Zcash
Symbol
ZEC

Descrption:The Zcash Company aims to set a new standard for privacy through the use of groundbreaking cryptography.In an open and programmable financial system, privacy is the only way to ensure fungibility and guarantee that cryptocurrency can be interchangeable as a fluid medium of exchange for users. Companies need the protection of privacy along their supply chain in order to conduct their business, especially in the context of public blockchains. In addition, we believe that personal privacy is necessary for core human values like dignity, intimacy, and morality.

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evaluation
Information
WebSite https://z.cash/
GitHub zcash/zcash
Update Date 2018 Aug 15 10:08:24
Market
Circulating Supply 4,875,969
Total Supply 4,875,969
Max Supply 0
Price $128.74333
Volume 24h $128,141,752
Market Cap $627,748,420
Change 24h -8.12%
Update Date September 26th 2018, 1:36:30 am

Zerocash: Decentralized Anonymous Payments from Bitcoin

v1

Principle and design goals

Zerocoin: a decentralized mix. Miers et al. [MGGR13] proposed Zerocoin, which extends Bitcoin to provide strong anonymity guarantees. Like many e-cash protocols (e.g., [CHL05]), Zerocoin employs zero-knowledge proofs to prevent transaction graph analyses. Unlike earlier practical e-cash protocols, however, Zerocoin does not rely on digital signatures to validate coins, nor does it require a central bank to prevent double spending. Instead, Zerocoin authenticates coins by proving, in zero-knowledge, that they belong to a public list of valid coins (which can be maintained on the block chain). Yet rather than a full-fledged anonymous currency, Zerocoin is a decentralized mix, where users may periodically “wash” their bitcoins via the Zerocoin protocol. Routine day-to-day transactions must be conducted via Bitcoin, due to reasons that we now review

Technology implementation

Consensus mechanism


Accounts and transactions

The user-facing building blocks of a Zcash transaction can be broken down into sending and receiving addresses, account balances and transaction fees. More complex transaction components are explored in our protocol specification so we’ll avoid those concepts for now. 

The diagram above shows the process of sending and receiving ZEC as part of a transaction. The use of shielded addresses – whether sending or receiving – requires the generation of a zero-knowledge proof which allows others to verify a transaction’s encrypted data without it being revealed. (More detail on how this works will be discussed in an upcoming post on the inner workings of transactions between shielded addresses.) These addresses always start with a “z” and are sometimes referred to as “z-addrs”. Similarly, the use of transparent addresses require interaction with what is known as a “Transparent Value Pool” (or TVP) and publicly reveals transaction data. These addresses always start with a “t” and are sometimes referred to as “t-addrs”. The transaction fee also passes through the TVP and is therefore always visible on the blockchain. Even though fees are always revealed in a transaction, shielded addresses and value are not affected as shown in the following real Zcash transaction.

Smart contract system

Existing blockchain-based cryptocurrencies such as Bitcoin and Ethereum store all financial transactions in the clear on the blockchain. This compromises the privacy of financial transactions, which is essential in numerous applications.

      Hawk is a blockchain-based smart contract system that stores encrypted transactions on the blockchain, and relies on cryptography to retain the security of the cryptocurrency.

Cryptography

Distributed storage protocol

Cross-chain and exchange technology

Special technology


Economic model and incentive

Governance mechanism

Applications

Contributors

No contributors information for the version. to see perfessional version!

Comment

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