(ZEC) Zcash News

Zcash (ZEC) is similar to Bitcoin (BTC) in that it allows users to transact value through the use of blockchain technology. However, unlike Bitcoin, Zcash includes offers anonymity — allowing users to choose how privately they wish to transact.

To achieve this, Zcash provides each of its users with two types of address: transparent and shielded. Transparent addresses are used for public transactions when privacy is not a concern, whereas shielded addresses are used when transaction privacy is more important than confirmation time.

Zcash was the first cryptocurrency to implement a new type of cryptographic proof known as zk-SNARKS — providing a way for transactions to be verified without revealing any sensitive information whilst simultaneously preventing double spends.