Zcash Price Reaches $56.90 on Major Exchanges (ZEC)

Zcash (CURRENCY:ZEC) traded 4.7% lower against the U.S. dollar during the 1 day period ending at 20:00 PM E.T. on August 12th. Over the last seven days, Zcash has traded down 15% against the U.S. dollar. One Zcash coin can now be purchased for about $56.90 or 0.00500017 BTC on popular exchanges including Coinut, OTCBTC, Crex24 and Instant Bitex. Zcash has a total market capitalization of $408.48 million and $85.52 million worth of Zcash was traded on exchanges in the last day.

Here’s how similar cryptocurrencies have performed over the last day:

  • Bitcoin Gold (BTG) traded down 2.7% against the dollar and now trades at $15.12 or 0.00132890 BTC.
  • Horizen (ZEN) traded down 2.3% against the dollar and now trades at $5.83 or 0.00051239 BTC.
  • ZClassic (ZCL) traded 5.8% lower against the dollar and now trades at $0.33 or 0.00002874 BTC.
  • CrypticCoin (CRYP) traded up 7.1% against the dollar and now trades at $0.0008 or 0.00000007 BTC.
  • Bitcoin Private (BTCP) traded 0.7% lower against the dollar and now trades at $0.27 or 0.00002409 BTC.
  • BitcoinZ (BTCZ) traded down 3.1% against the dollar and now trades at $0.0002 or 0.00000002 BTC.
  • Bitcoin Interest (BCI) traded down 0% against the dollar and now trades at $0.0537 or 0.00000472 BTC.
  • Zero (ZER) traded down 7.8% against the dollar and now trades at $0.0628 or 0.00000552 BTC.
  • Bitgem (BTG) traded flat against the dollar and now trades at $2.79 or 0.00034116 BTC.
  • Hush (HUSH) traded down 26.7% against the dollar and now trades at $0.0235 or 0.00000207 BTC.

About Zcash

ZEC is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. It was first traded on October 28th, 2016. Zcash’s total supply is 7,178,481 coins. Zcash’s official Twitter account is @zcashco and its Facebook page is accessible here. Zcash’s official message board is forum.z.cash. Zcash’s official website is 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: Huobi, Mercatox, Trade Satoshi, CEX.IO, Coinrail, CoinEx, OKEx, BigONE, Coinut, CoinExchange, Kraken, Upbit, Bitlish, BitBay, Sistemkoin, BX Thailand, Exmo, Bit-Z, Altcoin Trader, Bitfinex, Liquid, Cryptomate, YoBit, Gate.io, LBank, LiteBit.eu, Waves Decentralized Exchange, Instant Bitex, BTC Trade UA, Bitinka, Kuna, BTC-Alpha, Ovis, Graviex, Binance, BCEX, BiteBTC, Coinroom, Poloniex, HitBTC, Gemini, Cryptopia, LocalTrade, Crex24, WEX, Allcoin, Cryptohub, GOPAX, Braziliex, OTCBTC, Bittrex, C2CX, Tux Exchange and Bithumb. It is usually not presently possible to purchase alternative cryptocurrencies such as Zcash directly using U.S. dollars. Investors seeking to acquire Zcash should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Changelly, Coinbase or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Zcash using one of the exchanges listed above.

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