Zcash

Zcash is a privacy-focused cryptocurrency that was launched in 2016. It is also known as ZEC-USD in trading circles. Zcash aims to provide completely anonymous and untraceable transactions while still maintaining the security of a blockchain-based cryptocurrency.

Zcash uses a new type of cryptography called zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge). This cryptographic system allows users to prove that they possess certain information without revealing that information to others.

Zcash's zk-SNARKs make it possible for transactions to be completely private, unlike Bitcoin and other cryptocurrencies where transactions are publicly visible on the blockchain. With Zcash, transaction data is encrypted and only viewable by the parties directly involved in the transaction.

This sophisticated level of privacy makes Zcash attractive to users who want to keep their financial activities hidden and secure. It is especially popular among people who engage in illicit activities online. However, it is also used by law-abiding citizens who are concerned about their privacy and want to avoid being tracked by third-parties.

Zcash uses a similar mining algorithm to Bitcoin but has a smaller block size and a faster block time. This means that transactions are processed more quickly and with lower transaction fees. The total supply of Zcash is capped at 21 million coins, like Bitcoin.

There are two types of Zcash wallets: transparent and shielded. Transparent wallets function like regular Bitcoin wallets, while shielded wallets allow users to completely hide their transaction data.

Zcash has gained popularity since its launch in 2016 and has been listed on major cryptocurrency exchanges. The price of ZEC-USD has been volatile, hitting an all-time high of $3,000 in late 2017 before dropping to around $40 in early 2019. As of August 2021, the price of ZEC-USD is around $150.