Zcash, the virtual money making its mark

Zcash, the virtual money making its mark  #news #bitcoin

  • After debuting in October Zcash hit an exchange rate of $1,000 per unit, putting it in league with the much better established Bitcoin, the virtual currency pioneer

    Zcash, the latest virtual currency, has been a smash success since its launch seven months ago, drawing in new users with promises of unrivaled privacy protection.

  • After debuting on currency trading platforms in October, Zcash took off, hitting an exchange rate of $1,000 per unit, putting it in league with the much better established Bitcoin, the virtual currency pioneer created in 2009.
  • To make its mark in the world of virtual currencies, Zcash boasts that it protects user privacy.
  • Wilcox told AFP he hoped the expanded privacy protection could overcome businesses’ reluctance to adopt Zcash as a trustworthy alternative to traditional state-controlled currencies.
  • But Jonathan Levin, co-founder of Chainalysis, a start-up that helps banks and authorities trace the origins and destinations of virtual currency payments, doubts Zcash will find its place in the wider financial system.

Zcash, the latest virtual currency, has been a smash success since its launch seven months ago, drawing in new users with promises of unrivaled privacy protection.
Continue reading “Zcash, the virtual money making its mark”

New bitcoin rival promises anonymity for online purchases

  • According to Robinson, there is demand for greater anonymity among users of crypto currencies as more and more realize that bitcoin can be traced.
  • “Bitcoin has been accepted by regulators and government because there is some level of accountability,” explained Robinson.
  • Zcash launched last Friday and is currently worth $498 dollars per coin, in comparison to $706 for one bitcoin.
  • Robinson also pointed out that Zcash has been created by a private company, which – while it does not have to rely on the open-source community to develop the currency as with bitcoin — could potentially be sued by governments or regulators in order to reveal information.
  • Zcash uses a technique called “zero-knowledge proofs” to ensure coin exchanges are valid but without revealing extra information to either user.

A new cryptocurrency launched late last week, claiming to allow users to make online purchases anonymously.
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New bitcoin rival promises anonymity for online purchases

New #bitcoin rival promises anonymity for online purchases #Software #Currencies #Crime

  • According to Robinson, there is demand for greater anonymity among users of crypto currencies as more and more realize that bitcoin can be traced.
  • “Bitcoin has been accepted by regulators and government because there is some level of accountability,” explained Robinson.
  • Zcash launched last Friday and is currently worth $498 dollars per coin, in comparison to $706 for one bitcoin.
  • Robinson also pointed out that Zcash has been created by a private company, which – while it does not have to rely on the open-source community to develop the currency as with bitcoin — could potentially be sued by governments or regulators in order to reveal information.
  • Zcash uses a technique called “zero-knowledge proofs” to ensure coin exchanges are valid but without revealing extra information to either user.

A new cryptocurrency launched late last week, claiming to allow users to make online purchases anonymously.
Continue reading “New bitcoin rival promises anonymity for online purchases”

How to Get Zcash, Bitcoin’s Anonymous Baby Cousin

  • Zcash also notably addresses another of the biggest pitfalls of bitcoin and its ilk: that big corporations with tons of dedicated computers are pretty much the only ones with any shot at mining the cryptocurrency.
  • Zcash, which went live on Friday with version 1.0 “Sprout,” is essentially an experimental fork of bitcoin that attempts to address an inherent contradiction of the supposedly “untraceable” cryptocurrency.
  • A newly-launched cryptocurrency created by expert cryptographers holds the distinction of being the only one explicitly designed to provide bitcoin’s biggest missing feature: anonymity.
  • As Zcash’s creators put it: “If bitcoin is like http for money, Zcash is https,” referring to the now-ubiquitous secure protocol that protects a website’s visitors from eavesdropping.
  • A zero-knowledge proof is a way to mathematically prove a statement is true without revealing any of the information you’d normally need to prove it.

The most promising cryptocurrency since bitcoin is ready to be mined—if you dare.
Continue reading “How to Get Zcash, Bitcoin’s Anonymous Baby Cousin”

How to Get Zcash, Bitcoin’s Anonymous Baby Cousin

How to get Zcash, bitcoin’s anonymous baby cousin:

  • Zcash also notably addresses another of the biggest pitfalls of bitcoin and its ilk: that big corporations with tons of dedicated computers are pretty much the only ones with any shot at mining the cryptocurrency.
  • Zcash, which went live on Friday with version 1.0 “Sprout,” is essentially an experimental fork of bitcoin that attempts to address an inherent contradiction of the supposedly “untraceable” cryptocurrency.
  • A newly-launched cryptocurrency created by expert cryptographers holds the distinction of being the only one explicitly designed to provide bitcoin’s biggest missing feature: anonymity.
  • As Zcash’s creators put it: “If bitcoin is like http for money, Zcash is https,” referring to the now-ubiquitous secure protocol that protects a website’s visitors from eavesdropping.
  • A zero-knowledge proof is a way to mathematically prove a statement is true without revealing any of the information you’d normally need to prove it.

The most promising cryptocurrency since bitcoin is ready to be mined—if you dare.
Continue reading “How to Get Zcash, Bitcoin’s Anonymous Baby Cousin”

Jaxx blockchain wallet to Integrate Zcash

  • A powerful blast at a prefabricated house in northwestern China on Monday killed at least 14 people and injured 147, state news agency Xinhua said.
  • By Ethan Lou NEW YORK (Reuters) – Oil prices dipped on Monday, with U.S. crude falling below $50 per barrel, on news of the impending restart of Britain’s Buzzard oilfield and Iraq’s wish to be exempted from OPEC production cuts.
  • An Afghan national who has been living in the Calais ‘Jungle’ camp for more than a year has told Sky News he will do whatever it takes to get the UK. About 2,000 have been taken to centres around France after the first day of the police operation with about 4,500 others still left.
  • We will continue working around the clock to make these integrations and will include even more in the near future,” said Di Iorio.
  • Any data that you put in there is visible to all users of the blockchain.

Multi-platform blockchain wallet Jaxx will integrate the new privacy-centric Zcash blockchain into its suite of software platforms. Zcash uses zero knowledge proofs so that users will have the ability to make confidential and selectively disclosable transactions, powered by its cryptocurrency, ZEC.
Continue reading “Jaxx blockchain wallet to Integrate Zcash”