Manage your ZEC
with NOW Wallet
How it works
How to buy Zcash with card
- Pick ZEC as the currency you want to buy.
- Choose a fiat currency to buy ZEC with.
- Enter your card details and the recipient's address if you are sending to a third-party wallet.
- Receive your ZEC in approximately 5 mins!
How to exchange Zcash
- Pick ZEC as the currency you want to exchange.
- Choose the crypto asset you’d like to get for your ZEC.
- Enter the recipient's address if you are exchanging to a third-party wallet.
- Receive your exchanged assets in approximately 5 mins!
What is Zcash (ZEC)
Zcash originated back in 2013 with the Zerocoin whitepaper. The whitepaper was written by a group of academics including Matthew Green and Eli Ben-Sasson. The said group aimed to improve the privacy issues of the Bitcoin network and used its code in the Zcash blockchain. The network was finally launched in 2016, after Zooko Wilcox, a cryptographer, advanced the Zerocoin whitepaper. ZEC, the digital asset of the network, is one of the most prominent privacy coins on the market. It provides its users with anonymity when performing transactions meaning that no data that is recorded on the blockchain can be traced back to the user. That is done with the help of “shielded addresses”.
Every four years a block halving event occurs on the Zcash blockchain. This means that every four years a reward that a user receives for completing a new block of the Zcash blockchain. The initial block reward amounted to 12.5 ZEC and has now been reduced to 3.125 ZEC. These halving events will keep taking place until the total ZEC supply, 21 million, is in circulation.
In 2021, Zcash released a mainnet for its major network update, NU5. NU5 integrated Halo 2 zero-knowledge proving system (“Halo”), moving Zcash to the Halo proving system. Halo Arc ensures the security of shielded transactions and includes auto-migration, moving funds to the newest shielded pool.