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What currency is ZEC? What does ZEC coin mean?
ZEC's privacy-centric features, such as zero-knowledge proofs and shielded transactions, make it a preferred choice for individuals and entities seeking confidentiality and anonymity in their financial dealings.
Oct 28, 2024 at 03:44 pm
1. What is ZEC?
ZEC, also known as Zcash, is a decentralized and open-source cryptocurrency that focuses on privacy and anonymity. It was launched in October 2016 by the Zerocoin Electric Coin Company (ZECC).
2. Key Features of ZEC:
- Privacy: ZEC transactions utilize zero-knowledge proofs to hide the sender, receiver, and transaction amount from public view.
- Confidentiality: Transactions can be completely shielded, making them virtually untraceable and immutable.
- Fungibility: All ZEC coins are indistinguishable from one another, ensuring their privacy and anonymity.
3. ZEC Technology:
- Proof-of-Work Consensus: ZEC utilizes the Equihash algorithm to secure its blockchain and validate transactions.
- Sapling Protocol: This updated privacy protocol enhances transaction efficiency and reduces transaction sizes.
- Tor and VPN Integration: ZEC supports optional integration with Tor and VPN services to further enhance privacy.
4. Use Cases of ZEC:
- Private Transactions: Individuals and entities can send and receive ZEC without revealing their identities.
- Confidential Business Transactions: Businesses can use ZEC to conduct transactions securely and privately, protecting sensitive information.
- Cybersecurity and Privacy Protection: Journalists, activists, and whistleblowers can use ZEC to safeguard their communication and financial transactions.
5. Symbol and Issuances:
- The ticker symbol for ZEC is ZEC.
- The total supply of ZEC is capped at 21 million coins.
- Blocks are mined approximately every 2.5 minutes, and miners receive a block reward of 2.5 ZEC.
6. Market Performance:
- ZEC has a market capitalization of approximately $3 billion as of February 2023.
- Its price is highly volatile, like other cryptocurrencies.
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The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
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