The peculiarity of the modern financial market is the ability to send payments online: all operations are carried out with the office or home computer. To conduct settlements in the network requires a special monetary unit – cryptocurrency. In recent years, the number of Internet payments increased significantly, and therefore increased the demand for electronic money. new payment systems have appeared, emitting its own digital coin.
One of these services – Zcash. It was launched in 2016, in the autumn. Yet we can not say that the payment system is fully ready for operation: on the improvement of some of its functions to developers still have to work hard. Around this system was a lot of controversy. Some experts have argued that the payment system will not be able to survive in a competitive environment, others talked about Zcash, as a forward-looking system that can create a liquid and efficient electronic currency.
The revision needs of the technical service. Now programmers aim is to provide reliable protection of transactions and assets stored in the electronic purse system participants. You need to work on, and productivity.
Naturally, shortcomings are the bait for hackers, who do not mind getting a “fast pay”. But it is doubtful whether the fraudsters will be able to penetrate the system. Already it is clear that the project developers are making maximum efforts to avoid the treacherous intervention.
It is difficult to talk and how difficult Zcash-mining. cryptocurrency creators want to make their services available to all users of the Network. People who want to earn on the “production” of coins, do not have to buy expensive devices. For mining, you can use an ordinary laptop.
Features and service work algorithm Zcash
Zcash online platform allows users to carry out remote payments via the Internet. ZEC monetary units used for intra-system settlements. Service guarantees its users complete privacy. Zcash operates on a decentralized scheme. Applicable distributed public registry (blockchain).
Any transaction which has passed through the system, hidden from prying eyes. Data on recipients and senders are classified information, to calculate them is almost impossible. Access to information is only open to those members of the system, which have a unique key (ie. E., Account owners). If necessary, the user can transfer your key to anyone.
How the system works?
Absolutely all of the transactions passed through a special program that encrypts information. For identification of payments using a special technology, which is a proprietary cryptographers Zcash.
Another authoring technology is zk-SNARK. This “proof 0 vym-disclosure.”
In many services, specializing in e-currency transactions are available for public viewing. Zcash provides its customers with complete anonymity. This is possible thanks to the technologies listed above. It is this feature distinguishes Zcash kriptovalyutnyh from other platforms.
The components of the transaction
Carrying out financial transactions, many consider the most important component of such payments as:
- number (or address) of the payer and the recipient;
- size balance;
- transaction costs (fees).
But there is another component that is no less important. This memo Field – an additional field. It is from this component depends on the preservation of client payment data.
Zero-knowledge proof is used to check the veracity of the payment transaction. This component is required and the availability of sufficient funds, and when they are sent. Thanks to this technology, encrypted graying can be checked without decoding.
The system uses hidden and open addresses. Recognize them very easily. Hidden address will begin with the Latin bukovki z. These addresses are called z- addrs.
For transactions made with public addresses, use special technology Transparent Value Pool (TVP). Information about the sender and the destination will be available to public viewing. Recognize public address can be in the letter t. Public addresses are called t-addrs.
All fees that are charged for to make payments, also pass through the TVP. They are stored in a distributed registry (blokcheyne). In the event that the owner of a transaction conducted latent address (z-addrs), commission payments recorded in hidden from publicity.
whether users can change their addresses Zcash?
Carrying out a financial transaction, which amount is different from other transactions, the user should be aware that the entire balance will be debited from the account. To get change, you need to generate another address. This scheme works typical for protocols which are based laid distributed registry (blockchain).
Of course, money can come back to the same account from which they were sent. But if you do not want to expose payment information to the public, it is better to create an alternate address.
At no additional Zcash not need to create addresses. If the funds have been transferred from a hidden address, anonymity is preserved even if the submission of returns to the sending account. Hidden addresses are designed for multiple use.
Can I transfer funds from an open to a hidden address?
In Zcash there is another characteristic that is not found in other systems kriptovalyutnyh. This difference in the balance of characteristics. The properties of addresses affected by such factors:
- account type (hidden or open), on which the funds;
- type of account, from which the coins were listed.
Let us analyze a few options:
- The money is kept in the open address. View balance can any client system. No matter what the address of any transfers, payments, information will be open for public viewing.
- Sending money to open an account on the hidden. This method is the least threat. Communication between the public address interrupted. Once the money will go to the hidden account, payments will be anonymous. Third-party users can only see that the money hidden in the account was, but on the details of the translation nobody knows.
