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Zcash

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This article is about Zcash (cryptocurrency), not about Zerocoin. For that, see Zerocoin.

Zcash
Zcash logo
Unit
SymbolZEC‎
Demographics
Date of introduction28 October 2016; 8 years ago (2016-10-28)
User(s)Worldwide

Zcash is a decentralized and open-source cryptocurrency that offers privacy and selective transparency of transactions. Zcash payments are published on a public blockchain, but the sender, recipient, and amount of a transaction remain private.[1][2]

History

Starting in 2014, the Zcash protocol (briefly know as "Zerocash") was developed through a collaboration between the original Zerocoin researchers at John Hopkins University and a group of cryptographers at MIT, the Israel Institute of Technology, and Tel Aviv University, who together were able to improve upon the original design by making it more efficient and more anonymous.[3]

The Zcash porject was formally announced by CEO Zooko Wilkox on Jan 20, 2016, as an evolution of the existing Zerocoin project (the work of Matthew Green, Ian Miers, Christina Garman, Aviel D. Rubin, at The Johns Hopkins University Department of Computer Science, Baltimore)

"With the new Zerocash protocol, unlike the old Zerocoin protocol, users can make direct payments to each other with a vastly more efficient cryptographic protocol that also hides the amount of the payment, not just its origin."

This new protocol by Eli Ben-Sasson, Alessandro Chiesa, Christina Garman, Matthew Green, Ian Miers, Eran Tromer, and Madars Virza produced a coin which would no longer be an “Add-On” to the original Bitcoin but instead would be a new full-fledged digital currency.

The first mining of ZEC is due to commence with the release of the 1.0.0 "Sprout" release on October 28, 2016.[4][5]

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See also

References

  1. ^ Jon Southurst (7 June 2016). "Snowden: Anonymous 'Zcash' Could Solve Bitcoin Surveillance Risks". Bitcoin.com. Retrieved 8 October 2016.
  2. ^ "Zcash - About". Retrieved 8 October 2016. Zcash is a decentralized and open-source cryptocurrency that offers privacy and selective transparency of transactions. Zcash payments are published on a public blockchain, but the sender, recipient, and amount of a transaction remain private.
  3. ^ Eli, Ben-Sasson (2014). Zerocash: Decentralized Anonymous Payments from Bitcoin (extended version) (PDF).
  4. ^ Nathan Wilcox (15 August 2016). "Zcash Launch and Roadmap". Retrieved 9 October 2016.
  5. ^ Zcash Company (18 August 2016). Twitter https://twitter.com/zcashco/status/766055061134843904. Retrieved 9 October 2016. {{cite web}}: Missing or empty |title= (help)


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