HitBTC is happy to announce support for Zcash (ZEC), opening a new ZEC/BTC market.
What is ZCash?
Zcash is a new cryptocurrency, launched on October 28, 2016. It represents a new decentralized, open-source digital asset that offers privacy and selective transparency of transactions. Just like most of digital currencies, Zcash runs a public blockchain, but conceals transaction amounts, and allows both senders and recipients remain private.
Being developed and supported by a number of professional scientists, Zcash uses advanced cryptographic techniques, namely zero-knowledge proofs, to guarantee the validity of transactions without revealing additional information about them.
Despite being just released, Zcash has a long track record, and a plenty of stakeholders, including names such as Roger Ver and Barry Seibert as well as Pantera Capital. Another peculiar fact is that despite being an open source project, Zcash is set up as company, run by Zooko Wilcox, a 41 year old cryptographer. The Company, running Zcash gets 20%, which will amount to 10% of the total supply.
The Zcash total coin supply is going to be 21 million like Bitcoin, and the asset follows the same issuance rate with 21m ZEC being issued over 131 years. However, instead of having 10 minute blocks, ZCash will have a 2.5 minute block average with 4 times bigger block rewards that halve every 4 years.
All these features make ZCash a great asset. Don’t waste time, become one of the first ZCash traders!