Difference and similarity with Bitcoin
Zcash and Bitcoin share many common characteristics. The number of coins in both currencies is fixed, halving every 4 years. The same maximum number of issued coins is 21,000,000 ZEC and BTC. New crypto, like Bitcoin, is created through mining. A separate block of the ztc cryptocurrency is mainly formed with a frequency of 150 seconds, during this period of time 12.5 new tokens are generated, that is, 50 new banknotes appear in 10 minutes – at the beginning of its existence, bitcoin was created in the same way. As in the case of Bitcoin, after 4 years, the total revenue for generating the block will be half as much.
But there are differences. The main thing was already mentioned at the beginning of the article – the absolute closeness of transaction information. This is exactly what new money was created for. Hash algorithms also differ, so the equipment for mining ZEC and bitcoins is incompatible. Zikesh also uses its own blockchain network and a rewarding method.
According to the founders of the company, miners will receive 80% of the planned income, and the creators and investors of the network – 20%. Such a separation of profits will occur until October 2020. During this time, it is planned to extract 10.5 million coins. The second half will belong only to the miners.
From the first day of its appearance on the market, ZCash took place in the top five of the most popular cryptocurrencies themselves but did not last long there. The ZCash rate is rather unstable, although the desire for growth is quite noticeable. In February 2017, the price of 1 ZEC fell to $ 29, and in June rose to $ 410. In November, zikesh was trading at the level of 300-360 dollars.
ZEC’s market capitalization in October was about $ 600 million, and daily trading volume was $ 7,000,000. According to experts, this indicates the optimistic prospects of Zcash.
Former ZEC lawyer Ted Moskowitz is confident that despite spikes in volatility, zikesh remains one of the most popular digital money with huge growth potential. Judging by the forecasts made by various experts, the Zcash rate will grow in the near future.
How to create a Zcash wallet
To get started with Zcash, you need to create a wallet. You can choose from several existing types: exchange, local, hardware. The easiest way to get a zikesh wallet on the exchange. The algorithm of actions is as follows:
- register an account;
- in the upper right corner click on the “wallet” tab;
- In the search, enter the name of the desired coin;
- after its appearance, put a “+” sign in this field;
- Click on the button “New address” and get the e-wallet number for storing, selling, buying or exchanging earned money.
Local wallets are created directly on the PC using the official application for Linux. Designed for the mining, Zcash software includes a built-in wallet for transferring and receiving crypto money.
The greatest security of Zet Cash storage, as well as other electronic money, is provided by the hardware wallet. Outwardly, it looks like a regular USB flash drive, which is enough to connect to a computer. It costs a hardware wallet for Zcash from 40 to 99 dollars.