DO YOU KNOW THE POWERFULL DIGITAL ASSECT FOR BLOCK
CHAIN.
What is zcash.
This crypto currency is launched in 2016. zcash is a peer-to-peer cryptocurrency built on the same code as bitcoin but with an emphatic focus on privacy it was developed by cryptographers from johns hopkins mit uc berkeley technion and tel aviv university it was primarily developed to solve bitcoin's privacy flaws and is based on a concept called zerocoin from the 1990s that utilized a mathematical technique called zero knowledge proofs to verify transactions zcash transactions are shielded making them completely private zcash promises confidentiality to its users and post data to a public blockchain transactions are verified without disclosing the sender receiver or transaction amount all the users may be selective about what information may be shared for the sake of compliance or an audit to offer flexibility zcash utilizes two different types of sender or recipient addresses z addresses which are private and t addresses which are public by using different combinations of these addresses for a transaction lets users decide how much privacy they want in addition to acting as a private digital currency zcash is focused on efficiency and security to enact speedy transactions that are resilient to hackers zcash was built to function primarily as a payment token allowing users to make purchases and send funds easily similar to other cryptocurrencies zcash can be purchased on many online exchanges and markets or earned by mining and thus helping to secure the decentralized network digital assets like this one are supported by blockcard and you can use them to fund your blockcard account and make purchases at over 50 million merchants worldwide you can also use blockcard bank accounts.
MORE IMPORTANT FACTS FOR Z CASH.
zero knowledge proofs are cutting edge technology they are really really advanced uh new mathematical tools that enable you to basically verify a transaction is taking place without knowing who the sender or the receiver of that transaction is without knowing the amount which is incredible you think about something like bitcoin which i also adore but just how much information the blockchain gives away i could literally if you send me money right now i can then see how much money is in your wallet and i can see what other places you spend money if i had you know machine learning tools i could create an entire transaction graph of all of your activities and the people that you associate with i can start to find patterns in your usage so a lot of people don't realize how transparent the blockchain is um so zero knowledge proofs are particularly interesting to me because none of that information is public it's all encrypted so if i were to send you money via zcash and it's a shielded transaction uh you would look at that blockchain and you would click on sender and it would say and you'd click on receiver and you'd say oh and you say well how much was it how much is the transaction and there'd be no information for you to get and so if you're trying to track down transactions that's incredibly powerful you know um one thing i will say about zcash so a couple of things actually it gets a lot of flack i'll tell you the reasons why it gets flack and why i still believe so strongly in it especially with this coming may when they have this new upgrade coming so zcash when it first came out it was cutting edge technology that was completely unwieldy for an average computer user it was unworkable it was useless i like back in the day i think i was trying to mine it on my computer when it first came out and it's just like to send a shielded transaction it's like four gigabytes of ram it took like you know 12 minutes or something ridiculous like that so no one is going to send a private transaction so everyone looked at z cash
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