Zcash

Zcash ZEC

Centralized > Hierarchical org. structure
  • Digital currency
  • Privacy
  • Anonymity
25 Rank
$505.88 Price
-4% % 24h
-2.9% % 1h
$1,564,171,614 Mkt. Cap
$140,663,000 Vol. 24h
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Zcash project purpose and description

Zcash clarity of purpose

Zcash purpose and aspects

Anonymity, Secure, Private, Untraceable, Selective transparency, Dynamic scalability, Trustless transactions between parties, Freedom of payments, Counterfeiting impossible, Fraud resistant, No single point of failure, No % based transfer costs, free to hold

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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