Amid thousands of cryptocurrencies being introduced, two of the latest of them have been popular since their launch. ZenCash and Zcash are new coins which came to existence as a result of solving the privacy concerns surrounding cryptocurrencies. According to a protocol that cryptocurrencies follow, coins are mixed with an intention to embody the tracks for receiver and sender. However, this mixing has never been temper proof and is able to decrypt with the advancement of software technology. Once the patterns and involved connections are unveiled, the cracked code reveals all the information about the sender and the receiver, leaving no confidentiality behind.
When the fear of losing information overtook, the need of developing Zcash and Zencash rose and resulted into their existence. Both the coins follow the zero-knowledge proof algorithm, which is also known as zk-SNARKS. The fact behind the success of Zcash and ZenCash is their level of impenetrable confidentiality that does not divulge any information of the sender and receivers’ addresses. Today, we’re going to talk more about the popular new cryptocurrencies to help you understand with trading.
- Zcash was the first developed coin based on the zero knowledge proofs algorithm, which is also known as zk-SNARKS.
- Zcash consists of two major groups i.e. developers and miners. Where the developers receive theri 20% for the first four years and then it drops to 10%, the miners, on the other hand, receive 80% and then after four years it becomes 90%.
- Zcash allows the maximum message length to be only 512 bytes. However, this message is incredibly secure whether its encrypted or not.
- Normal nodes of Zcash which don’t put stringent measures over the communication. It means that it’s not compulsory for every message to be encrypted all the time.
Also Read: How to Mine ZCash!
- ZenCash is derived from the Zclassic cryptocurrency, which is a fork of Zcash. It makes ZenCash a new cryptocurrency and an improved version of Zcash, which was made by upscaling the zk-SNARKS system.
- With improved node security, ZenCash puts very stringent measures to communicate with obligatory setup requirements, making encryption not an option but a compulsion.
- ZenCash Secure Nodes have in built TLS encryption and it provides a different funding model.
- Unlike Zcash, ZenCash has three groups and the block rewards are divided among the three of them i.e. Miners taking as maximum as 80%, treasury (involving ops and developers) take 8.5% and Secure node operators take 3.5%.
- Secure Nodes, the recently introduced nodes by ZenCash, is far more powerful than the Secure Nodes and consists of much higher stake requirement for which the funding structure is also different than the Secure Nodes. It is divided among four groups i.e. miners with 70%, treasury (ops and developers) with 10%, Secure Node operators with 10% and Super Node operators with the rest of 10%.
- Unlike Zcash, the message length of ZenCash goes up to 1024 bytes.
- ZenCash is currently working on ZenGrid, ZenPub and many other products.
Overall, both Zcash and ZenCash are new cryptocurrencies that are popular due to their high-level privacy protection. Where some people like to hold Zcash due to its rapid growth and longevity in the market, some investors believe that ZenCash is easily accessible and contains better future value. Although, both the coins are cryptocurrency and it is important that you be very careful and invest responsibly. If you know some facts about Zcash and ZenCash, do let us know in the comments below.