1. Basic information about Zcash virtual currency
Name of currency (currency)
October 28, 2016
Maximum number of units issued
The foreign exchange carries out the processing
Binance, Bittrex, Bitfinex, Poloniex,
2. General information about ZCash
• Total coin issued:
• Currently released:
Equihash (to create ASIC resistance through high RAM requirements)
• Proof of Work:
Proof of Work
ZCash is important because it provides a secure transport layer for data (and ultimately identity). Imagine an armored car that holds your data in a box. The safe word vehicle protects the box's contents as well as provides safety information for the data.
With Bitcoin, our data is being transported by a transparent glass truck that allows anyone to see the contents of the vehicle. This means that observers, thieves or other bad actors will likely see what money you have in the car or the payee's money.
3. What is the block size of Zcash?
If you have a transaction that takes up half a Megabyte (MB) on the Blockchain, it will increase the Blockchain by half a MB. With just 2,000 transactions in 2 hours, you will have 1 Gigabyte (GB). Along with the rapid growth of Blockchain, the system will soon be affected.
With that in mind, Zcash has found a competitive advantage by optimizing individual transactions to a usable level of 1,500 bytes. With this size, the encoding calculation time is reduced from 5-6 minutes to 1 minute.
4. What makes Zcash different?
Similar to Bitcoin, Zcash's mechanism is instantaneous and has no "pre-miner" phase. After 24 hours, only 4 ZECs are exploited out of a total of 21 million ZECs. Every day 0-7000 ZEC is mined for 30 days and kept at 7200 ZEC after that time, 10% of all ZEC mined over time will be sent to the Zcash Foundation.
• Quick and Easy Payment ZCash allows easy and fast payments. This is because one does not require any documents or credit cards, the address of the institution or to whom the money is being transferred to be sufficient. Furthermore, the payment transfer processing is quite fast as it only takes a few seconds. This is very useful in such a fast paced life.
• Safe and secure: When military grade cryptography is used, it ensures security in transactions. This is because no one else except the holder of a wallet can make a payment or transfer using it. There is no need to trust anyone when using cryptocurrencies.
• Low transaction fees: Payment processing companies and banks usually charge some fees to process money transfers and payments, but they can be eliminated electronically. The network is responsible for compensating the miners.
• Anti-Fraud: Since cryptocurrency is a digital product, it cannot be copied or reversed. This helps to limit the risk of fraud that many people fall victim to.
• Instant settlement: Cryptocurrency eliminates third-party approval, especially in real estate purchases.
• Interaction The use of Zcash in business has the benefits of mutual contact. Both parties benefit from a deal when they sign in with a provider.
• International usage: Bank accounts and credit cards can have problems for international transactions, but this is not the case with cryptocurrencies. This is because cryptocurrencies are not tied to any government status or rules, cross-country transaction fees, interest rates and exchange rates.
• Anonymity of customers: ATM cards, debit cards and credit cards are often associated with home addresses, names and other unique personal information. With Zcash, the user is completely anonymous, does not show the name or any information of the trader, which makes them completely safe.
• Improving Reputation Cryptocurrencies are gaining a good reputation as well as a sense of legitimacy, with both suppliers and customers.
5. Effective ZCash digging tool
ZCash uses Equihash which is a cryptographic hashing algorithm. It is designed to bridge the gap between the Large Miner and the Average Miner by not only solving the problem with a computer, but also based on the hardware that the average computer always has - RAM. Your hash rate is based on the productivity and speed of your RAM, as opposed to the power of GPUs and ASICs.
Historically, Zcash mining often uses two types of hardware: CPU or GPU. For each type of hardware, there will be a corresponding Zcash mining tool: Nicehash Miner for CPU and Claymore Miner for GPU.
However, professional Zcash miners recently were able to rejoice that a dedicated ASIC miner for the coin has finally been released by Bitmain: the Antminer Z9 Mini.