This project originated from the idea of Zerocoin / Zerocash, proposed in 2013.
Zcash was bifurcated from Bitcoin and launched in October 2016, and was previously known as Zeroco Zcash, is created by Zooko Wilcox executive director of Zerocoin Electric Coin Company, a company that is also responsible for the management and improvement of the protocols of this cryptocurrency, which in principle was a special privacy project for Bitcoin and that resulted in the creation of a very attractive alternative currency.
Zcash is a Bitcoin fork, its operating protocol is based on the same code as other cryptocurrencies such as bitcoin, an algorithm is solved by a computer to generate a new block of information that will be incorporated into the chain, making it larger and more complex.
It uses cryptography that, in theory, should provide privacy to its users. Cryptography, also known as cryptology, analyzes different protocols that prevent third parties, or the public, from reading private messages. The Zcash payments are published in a public blockchain, but the sender, the recipient and the number of transactions remain private. This quality gives Zcash a high degree of anonymity in the operation and transactions within the blocks of the chain that support it.
Nobody can guarantee that there are no errors in the system that allow to deanonize transactions or create currencies from nothing, unless it has been tried for years. Therefore, if coins are created, they will not even be detectable because, the total amount of coins in the ZCash block chain can not be verified.
The blockchain and the network track the amount of coins that are protected and do not care who decrements a portion later. The coins enter a large pool and when you take out a small piece, there is no way to correlate it with what went into the pool.
Zcash was initially an altcoin, an exact copy of the bitcoin code and its performance, then its own protocols were included so the platform offers two types of addresses, the T are addresses that show the information of the transactions in the chain and the Z are of the “armored” type that encrypt data related to accounts and users.
Everyone can use a BTC block browser to verify if a transaction has been sent from one BTC address to another. Zcash is private if the user chooses a z address. There is a special key view that can provide selective transparency.
Everyone seems excited by this cryptocurrency as it promises to be an alternative to Bitcoin that takes care of the privacy of users while offering it as a real business for investors, although its high privacy is not without its technological challenges.
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