Zcash Trading Up 1.3% Over Last Week (CRYPTO:ZEC)

Zcash (CURRENCY:ZEC) traded 2.3% lower against the US dollar during the 24 hour period ending at 21:00 PM ET on February 17th. In the last week, Zcash has traded 1.3% higher against the US dollar. Zcash has a market capitalization of $302.08 million and approximately $253.23 million worth of Zcash was traded on exchanges in the last 24 hours. One Zcash coin can now be bought for approximately $49.72 or 0.01278112 BTC on popular cryptocurrency exchanges including Kuna, Altcoin Trader, BCEX and Tux Exchange.

Here is how related cryptocurrencies have performed in the last 24 hours:

  • Bitcoin Gold (BTG) traded 3.4% lower against the dollar and now trades at $12.18 or 0.00313129 BTC.
  • Horizen (ZEN) traded 1.3% lower against the dollar and now trades at $5.40 or 0.00138867 BTC.
  • Bitcoin Private (BTCP) traded 7.9% lower against the dollar and now trades at $0.67 or 0.00017101 BTC.
  • ZClassic (ZCL) traded down 0.9% against the dollar and now trades at $1.03 or 0.00026396 BTC.
  • CrypticCoin (CRYP) traded 13.4% higher against the dollar and now trades at $0.0021 or 0.00000055 BTC.
  • Bitcoin Interest (BCI) traded down 3.2% against the dollar and now trades at $0.12 or 0.00003061 BTC.
  • BitcoinZ (BTCZ) traded 0.8% lower against the dollar and now trades at $0.0002 or 0.00000005 BTC.
  • Hush (HUSH) traded 22.1% lower against the dollar and now trades at $0.0584 or 0.00001501 BTC.
  • Zero (ZER) traded 3.3% lower against the dollar and now trades at $0.0536 or 0.00001378 BTC.
  • Bitgem (BTG) traded flat against the dollar and now trades at $2.79 or 0.00034116 BTC.

About Zcash

Zcash (CRYPTO: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 6,075,169 coins. Zcash’s official Twitter account is @zcashco and its Facebook page is accessible here. The official website for Zcash is z.cash. The official message board for Zcash 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 purchased on these cryptocurrency exchanges: Bittrex, GOPAX, Bit-Z, Braziliex, BX Thailand, Huobi, Bitinka, HitBTC, CEX.IO, Coinut, WEX, C2CX, Coinroom, Cryptohub, Upbit, Crex24, Bithumb, BitBay, BiteBTC, LocalTrade, Sistemkoin, Tux Exchange, Graviex, Mercatox, YoBit, BTC-Alpha, Binance, Altcoin Trader, Allcoin, LiteBit.eu, LBank, BCEX, Gemini, Bitfinex, BigONE, Coinrail, Ovis, Cryptopia, BTC Trade UA, Exmo, Cryptomate, Trade Satoshi, CoinExchange, Bitlish, Poloniex, Kuna, OKEx, Kraken, Liquid, CoinEx, Gate.io, Instant Bitex, OTCBTC and Waves Decentralized Exchange. It is usually not currently possible to purchase alternative cryptocurrencies such as Zcash directly using US dollars. Investors seeking to acquire Zcash should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Changelly, GDAX or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Zcash using one of the aforementioned exchanges.

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