Zcash Market Capitalization Achieves $512.38 Million (ZEC)

Zcash (CURRENCY:ZEC) traded 8.3% higher against the US dollar during the 1 day period ending at 20:00 PM ET on July 17th. One Zcash coin can currently be bought for $73.28 or 0.00759110 BTC on major exchanges including Sistemkoin, OTCBTC, Trade Satoshi and Ovis. Zcash has a total market capitalization of $512.38 million and approximately $420.06 million worth of Zcash was traded on exchanges in the last day. In the last seven days, Zcash has traded 22.7% lower against the US dollar.

Here is how other cryptocurrencies have performed in the last day:

  • Bitcoin Gold (BTG) traded up 1.8% against the dollar and now trades at $26.47 or 0.00274191 BTC.
  • Horizen (ZEN) traded 2.6% higher against the dollar and now trades at $6.22 or 0.00064320 BTC.
  • ZClassic (ZCL) traded down 3.8% against the dollar and now trades at $0.43 or 0.00004414 BTC.
  • Bitcoin Private (BTCP) traded up 63.9% against the dollar and now trades at $0.38 or 0.00003938 BTC.
  • CrypticCoin (CRYP) traded up 0.1% against the dollar and now trades at $0.0005 or 0.00000006 BTC.
  • Bitcoin Interest (BCI) traded 10.8% lower against the dollar and now trades at $0.0610 or 0.00000631 BTC.
  • BitcoinZ (BTCZ) traded 24.1% lower against the dollar and now trades at $0.0002 or 0.00000002 BTC.
  • Zero (ZER) traded up 1% against the dollar and now trades at $0.0898 or 0.00000928 BTC.
  • Bitgem (BTG) traded flat against the dollar and now trades at $2.79 or 0.00034116 BTC.
  • Hush (HUSH) traded down 20.1% against the dollar and now trades at $0.0279 or 0.00000289 BTC.

About Zcash

ZEC is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. It launched on October 28th, 2016. Zcash’s total supply is 6,992,131 coins. Zcash’s official website is z.cash. Zcash’s official Twitter account is @zcashco and its Facebook page is accessible here. The official message board for Zcash is forum.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 the following cryptocurrency exchanges: LiteBit.eu, Bitlish, Kraken, Exmo, Poloniex, LocalTrade, Waves Decentralized Exchange, Ovis, Coinroom, WEX, Bitinka, BTC-Alpha, Liquid, Cryptopia, BitBay, Tux Exchange, BCEX, HitBTC, Binance, Braziliex, Instant Bitex, Upbit, OKEx, Huobi, BTC Trade UA, Gate.io, Bit-Z, Bittrex, Mercatox, OTCBTC, Allcoin, Bitfinex, CoinEx, Cryptomate, Gemini, Altcoin Trader, Coinut, Kuna, Bithumb, CEX.IO, GOPAX, Sistemkoin, YoBit, BiteBTC, BX Thailand, Coinrail, Graviex, C2CX, LBank, Cryptohub, CoinExchange, Crex24, Trade Satoshi and BigONE. It is usually not currently possible to purchase alternative cryptocurrencies such as Zcash directly using U.S. dollars. Investors seeking to trade Zcash should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Gemini, GDAX or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Zcash using one of the exchanges listed above.

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