Zcash

Zcash is a cryptocurrency aimed at using cryptography to provide enhanced privacy for its users compared to other cryptocurrencies such as Bitcoin.

This article is about the cryptocurrency Zcash. It is not to be confused with Zerocoin or zcache.

Zcash
Ticker symbolZEC
Development
White paperZcash Protocol Specification
Initial release28 October 2016 (2016-10-28)
Latest release3.1.0 / 28 July 2020 (2020-07-28) [1]
Code repositorygithub.com/zcash/zcash
Development statusActive
Project fork ofBitcoin Core
Written inC++ and Rust (zcashd), Python (zcashd test suite), Rust (zebra), Kotlin (Android SDK), Swift (iOS SDK), Go (lightwalletd)
Operating systemLinux, Windows, macOS
Developer(s)Electric Coin Company (zcashd), Zcash Foundation (zebra)
Source modelOpen source
LicenseMIT (main zcashd code); MIT/Apache (zebra and some support libraries)
Websitez.cash
Ledger
Hash functionEquihash
Issuance scheduleSimilar to Bitcoin, with "slow start" and different block interval
Block reward6.25 ZEC (5 ZEC to miners; 1.25 Founders' Reward), from Blossom upgrade until first halving [2]
Block time75 seconds (post-Blossom upgrade) [2]
Block explorerexplorer.zcha.in
Circulating supply9,196,819 [3]
Supply limit21,000,000 [2]

    Zcash is based on Bitcoin's codebase.[4] It shares many similarities such as a fixed total supply of 21 million units.[5]

    Transactions can be "transparent" and similar to bitcoin transactions in which case they are controlled by a t-addr, or can be a type of zero-knowledge proof called zk-SNARKs; the transactions are then said to be "shielded" and are controlled by a z-addr. Zcash coins are either in a transparent pool or a shielded pool; as of December 2017 only around 4% of Zcash coins were in the shielded pool and at that time most cryptocurrency wallet programs did not support z-addrs and no web-based wallets supported them.[6] The shielded pool of Zcash coins were further analyzed for security and it was found that the anonymity set can be shrunk considerably by heuristics-based identifiable patterns of usage.[7]

    Zcash affords private transactors the option of "selective disclosure", allowing a user to prove payment for auditing purposes. One such reason is to allow private transactors the choice to comply with anti-money laundering or tax regulations. "Transactions are auditable but disclosure is under the participant's control."[8] The company has hosted virtual meetings with law enforcement agencies around the U.S. to explain these fundamentals and has gone on the record of saying that "they did not develop the currency to facilitate illegal activity".[5]

    See also

    References
    1. "Releases - zcash/zcash". Retrieved 5 August 2020 – via GitHub.
    2. "Frequently Asked Questions - Zcash". Retrieved 10 July 2019.
    3. "Zchain - Zcash Blockchain Explorer & API". Retrieved 1 March 2020.
    4. "The Basics | Zcash". Zcash. Retrieved 10 July 2020.
    5. Popper, Nathaniel (31 October 2016). "Zcash, a Harder-to-Trace Virtual Currency, Generates Price Frenzy". The New York Times.
    6. Quesnelle, Jeffrey (2017). "On the linkability of Zcash transactions". arXiv:1712.01210 [cs.CR].
    7. Kappos, George; Yousaf, Haaroon; Maller, Mary; Meiklejohn, Sarah (2018). "An Empirical Analysis of Anonymity in Zcash": 463–477. ISBN 978-1-939133-04-5. Cite journal requires |journal= (help)
    8. Clozel, Lalita (31 October 2016). "How Zcash Tries to Balance Privacy, Transparency in Blockchain". American Banker.
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