- Sending cryptocurrency with hidden addresses at the opening. In this case, confidentiality is guaranteed only to the sender. Information about the owner of the public address is available to the Internet community: billing information will be recorded in blokcheyn.
After the launch of service weaknesses in safety seats were found. At the time of removal of the cache error occurs. As a result, could occur a chain branching, and the system would become easy prey for scams. In connection with this administration Zcash decided to upgrade the security system and strengthen the protective functions.
Update fixed the problem. The developers appealed to Zcash customers to update their computers software.
E-wallet – it is an integral part of working with cryptocurrency. Zcash creators of electronic money offer download virtual wallets on computers running Linux. But this does not mean that the owners of a Windows operating system, the devices will not work with the client program. You just need to go to any exchange cryptocurrency (for example, Poloniex) and download the software from there. Just a few steps, and the user can send anonymous payments.
Step 1. First we need to create an online Exchange account. The registration procedure is standard, so the difficulties should arise.
Step 2. Now it is necessary to open a personal account, find and select the category Balances Deposit & Withdraw.
Step 3. In the window that opens, you need to find electronic money Zcash. After pressing the buttons Deposit, the system generates an address of the virtual wallet.
That’s all – e-Wallet is ready for use. Private rooms are equipped with user options:
- tracing the history of payments;
- I / O or other exchange Zcash cryptocurrency.
Place Zcash cryptocurrency on the market
Digital Coin Zcash came just a few months ago on the financial market. But in spite of their youth, they were able to take their rightful place. Cryptocurrency this system enjoys great demand among consumers. It bought and sold. It is represented in the major stock exchanges, which are engaged in the implementation of electronic bills.
An interesting trend among investors: they seek to redeem the tokens even before they go on exchange services. In many markets it can be done legitimately. BitMEX Exchange has partnered with Zcash leadership.
Do I have to buy Zcash?
To become the owner of the token, they do not necessarily buy. Cryptocurrency can be obtained with a special program-miners.
Mining (extraction) Zcash coins performed using Equihash algorithm. In early autumn 2016, even before the launch of the system, launched a test version of the Miner. The money obtained by using the test version, can not be used to pay for, but the newly formed cryptocurrency attracted users.
bills administration has decided to announce a competition among its users to create a better program for generating virtual coins. Participants were many, but the prizes are only five. The winners received a cash reward. Miner has been tested and approved by the organization mayningovoy Genesis Mining, which customers have to buy the program and apply them to produce Zcash currency.
Mayningovaya model Zcash: distinguishing features
Model of mining Zcash, although it resembles something Bitcoin model has its own characteristics. First of all – this is the time allowed for the creation of the unit, and a step change in complexity. Mining will start slowly. Fee increases gradually. When creating the first 20 thousand nodes value of 1 unit would rise from 0 to 12.5 coins.
The slow start is a necessary measure. Using this mechanism, the developers were able to eliminate irregularities in the security system and to take risk management protocol into their own hands.
After 4 years will decrease in the fee. In the early days of the extracted monetary units receive cryptocurrency makers: 20% of the coins earned miner, will come to their accounts. After 48 months, users will receive all the ZEC, which they were able to obtain. The developer plans to release 21 million monetary units. Tenth of them will belong to the system administration.
Claymore Zcash – is a program designed for the “production» ZEC. Miner can be installed on Windows computers. To work need a video card. The program has excellent quality characteristics, such as stability and performance.
Why should Mein coins Zcash?
- At the beginning of November 2016 for 1 Create a user unit received 4.2 The price is low, but it is not final. Cost units grew daily: in just a few weeks, miners began to receive 12.5 ZEC / unit. This price be fixed for 4 years.
- Mining Zcash requires little energy expenditure. Hardware is a small load.
- Coins on the e-wallet comes after every payout pool.
Zcash – this is a very young cryptocurrency and the course it is very volatile. After the first issue coins were very expensive – 1 unit was evaluated in 3 tysyachi PTS. Demand for ZEC was high. But then the price has fallen to 48 per 1 BTC ZEC.
Within a few months of existence cryptocurrency observed sharp rate jumps up and down. Now the currency is estimated at no more than 0.8-0.9 per 1 BTC ZEC.