A general overview of Zcash, its idea and future.
Zcash is a digital currency created in 2016. It differs from its predecessors in regards to transaction anonymity. The currency’s development, led by Zooko Wilcox, begun in 2014, but the project was only revealed to audience in 2016. From the very beginning, Zcash’s production equipment has attracted miners. And as soon as mining became available, miners switched to producing this coin.
To achieve full anonymity, the team used the zk-SNARK protocol, which allows users make both anonymous and open transactions. For this purpose, when a wallet is created, two keys are given: public and hidden.
Still, it is remarkable that the mechanism of this network is able to erase data of the transactions made immediately after its completion.
The ability for cryptocurrencies to provide anonymity is necessary for the crypto community, which makes Zcash quite popular.