Zcash (ZEC) Price Down 11.8% Over Last Week

Zcash (ZEC) traded down 1.2% against the U.S. dollar during the 1 day period ending at 0:00 AM Eastern on April 17th. In the last week, Zcash has traded down 11.8% against the U.S. dollar. Zcash has a total market cap of $2.00 billion and approximately $142.94 million worth of Zcash was traded on exchanges in the last 24 hours. One Zcash coin can currently be bought for approximately $140.98 or 0.00353771 BTC on exchanges.

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

  • Bitcoin Gold (BTG) traded 2.8% lower against the dollar and now trades at $34.32 or 0.00086114 BTC.
  • Horizen (ZEN) traded 3.6% lower against the dollar and now trades at $36.75 or 0.00092208 BTC.
  • Pirate Chain (ARRR) traded down 3% against the dollar and now trades at $1.72 or 0.00004316 BTC.
  • Alchemy Pay (ACH) traded 1.4% lower against the dollar and now trades at $0.0356 or 0.00000089 BTC.
  • Bitcoin Private (BTCP) traded down 3.8% against the dollar and now trades at $2.77 or 0.00006941 BTC.
  • BitcoinZ (BTCZ) traded 6.6% higher against the dollar and now trades at $0.0003 or 0.00000001 BTC.
  • Hush (HUSH) traded down 5.5% against the dollar and now trades at $0.14 or 0.00000344 BTC.
  • ZClassic (ZCL) traded 9.4% lower against the dollar and now trades at $0.0717 or 0.00000180 BTC.
  • Zero (ZER) traded 25.3% lower against the dollar and now trades at $0.0270 or 0.00000068 BTC.
  • Bitcoin Interest (BCI) traded flat against the dollar and now trades at $0.0064 or 0.00000011 BTC.

Zcash Coin Profile

Zcash (ZEC) is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. Its launch date was October 28th, 2016. Zcash’s total supply is 14,191,831 coins. Zcash’s official message board is forum.z.cash. Zcash’s official Twitter account is @zcashco and its Facebook page is accessible here. The Reddit community for Zcash is https://reddit.com/r/zec and the currency’s Github account can be viewed here. The official website for Zcash is 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

It is usually not 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 Gemini, Coinbase or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Zcash using one of the exchanges listed above.

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