On 28-Oct-2016, there is a new anonymous cryptocurrency has been released. ZCash is an anonymous cryptocurrency that uses zk-snarks to ensure that all the information regarding user transactions is safely encrypted, while still verifiable by miners that can ensure no double-spending has taken place using zero knowledge proofs. Will it be the next replacement of bitcoin?
The first Zcash client has been released, and is currently available as a command-line tool for Linux. Visit our download page to try it out. Please note that Zcash is based on peer-reviewed cryptographic research, but it is still an experimental technology. Join our community Slack to follow ongoing development, or visit the technology page to learn more about the Zcash protocol.
In the event of a critical security vulnerability, we will post a notification on this website. In addition, our Twitter page will broadcast up-to-date information, and the Zcash client's built-in alert system may be activated. File an issue or email us to report any bugs.
If Bitcoin is like http for money, Zcash is https. Zcash offers total payment confidentiality, while still maintaining a decentralized network using a public blockchain. Unlike Bitcoin, Zcash transactions can be shielded to hide the sender, recipient, and value of all transactions on the blockchain. Only those with the correct view key can see the contents. Users have complete control and can opt-in to provide others with their view key at their discretion. Zcash transactions do not depend on the cooperation of other parties.
HOW DOES IT WORK?
Zcash encrypts the contents of shielded transactions. Since the payment information is encrypted, the protocol uses a novel cryptographic method to verify their validity.
Zcash uses a zero-knowledge proof construction called a zk-SNARK, developed by our team of experienced cryptographers. These constructions allow the network to maintain a secure ledger of balances without disclosing the parties or amounts involved. Instead of publicly demonstrating spend-authority and transaction values, the transaction metadata is encrypted and zk-SNARKs are used to prove that nobody is cheating or stealing.
The first Zcash client has been released, and is currently available as a command-line tool for Linux. Visit our download page to try it out. Please note that Zcash is based on peer-reviewed cryptographic research, but it is still an experimental technology. Join our community Slack to follow ongoing development, or visit the technology page to learn more about the Zcash protocol.
In the event of a critical security vulnerability, we will post a notification on this website. In addition, our Twitter page will broadcast up-to-date information, and the Zcash client's built-in alert system may be activated. File an issue or email us to report any bugs.
WHAT IS ZCASH?
If Bitcoin is like http for money, Zcash is https. Zcash offers total payment confidentiality, while still maintaining a decentralized network using a public blockchain. Unlike Bitcoin, Zcash transactions can be shielded to hide the sender, recipient, and value of all transactions on the blockchain. Only those with the correct view key can see the contents. Users have complete control and can opt-in to provide others with their view key at their discretion. Zcash transactions do not depend on the cooperation of other parties.
HOW DOES IT WORK?
Zcash encrypts the contents of shielded transactions. Since the payment information is encrypted, the protocol uses a novel cryptographic method to verify their validity.
Zcash uses a zero-knowledge proof construction called a zk-SNARK, developed by our team of experienced cryptographers. These constructions allow the network to maintain a secure ledger of balances without disclosing the parties or amounts involved. Instead of publicly demonstrating spend-authority and transaction values, the transaction metadata is encrypted and zk-SNARKs are used to prove that nobody is cheating or stealing.
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