- 1 ZenCash Coin – A Revolutionary Derivative of Bitcoin
- 1.1 Why Only Selective Transparency?
- 1.2 Optional Deactivation of the Obfuscation Feature
- 1.3 Differences Between ZCash and ZenCash Coin
- 1.4 Latest Technologies, Secure Nodes and Global Concepts
- 1.5 A Look Behind the Scenes
- 1.6 Forward Thinking
- 1.7 Wide Usage and Global Accessibility
- 1.8 In Conclusion: A Coin with Reliable Developers
ZenCash Coin – A Revolutionary Derivative of Bitcoin
You have to hand it to ZenCash Coin. Although it is based on Bitcoin technology, it has certainly made its mark on the relevant crypto market since its release. It was formerly known as ZCash. The developers were clear about their aims from the outset. Privacy and selective transparency are, in their view, the two most important components of the success of a digital currency.
Why Only Selective Transparency?
To explain this in more detail, it is first necessary to have a look at two well-known cryptocurrencies. Bitcoin and Ethereum are very simple cryptocurrencies. Every entry and every transaction offers an insight into the transmitted data. This means that neither the origin nor the number of messages is obfuscated. There were already scandals after Bitcoin accounts were hacked. The developers of ZenCash Coin were determined to not allow this to happen, hence the implementation of selective transparency.
If the cryptocurrency is used for a purchase, some traceability is necessary. In the case of cancellations or other business scenarios, this ensures the necessary security. The transmission of the order number must be transparent, at least, otherwise, the payment cannot be assigned.
However, such an approach does not jeopardize the privacy of individual users. Instead of merely transmitting here, the blockchain cleverly creates several dummies in parallel. However, only one of them really transmits the payment methods. Outwardly it is not clear which data strings are the fake versions and which are real.
Optional Deactivation of the Obfuscation Feature
To ensure maximum flexibility, this process can be deactivated. Without being exposed to the risk of a hacking attack, all data records are transmitted from a particular point in time. However, this only applies to the payment sender, not to the recipient, unless the obfuscation is disabled on the second page. This offers maximum protection for the end-user.
The records are split. Each file is now transmitted separately in different hashes and later saved. This ensures, even in the case of complete transparency, that the transfers are secured multiple times.
Differences Between ZCash and ZenCash Coin
As well as the name change, there were also a few technological advancements. The release of ZenCash Coin was the beginning of a completely encrypted network.
At the time of ZCash, community members still had the opportunity to control transparency via t and z addresses. A t-address is fully transparent in the same way as Bitcoin, while a z-address uses cryptography and a zero-knowledge proving system to protect the user. These were shielded in different ways. To simplify the whole process for the users, that system was abolished. This technology is now the basis of every data transmission.
Latest Technologies, Secure Nodes and Global Concepts
ZenCash Coin is characterized by various peculiarities. Developers use zero-knowledge encryption, for example, to ensure that communication is not traceable. How this is done has already been explained. There is protection against DDoS or other attacks. By using zkSNARKs, the team relies on the best technology available.
A Look Behind the Scenes
In order to be able to work globally, a high server capacity is necessary. These are connected to secure nodes and split up on a separate system. In total, between 1000 and 5000 secure nodes are active.
Excessive domain fronting, the use of segregated witness and the continuous improvement of all wallets are just a few of the long-term goals. The developers specialize, in particular, on various processes at any time. This includes using the latest technologies and delivering continuous improvement.
Regular utilization of the entire infrastructure in several beta tests ensures that there are no unpleasant surprises. The availability of the server should be guaranteed around the clock.
Wide Usage and Global Accessibility
It is not surprising that ZenCash Coin is available on many platforms, such as YoBit or C-Cex and small file sharing. It is even possible to make a direct fiat currency purchase without an intermediate exchange.
This allows designers to set an example of being as flexible as possible.
In Conclusion: A Coin with Reliable Developers
Throughout the history of ZenCash Coin , the developers have remained true to their word. They have repeatedly managed to pleasantly surprise ZenCash users since the market launch. The high level of community activity and the rapid, positive changes speak for themselves.
Not only is this coin a winning option for mining, but it has also proven itself to be useful to the regular trader. If you keep an eye on the price, you will often find opportunities to make a large profit from selling.
Coin-Report.net was founded by Thomas Mücke.
With the help of Coin-Report.net magazine, he tries to bring light to the field of crypto-currency.