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Zcash

Zcash ZEC

  • Digital currency
  • Privacy
  • Anonymity
$255.77 Price
0.89% % 24h
1.14% % 1h
Score
$666,526,021 Mkt. Cap
$95,182,100 Vol. 24h
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Zcash project purpose and description

Short description

Zerocash, a practical instantiation of our DAP scheme construction. In Zerocash, transactions are less than 1 kB and take under 6 ms to verify — orders of magnitude more efficient than the less-anonymous Zerocoin and competitive with plain Bitcoin.

Abstract

In this paper, we construct a full-fledged ledger-based digital currency with strong privacy guarantees. Our results leverage recent advances in zero-knowledge Succinct Non-interactive ARguments of Knowledge (zk-SNARKs). We formulate and construct decentralized anonymous payment schemes (DAP schemes). A DAP scheme lets users pay each other directly and privately: the corresponding transaction hides the payment’s origin, destination, and amount. We provide formal definitions and proofs of the construction’s security. We then build Zerocash, a practical instantiation of our DAP scheme construction. In Zerocash, transactions are less than 1 kB and take under 6 ms to verify — orders of magnitude more efficient than the less-anonymous Zerocoin and competitive with plain Bitcoin.

Link to Roadmap: https://z.cash/support/faq.html
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