Zcash (ZEC) is an open source cryptocurrency which is based on the bitcoin source code. Zcash is built around privacy. User identities are not made publicly available in the blockchain. It uses a proof of work system to generate blocks.
The altcoin uses zero-knowledge succinct non-interactive argument of knowledge (zk-SNARK) technology to deliver greater anonymity. Zcash uses both private and public wallet addresses. Transactions between two private addresses are published on its public ledger, but wallet addresses and details of the amounts transacted are encrypted and do not appear on the public ledger.
User can also choose to make transactions from public addresses, in which case all transaction information is published on the public ledger. It is also possible to make transactions between public and private Zcash addresses.
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