Zcash (ZEC) Wallet

Zcash value

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”.

Zcash halving

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.

Zcash news

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.