Zcash Price Tops $113.88 on Exchanges (CRYPTO:ZEC)

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Zcash (CURRENCY:ZEC) traded 8.3% lower against the dollar during the 24-hour period ending at 14:00 PM ET on October 4th. One Zcash coin can now be purchased for about $113.88 or 0.01820533 BTC on cryptocurrency exchanges including Gate.io, LocalTrade, WEX and Bit-Z. In the last seven days, Zcash has traded 8.8% lower against the dollar. Zcash has a total market capitalization of $568.36 million and approximately $238.29 million worth of Zcash was traded on exchanges in the last day.

Here is how similar cryptocurrencies have performed in the last day:

  • Bitcoin Gold (BTG) traded 8.2% lower against the dollar and now trades at $24.27 or 0.00387970 BTC.
  • Horizen (ZEN) traded 9.8% lower against the dollar and now trades at $14.14 or 0.00225989 BTC.
  • Bitcoin Private (BTCP) traded 9.2% lower against the dollar and now trades at $2.50 or 0.00040020 BTC.
  • Bitcoin Interest (BCI) traded 5% lower against the dollar and now trades at $1.00 or 0.00016008 BTC.
  • ZClassic (ZCL) traded 9.9% lower against the dollar and now trades at $3.17 or 0.00050687 BTC.
  • BitcoinZ (BTCZ) traded down 5.1% against the dollar and now trades at $0.0006 or 0.00000009 BTC.
  • Zero (ZER) traded 4% lower against the dollar and now trades at $0.14 or 0.00002294 BTC.
  • Hush (HUSH) traded down 28.3% against the dollar and now trades at $0.10 or 0.00001605 BTC.
  • Bitgem (BTG) traded flat against the dollar and now trades at $2.79 or 0.00034116 BTC.
  • VoteCoin (VOT) traded 12.8% lower against the dollar and now trades at $0.0036 or 0.00000057 BTC.

Zcash Profile

Zcash (ZEC) is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. It was first traded on October 28th, 2016. Zcash’s total supply is 4,990,819 coins. Zcash’s official website is z.cash. Zcash’s official message board is forum.z.cash. Zcash’s official Twitter account is @zcashco and its Facebook page is accessible here.

According to CryptoCompare, “zk-SNARKsThe BasicZcash is the first widespread application of zk-SNARKs, a novel form of zero-knowledge cryptography. The strong privacy guarantee of Zcash is derived from the fact that shielded transactions in Zcash can be fully encrypted on the blockchain, yet still be verified as valid under the network’s consensus rules by using zk-SNARK proofs. The acronym zk-SNARK stands for “Zero-Knowledge Succinct Non-Interactive Argument of Knowledge,” and refers to a proof construction where one can prove possession of certain information, e.g. a secret key, without revealing that information, and without any interaction between the prover and verifier. “Zero-knowledge” proofs allow one party (the prover) to prove to another (the verifier) that a statement is true, without revealing any information beyond the validity of the statement itself. For example, given the hash of a random number, the prover could convince the verifier that there indeed exists a number with this hash value, without revealing what it is.   Application to ZCASHIn order to have zero-knowledge privacy in Zcash, the function determining the validity of a transaction according to the network’s consensus rules must return the answer of whether the transaction is valid or not, without revealing any of the information it performed the calculations on. This is done by encoding some of the network's consensus rules in zk-SNARKs. At a high level, zk-SNARKs work by first turning what you want to prove into an equivalent form about knowing a solution to some algebraic equations. In the following section, we give a brief overview of how the rules for determining a valid transaction get transformed into equations that can then be evaluated on a candidate solution without revealing any sensitive information to the parties verifying the equations. “

Zcash Coin Trading

Zcash can be traded on the following cryptocurrency exchanges: C2CX, Bitinka, Sistemkoin, OTCBTC, Bit-Z, Bittrex, Huobi, BitBay, BTC-Alpha, Braziliex, Upbit, Ovis, HitBTC, Bitfinex, Altcoin Trader, LocalTrade, Bithumb, Gemini, Instant Bitex, Binance, Graviex, Coinroom, BTC Trade UA, Cryptohub, Gate.io, Coinrail, CEX.IO, Tux Exchange, BiteBTC, Waves Decentralized Exchange, BCEX, Crex24, CoinExchange, WEX, LiteBit.eu, Cryptopia, Bitlish, Kraken, Poloniex, CoinEx, Trade Satoshi, Cryptomate, BigONE, Coinut, Mercatox, YoBit, Liquid, Kuna, GOPAX, LBank, BX Thailand, Allcoin, Exmo and OKEx. It is usually not possible to purchase alternative cryptocurrencies such as Zcash directly using U.S. dollars. Investors seeking to trade Zcash should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as GDAX, Gemini or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Zcash using one of the exchanges listed above.

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