcash (ZEC) Tokens Are There?

The ZEC token has a total supply of 21 million. 

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Social

Zcash on social media.

Zcash was mentioned in 433 out of 1,730,343 social media posts on Twitter and Reddit on Oct 05, 2022. 358 unique individuals are talking about Zcash and it is ranked #237 in most mentions and activity from collected posts.

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Key indicators

Contributors

358 people

Posts

433 posts

Dominance

0.03%

Volume rank

#237

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FAQ

What is the current price of Zcash?

The price of 1 Zcash currently costs $55.29.

What is the market cap of Zcash?

The current market cap of Zcash is $852.86M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Zcash?

The all-time high of Zcash is $5,941.80. This all-time high is highest price paid for Zcash since it was launched.

What is the 24 hour trading volume of Zcash?

Over the last 24 hours, the trading volume of Zcash is $35.66M.

What other assets are similar to Zcash?

Assets that have a similar market cap to Zcash include Paxos Standard, OKB, KuCoin Token, and many others. To see a full list, see our comparable market cap assets.

How many Zcash are there?

The current circulating supply of Zcash is 15 million.

What is the typical holding time of Zcash?

The median time that Coinbase customers hold Zcash before selling it or sending it to another account or address is 8 days.

What is the relative popularity of Zcash?

Zcash ranks 71 among tradable assets on Coinbase. Popularity is currently based on relative market cap.

What is the current trading activity of Zcash?

Currently, 72% of Coinbase users are buying Zcash. In other words, 72% of Coinbase customers have increased their net position in Zcash over the past 24 hours through trading.

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