Difference between revisions of "Zcash"

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(Overview)
(Overview)
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== Overview ==
 
== Overview ==
  
Zcash is a cryptocurrency based off of bitcoin's code that is designed to offer greater privacy than bitcoin. 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>
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Zcash is a cryptocurrency based off of bitcoin's code that is designed to offer a greater degree of privacy than bitcoin. 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 ===
 
=== zk-SNARKS bug ===

Revision as of 15:50, 22 April 2019


Zcash Company
Zcash-logo.jpg
Founded 2016
Headquarters Lakewood, CO (Headquarters)
Key People Zooko Wilcox, CEO
Employees Approx. 50
Products ZEC
Twitter @zcashco
StockTwits ZEC.X
LinkedIn Profile
Facebook zcashco
Website Zcash Homepage
Blog 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.[1]

Overview

Zcash is a cryptocurrency based off of bitcoin's code that is designed to offer a greater degree of privacy than bitcoin. While most cryptocurrencies are designed to provide users with 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.[2]

zk-SNARKS bug

In February 2019, Zcash released a public report on their blog revealing that the company had 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 the code of zk-SNARKS, a type of cryptographic technology used to shield users' 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.[3][4]

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.[5] The Zcash Company was founded by Zooko Wilcox in 2016.[6][7]

References