What is ZEC?
Zcash (ZEC) debuted on the 28th of October 2016. ZEC is the first cryptocurrency based on a zero-knowledge proof protocol. The blockchain of the coin records the fact of the transaction but encrypts information about the amount and the wallets of the sender and recipient.
ZEC creators took the original Bitcoin protocol as a basis but added a number of features with which they managed to achieve total anonymity. Privacy is the responsibility of a technology that was developed back in the 1980s – zk-SNARK. With its help, you can encrypt all data about the transaction, except for the time of its execution. For example, in the Bitcoin distributed ledger, all data is public (the sender and recipient addresses, transaction amount, and wallet balances).
ZEC is an anonymous cryptocurrency that can provide a high level of security.
In the first days after its listing, the rate increased from $530 to $1600, after which a correction up to $27 followed. In May 2021, the cost of one coin reached $318. Use the WhiteBIT functionality to find out the current price of ZEC.
The Zcach project has several major partners (JPMorgan, StarkWare Industries, Pundi X, AirTM, WikiLeaks, and Parity Technologies), and the team is actively working to widen this list.
In addition to big partners, there is a demand for ZEC among users.
The creators of Zcash are working to improve the network’s performance. For this, they want to move to the Proof of Stake consensus protocol. This will significantly increase the network’s bandwidth. This may have a positive impact on the price of ZEC.
How to buy ZEC?
ZEC is on the list of coins traded on the WhiteBIT cryptocurrency exchange. You do not need to open a separate ZEC wallet to buy it. You just need to take a few simple steps:
- log in to your account on the WhiteBIT website, or create one if you do not have it yet. The registration process will take no more than five minutes;
- go to the Trade section;
- find the right cryptocurrency pair;
- create an order.
If you choose a Market order, it will be executed instantly. And if you select a Limit order, it will be executed when the specified price is reached.