Zcash is one of the most anticipated digital currencies. The hype around the upcoming digital money seems right. Zcash provides truly unforeseen anonymity, that investors find quite prospective.
Although Zcash brings privacy to a whole new level, it still uses a decentralized public blockchain. A sender and a recipient don’t reveal their identities during transactions. Neither is seen an amount sent. All transaction details are securely encrypted away from third parties.
What’s the difference?
There are many anonymous cryptos on the digital market. So what’s the difference between other anonymous altcoins and Zcash?
Zcash uses a brand new algorithm which is invulnerable to any metadata analysis. It’s based on zero-knowledge proof named a zk-SNARK, hiding both parties and an amount sended. To get access to information about transactions, a user must hold a view key. Otherwise, no one can see the details.
Zcash developers are convinced that such kind of anonymity will solve the issue of fungibility in the blockchain making Zcash one and only untraceable cryptocurrency.