Difference between revisions of "Zcash"

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(Redirected page to Zcash (ZEC))
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#redirect [[Zcash (ZEC)]]
{{Infobox_Company  <!-- Feel free to remove comments like this when you add real info -->
| company_name = Zcash Company
| company_logo =  [[Image:Zcash-logo.jpg{{!}}200px]]
| key_people =    [[Zooko Wilcox]], CEO
| foundation =    2016
| location =      Lakewood, CO (Headquarters)
| employees =      Approx. 50
| products =      ZEC
| twitter =        zcashco
| linkedin =      zcashco
| stocktwits =    ZEC.X
| facebook =      zcashco
| homepage =      [https://z.cash/ Zcash Homepage]
| press =          <!-- A link to where press releases can be found, or leave blank to omit -->
| blog  =          [https://blog.z.cash/ Zcash Official Blog]
Zcash (ZEC) is a [[cryptocurrency]] based on its own native [[blockchain]]. Its goal is to create a global, open economic platform that allows its users to make totally private payments.<ref>{{cite web|url=https://z.cash/support/faq.html|name=Frequently Asked Questions|org=Zcash|date=June 25, 2018}}</ref>
== Overview ==
While most cryptocurrencies are designed to provide users with [[Wallet|public and private keys, or addresses,]] Zcash provides a "view key" and a "spend key." The spend key is an encrypted virtual address that allows users to spend ZEC from their [[wallet]], while the view key is used to allow users to view information about each other's transactions. A user cannot view information about another user's ZEC transactions without that user's view key; it's similar to how two users of a messaging platform cannot send each other messages without knowing the recipient's email address or username. Zcash also allows users to deliver encrypted messages to other users, provided they have that user's view key. These messages are not viewable to anyone without the view key.<ref>{{cite web|url=https://cointelegraph.com/tags/zcash|name=Zcash News|org=Cointelegraph|date=June 25, 2018}}</ref>
=== zk-SNARKS bug ===
In February 2019, Zcash released a public report revealing that the company discovered a bug in Zcash's code that, while subtle, could have potentially done massive damage to the cryptocurrency by allowing users to digitally copy unlimited amounts of ZEC. The bug was discovered by Zcash cryptographer Ariel Gabizon in zk-SNARKS, a portion of code used to shield user's balances and identities from being publicly discoverable. The company took care to prevent the bug from becoming publicly-known while developing a fix for it, quietly adding it to Zcash's "Sapling" upgrade in October 2018.<ref>{{cite web|url=https://www.coindesk.com/zcash-team-reveals-it-fixed-a-catastrophic-coin-counterfeiting-bug|name=Zcash Team Reveals It Fixed a Catastrophic Coin Counterfeiting Bug|org=Coindesk|date=February 6, 2019}}</ref>
== Background ==
According to the FAQ page on the official Zcash website, under the subheading "What is the difference between Zcash and [[Bitcoin]]," Zcash began as a [[fork]] of bitcoin. It is being developed by the Zcash Company.<ref>{{cite web|url=https://z.cash/support/faq.html|name=Frequently Asked Questions|org=Zcash|date=June 25, 2018}}</ref> The Zcash Company was founded by [[Zooko Wilcox]] in 2016.<ref>{{cite web|url=https://z.cash/team.html|name=About Us|org=Zcash|date=June 25, 2018}}</ref><ref>{{cite web|url=https://www.linkedin.com/company/zcashco/|name=Zcash Company|org=Linkedin|date=June 25, 2018}}</ref>
== References ==
<references />

Latest revision as of 14:05, 16 September 2019

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