What is Zcash?
Zcash is a very different virtual currency compared to Bitoin. Zcash cryptocurrency, which prefers decentralized Blockchain technology, uses Blockchain technology like many other cryptocurrencies. However, the aspect that distinguishes Zcash from other virtual currencies is its protocol structure. With this protocol called Zk-SNARK, Zcash users can hide their identity in all their transactions. At first glance, it may be perceived as the same feature as BTC and ETH, but the situation is much different. The difference from BTC is that it can store the value of all transactions in the block chain. Only those who need to see can see it.
In BTC and ETH, all transactions could be seen while users remained private. The difference of Zcash is that it can be confidential in its transactions. In other words, with Zcash, both persons and transactions can remain confidential. This is the difference from Bitcoin and Ethereum.
What Does Zcash Do?
The shortest answer to the question of what is Zcash for, allows you to transfer money quickly and reliably. Security is one of the main issues Zcash focuses on. Zcash is a cryptocurrency. With Zcash, you can save and mine, create e-wallets, and earn money by entering the stock market. Thanks to Zk-SNARKs technology, your money will always be safe. Your money is always under the guarantee of Zcash by internet hackers. With Zcash, you can transfer your money securely to the other party. You can also perform your transactions without paying commission to any bank. Since the transfers that you do not want to be learned are hidden thanks to the technology used, all your transactions will be safe.
Zcash Advantages and Disadvantages
The most important feature of Zcash crypto money is undoubtedly that it offers secure transactions. With this feature, it differs from many other cryptocurrencies. In addition, all transfers made by its users can be hidden thanks to zk-SNARKs technology. Thus, it becomes impossible for hackers to be successful in transfer transactions.
One of the biggest disadvantages of Zcash can be said to be the amount of electricity it consumes during mining. During Zcash mining, it consumes an average of 150-200 watts of electricity per hour, and is criticized by its users. It has approximately 1.5 times more electricity consumption than the new generation crypto coins. Because of this feature, Zcash miners are quite complaining.
Zcash is a digital currency with strong privacy features. Transact efficiently and safely, with low fees, while ensuring digital transactions remain private.