Zcash Price Reaches $57.93 (ZEC)

Zcash (CURRENCY:ZEC) traded down 0.2% against the U.S. dollar during the 24 hour period ending at 0:00 AM Eastern on September 19th. One Zcash coin can currently be bought for approximately $57.93 or 0.00528252 BTC on major cryptocurrency exchanges including Coinrail, Bithumb, Instant Bitex and Crex24. During the last seven days, Zcash has traded 11.9% lower against the U.S. dollar. Zcash has a total market cap of $583.60 million and $331.24 million worth of Zcash was traded on exchanges in the last 24 hours.

Here’s how similar cryptocurrencies have performed during the last 24 hours:

  • Bitcoin Gold (BTG) traded 3.4% lower against the dollar and now trades at $8.21 or 0.00074860 BTC.
  • Horizen (ZEN) traded down 1.8% against the dollar and now trades at $5.96 or 0.00054341 BTC.
  • Alchemy Pay (ACH) traded 3% lower against the dollar and now trades at $0.0251 or 0.00000229 BTC.
  • ZClassic (ZCL) traded 3.4% higher against the dollar and now trades at $0.20 or 0.00001866 BTC.
  • Zero (ZER) traded up 7.1% against the dollar and now trades at $0.10 or 0.00000921 BTC.
  • BitcoinZ (BTCZ) traded down 3.4% against the dollar and now trades at $0.0001 or 0.00000001 BTC.
  • Hush (HUSH) traded 0.3% higher against the dollar and now trades at $0.0595 or 0.00000542 BTC.
  • Bitcoin Private (BTCP) traded up 1.3% against the dollar and now trades at $0.11 or 0.00000960 BTC.
  • Bitgem (BTG) traded flat against the dollar and now trades at $2.79 or 0.00034116 BTC.
  • CrypticCoin (CRYP) traded 0% higher against the dollar and now trades at $0.0000 or 0.00000000 BTC.

Zcash Coin Profile

ZEC is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. It launched on October 28th, 2016. Zcash’s total supply is 10,074,569 coins. Zcash’s official Twitter account is @zcashco and its Facebook page is accessible here. Zcash’s official website is z.cash. Zcash’s official message board is forum.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 bought or sold on these cryptocurrency exchanges: Bitfinex, Kuna, Braziliex, BTC Trade UA, Sistemkoin, CEX.IO, CoinExchange, Coinroom, HitBTC, Bithumb, CoinEx, Graviex, Trade Satoshi, BitBay, Bitlish, Allcoin, Ovis, Gate.io, Coinrail, OKEx, Cryptohub, WEX, Cryptopia, BX Thailand, Exmo, Coinut, LiteBit.eu, OTCBTC, BiteBTC, Altcoin Trader, Liquid, Huobi, Bittrex, Kraken, Binance, Instant Bitex, LBank, Gemini, Tux Exchange, Bit-Z, LocalTrade, Cryptomate, Bitinka, C2CX, YoBit, Crex24, BCEX, Upbit, Waves Decentralized Exchange, BTC-Alpha, Mercatox, BigONE, GOPAX and Poloniex. It is usually not currently possible to buy alternative cryptocurrencies such as Zcash directly using US dollars. Investors seeking to acquire Zcash should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Gemini or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Zcash using one of the aforementioned exchanges.

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