Zcash was established in 2016 by Zooko Wilcox-O'Hearn, a cypherpunk, computer security expert, and entrepreneur. Zooko is also the founder of the for-profit Electronic Coin Company (ECC), which oversees the development of Zcash. With over 25 years in the fields of cryptography and information security, Wilcox-O’Hearn has made significant contributions to various projects, including the now-defunct electronic money firm DigiCash, the peer-to-peer data storage software Mojo Nation, and the Tahoe Least-Authority File Store filesystem. Additionally, he founded Least Authority Enterprises, a technology company dedicated to enhancing digital security and safeguarding the fundamental right to privacy. He also co-invented the BLAKE3 cryptographic hash function.

Zcash offers a significant advantage through its optional anonymity feature, which provides a level of privacy that is not achievable with typical pseudonymous cryptocurrencies such as Bitcoin or Ethereum. ZEC transactions can be conducted in two forms: transparent and shielded. Transparent transactions operate similarly to Bitcoin transactions, as Zcash was initially developed based on Bitcoin's codebase. These transactions occur between public addresses and are documented on an immutable public ledger, known as the blockchain. Essential details about these transactions, including the sending and receiving addresses and the amount transacted, are publicly accessible online. While these public transactions do not openly disclose user identities, the only identifiers available to outsiders from the blockchain are public addresses. However, recent advancements by data scientists and law enforcement in blockchain analysis have made it possible to reliably associate a public address on a blockchain with the real-world identity of its owner, essentially rendering private transactions infeasible. In contrast, shielded ZEC transactions utilize the technology of zero-knowledge succinct non-interactive arguments of knowledge, or zk-SNARKs, enabling fully anonymous transactions to be conducted over a public immutable blockchain. Although the occurrence of the transaction is recorded on the ledger, the specific sending and receiving addresses, as well as the transaction amount, are not disclosed to the public. This capability allows Zcash to provide users with privacy rights while retaining the benefits of a decentralized, permissionless digital currency.

Zcash tokenomics closely resembles that of Bitcoin: it is a limited mineable token with a maximum supply of 21 million coins. New ZECs are generated through "block subsidies": each time a new block is mined and included in the blockchain, a specific number of coins is created and allocated between the "miner subsidy" and the "founders’ reward" in an 80 to 20 percent ratio, respectively. The block subsidy periodically undergoes halving to decelerate the issuance rate as the total ZEC supply nears its cap of 21 million. The miner subsidy is allocated to the miner responsible for mining the most recent block, while the founders’ reward is distributed among the Electronic Coin Company (ECC) founders, the Zcash Foundation, and ECC itself, along with its employees. On November 18, 2020, a block subsidy halving reduced it from 6.25 ZEC to 3.125 ZEC, triggered at block 1,046,400. This change was part of the Zcash Canopy upgrade, which also eliminated the Founders Reward. Consequently, the remaining 20% is now divided among the Major Grants Fund, ECC, and the Zcash Foundation, at proportions of 8%, 7%, and 5%, respectively. The upcoming fifth Zcash network upgrade, Zcash NU5, is projected to launch on the testnet on September 30, 2021. Since its inception, there has been significant interest in the ZEC to AUD and ZEC to EUR price pairs.

Zcash utilizes the proof-of-work SHA-256 hash function to secure its network, which is a part of the SHA-2 family of algorithms, similar to Bitcoin.

Zcash is a prominent cryptocurrency available for purchase on several leading exchanges, including: * Binance * HitBTC * Huobi Global * BKEX * OKEx For more information, please refer to Eulerpool.