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Information about Zcash (ZEC)
Zcash is a decentralized cryptocurrency that addresses privacy and anonymity concerns. It was first released in 2016 and is based on the Bitcoin technical foundation.
The majority of cryptocurrencies on the market increase transparency by encoding user addresses and transaction details into a string of characters and making these codes publicly available so that anyone can look them up.
Zcash coin (ZEC) was created to improve the security and transparency of decentralized transactions by utilizing zk-SNARK’zero-knowledge proof technology to conceal sending and receiving addresses as well as the amount of money sent. As a result, Zcash allows users to trade ZEC in either a “private” or “public” state.
ZEC is an abbreviation for Zcash coin. ZEC can be used to pay for goods and services in places that accept this coin. ZEC is also involved in the following Custody services: Bitgo Custody, Coinbase Custody, and Digital Asset Custody. Furthermore, ZEC is used to compensate “miners” for their efforts.
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