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Zcash is private, fast, and accessible to everyone. It is Bitcoin forked and uses zk-SNARKS (Zero-knowledge Succinct Non-Interactive Argument of Knowledge proofs for privacy.
Zcash is a digital currency like Bitcoin, but it protects a user’s privacy instead of exposing their financial history.
Zcash has a fixed supply of 21 million coins. Every 75 seconds, a new block is mined to the Zcash blockchain and a block reward of 3.125 ZEC comes into circulation.
Among the features included in the next Zcash network upgrade is Unified Addresses. The unified address (UA) is a future-proof Zcash address format that improves usability, increases the ease of interoperability, and supports shielding Zcash by default.
A zero-knowledge proof is a cryptographic method that can prove something to be true without revealing the facts that make it true.
Zcash was the first widespread application of zk-SNARKs, a novel form of zero-knowledge cryptography. Zero-knowledge” proofs allow one party (the prover) to prove to another (the verifier) that a statement is true, without revealing any information beyond the validity of the statement itself.
Zcash Scalability and transaction costs:
Block time -150 seconds
Transaction per second 6 to 27
Transaction fees- 0.0001 ZEC
ZECUSD showed a nice pullback after a minor correction.
Any daily close above $52 confirms further bullishness.
ZECUSD gained more than 30% in the past two days. The pair holds above the short-term (21 and 55 EMA) and the long-term moving average in the 4-hour chart. It hit a high of $33.67 and is currently trading around $33.51.
The bullish invalidation can happen if the pair closes below $25. On the lower side, the near-term support is $31.50.Any close below targets $27.80/$25.
The pair's near-term resistance is around $36. Any breach above confirms minor bullishness. A jump to $40/$45 is possible. A surge past $52 will take it to $60.
It is good to buy on dips around $28 with SL around $25 for TP of $52.
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