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When was ZEC coin issued? Learn about the origin of ZEC coin in one article
Zcash was developed by the Electric Coin Company (ECC) in 2016 and formally launched in October of the same year, with the goal of providing enhanced privacy and anonymity in cryptocurrency transactions.
Oct 27, 2024 at 04:22 pm
Origins of Zcash (ZEC) Coin: A Comprehensive Timeline
1. Initial Concept: Electric Coin Company (2013)
The concept of Zcash emerged within the Electric Coin Company (ECC), founded in 2013 by Zooko Wilcox-O'Hearn, a prominent figure in the privacy-enhancing technology community.
2. Launch of Zerocoin Protocol (2014)
In 2014, ECC released the Zerocoin protocol, a promising privacy protocol that allowed for anonymous transactions on blockchains. This protocol laid the groundwork for the development of Zcash.
3. Zcash Whitepaper Release (2016)
On March 4, 2016, the Zcash whitepaper was published, outlining the technical specifications and security features of the Zcash blockchain.
4. Zcash Mainnet Launch (October 2016)
On October 28, 2016, the Zcash mainnet officially went live, marking the public release of the blockchain and the availability of the ZEC coin.
5. Initial Coin Offering (October 2016)
To fund the development and operations of Zcash, the Electric Coin Company conducted an initial coin offering (ICO) in October 2016. The ICO raised over $23 million in ZEC coins.
6. Zcash Foundation Established (2017)
In March 2017, the Zcash Foundation was established as a non-profit organization to support and promote the Zcash project.
7. Shielded Transactions Upgrade (2018)
In February 2018, a major upgrade to the Zcash protocol, known as the Shielded Transactions Upgrade, was activated. This upgrade significantly improved the privacy features of the blockchain and enhanced its overall performance.
8. Increment Protocol Upgrade (2020)
The Increment Protocol Upgrade was released in November 2020, introducing optimizations that reduced the transaction sizes and transaction fees associated with shielded transactions.
9. Halo 2 Upgrade (2022)
In December 2022, the Halo 2 upgrade was implemented, further enhancing the privacy and security of the Zcash blockchain. This upgrade reduced the computational overhead for shielded transactions and provided stronger cryptographic proofs.
10. Current Status (2023)
As of January 2023, Zcash remains an active and widely used privacy-focused cryptocurrency, with a market capitalization of approximately $700 million.
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