Zcash (CURRENCY:ZEC) traded up 5.9% against the U.S. dollar during the twenty-four hour period ending at 14:00 PM Eastern on August 11th. One Zcash coin can currently be bought for $59.89 or 0.00524642 BTC on cryptocurrency exchanges including BiteBTC, Bitfinex, Cryptohub and Binance. Over the last seven days, Zcash has traded 8.3% lower against the U.S. dollar. Zcash has a total market cap of $429.37 million and $128.30 million worth of Zcash was traded on exchanges in the last 24 hours.
Here’s how other cryptocurrencies have performed over the last 24 hours:
- Bitcoin Gold (BTG) traded 4% higher against the dollar and now trades at $15.59 or 0.00136603 BTC.
- Horizen (ZEN) traded 3.5% lower against the dollar and now trades at $6.02 or 0.00052729 BTC.
- ZClassic (ZCL) traded down 2.4% against the dollar and now trades at $0.35 or 0.00003065 BTC.
- CrypticCoin (CRYP) traded 1.9% lower against the dollar and now trades at $0.0008 or 0.00000007 BTC.
- Bitcoin Private (BTCP) traded down 11.4% against the dollar and now trades at $0.25 or 0.00002206 BTC.
- BitcoinZ (BTCZ) traded 4.9% lower against the dollar and now trades at $0.0002 or 0.00000002 BTC.
- Bitcoin Interest (BCI) traded up 20.7% against the dollar and now trades at $0.0598 or 0.00000524 BTC.
- Zero (ZER) traded 0.3% lower against the dollar and now trades at $0.0676 or 0.00000592 BTC.
- Hush (HUSH) traded down 6.9% against the dollar and now trades at $0.0342 or 0.00000300 BTC.
- Bitgem (BTG) traded flat against the dollar and now trades at $2.79 or 0.00034116 BTC.
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. “
Buying and Selling Zcash
Zcash can be bought or sold on these cryptocurrency exchanges: LiteBit.eu, Altcoin Trader, Bitlish, Tux Exchange, Sistemkoin, Instant Bitex, Huobi, Bitfinex, CoinExchange, Coinroom, BTC-Alpha, Liquid, Bittrex, Bithumb, HitBTC, YoBit, OKEx, Bit-Z, BTC Trade UA, Gemini, Trade Satoshi, Waves Decentralized Exchange, Upbit, Mercatox, CoinEx, Braziliex, BigONE, Graviex, WEX, Kuna, Ovis, Cryptopia, BX Thailand, Coinrail, Exmo, Allcoin, OTCBTC, Cryptomate, BCEX, Poloniex, Crex24, Bitinka, BiteBTC, GOPAX, Kraken, Binance, Coinut, LBank, Gate.io, C2CX, BitBay, Cryptohub, CEX.IO and LocalTrade. It is usually not presently possible to purchase alternative cryptocurrencies such as Zcash directly using US dollars. Investors seeking to acquire Zcash should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Coinbase or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Zcash using one of the exchanges listed above.
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