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Zcash: a new standard for privacy and anonymity

Fri Jan 29, 2016 1:15 pm

WHAT IS ZCASH?

Zcash offers total payment confidentiality, while still maintaining a decentralized network using a public blockchain. Unlike Bitcoin, Zcash transactions automatically hide the sender, recipient, and value of all transactions on the blockchain. Only those with the correct view key can see the contents. Users have complete control and can opt-in to provide others with their view key at their discretion.

Zcash transactions do not depend on the cooperation of other parties. Additionally, full nodes in the Zcash network only need to store a small persistent state.

HOW DOES IT WORK?

Since the contents of Zcash transactions are encrypted and private, the system uses a novel cryptographic method to verify payments.

Zcash uses a zero-knowledge proof construction called a zk-SNARK, developed by our team of experienced cryptographers. These constructions allow the network to maintain a secure ledger of balances without disclosing the parties or amounts involved. Instead of publicly demonstrating spend-authority and transaction values, the transaction metadata is encrypted and zk-SNARKs are used to prove that nobody is cheating or stealing.
Learn more at Z.cash
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Re: Zcash: a new standard for privacy and anonymity

Fri Jan 29, 2016 9:14 pm

WHAT IS ZCASH?

Zcash offers total payment confidentiality, while still maintaining a decentralized network using a public blockchain. Unlike Bitcoin, Zcash transactions automatically hide the sender, recipient, and value of all transactions on the blockchain. Only those with the correct view key can see the contents. Users have complete control and can opt-in to provide others with their view key at their discretion.

Zcash transactions do not depend on the cooperation of other parties. Additionally, full nodes in the Zcash network only need to store a small persistent state.

HOW DOES IT WORK?

Since the contents of Zcash transactions are encrypted and private, the system uses a novel cryptographic method to verify payments.

Zcash uses a zero-knowledge proof construction called a zk-SNARK, developed by our team of experienced cryptographers. These constructions allow the network to maintain a secure ledger of balances without disclosing the parties or amounts involved. Instead of publicly demonstrating spend-authority and transaction values, the transaction metadata is encrypted and zk-SNARKs are used to prove that nobody is cheating or stealing.
Learn more at Z.cash
Good find and very cool. I sent this link to one of my guys to throw it on a dev server to test it out. They have some technology I'd like to borrow ;)

Will let you guys know how Zcash goes!
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kingscrown
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Re: Zcash: a new standard for privacy and anonymity

Fri Jan 29, 2016 9:39 pm

I will surely invest in Zcash
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Re: Zcash: a new standard for privacy and anonymity

Sun Jan 31, 2016 12:09 am



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Re: Zcash: a new standard for privacy and anonymity

Tue Feb 16, 2016 3:16 am

it will be interesting to see how they pull off that 10% from blockchain funding straight to that 'company'
i double they community will go for that ! (centralised company running the show ?)
too much money into too few hands with no control how they (and if or what) will spend that !

kingscrown
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Re: Zcash: a new standard for privacy and anonymity

Tue Feb 16, 2016 4:37 am

I love this concept. Will surely invest.
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Re: Zcash: a new standard for privacy and anonymity

Tue Mar 15, 2016 9:30 pm

hopefully the zksnarks are generated safely and privately such that nobody can rampantly generate whatever zcash they desire.

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Re: Zcash: a new standard for privacy and anonymity

Thu Nov 10, 2016 9:45 pm

I didn't get the wallet Zcash for windows
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Re: Zcash: a new standard for privacy and anonymity

Fri Mar 29, 2019 11:26 am

ZCash is a fantastic crypto and well worth trying out. It's privacy features on top of everything else, and reasonably fast confirmation times makes it worthwhile.

If you've ever wanted to become a miner, start with ZCash and an ASIC (forget GPU rigs). Get a decent second hand one. Even with fairly outrageous electricity prices, you'll likely be profitable and the machine will pay itself off within a year, and the ASIC will still be good for ZCash (on the promise of ZCash developers not to change the mining algorithm, or give plenty of notice if they ever do). If you want, rent the ASIC out to others and get paid directly in Bitcoins every day at Nicehash.

I started with ZCash before Bitcoin mining since electricity prices didn't make it viable at all. The ZCash ASICs are power friendly at the moment, and for example check the profitability of a reasonably priced Innosilicon A9 ZMaster (like the one in my picture). Change your currency at asicminervalue.com and put in your electricity cost, and check nicehash.com/profitability-calculator. Don't pay any more than USD$1500 for an A9, the A9+ is out (but too expensive, forget it) and the A9++ is coming soon, but isn't well priced in comparison to the Bitmain Antminer Z11 machines. Unfortunately they are all sold out right now, so you will have to jump on the new batches if they come, see for example miningcave.com.

So even in countries with "first world problems" (like very high electricity costs, e.g. ~ US 20c per kWh) you could be profitable and eventually start a small mining business and with minimal investment, get a ROI and make beer money out of thin air. :D

Having said that, please do your own research and this is not to be construed as investment advice, etc. Be careful, mining is full of potential pitfalls. If you have never mined before, don't do it until you are confident you can plug the machine in, configure it and get it going. Know how to pay yourself, how to exchange between ZCash and BTC if you want to do that, how to restore wallets, cold storage and so on.

Go ZCash! :D
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