Home Finance News Zcash (ZEC) Sapling Transaction with Shielded Output at 388k is more than Double from Last Year

Zcash (ZEC) Sapling Transaction with Shielded Output at 388k is more than Double from Last Year

Zcash

The Zcash privacy set is based on the number of sapling transactions with a shielded output. It’s at 388k, more than double what it was a year ago.

The ECC tracks different on-chain metrics, which are related to transparent and shielded storage and use.

Zcash’s privacy set protects users from on-chain linkability analysis. Every shielded pool in Zcash has its own privacy set.

The Sapling privacy se, is more than 2x more significant than it was a year ago, measured by the total number of transactions with at least one shielded output. Transactions with at least one shielded output are a good measure of the Zcash privacy set because, the more shielded outputs in a given pool, the more difficult it is to link transactions that interact with that pool.

For clarity, Shielded output means the path of the transaction is not easy to trace.  If there are many outputs in a pool whose path is difficult to trace, then privacy is ensured.  Zcash users benefit from the privacy settings with time.

Thus Zcash is superior to coins which use mixing where the privacy set is limited to the number of transactions mixed together at a single moment in time.

For clarity, ZEC is a privacy-protecting cryptocurrency. It is fast and confidential with low fees.    It is hailed to be perfect for mobile payments.  Zcash believes strongly in that financial privacy is very important.

Zcash shielded transactions keep all users’ financial information private and, therefore, privacy under the control of users.

Zcash can be used to pay friends, family, and service providers.  It can be used at the favorite stores or online merchants.

Zcash claims to be the ‘HTTPS of blockchains,’ which protects your freedom as you save and spend value as you like.

Zcash has been launched by one of the most respected technical teams in the world.  Zcash is the first project to implement zk-SNARKs, which is a novel form of zero-knowledge cryptography, which provides users with the strongest privacy available in any digital currency.

Several independent organizations have been funded to innovate on Zcash.  Zcash is already available on top exchanges, digital wallets, and in a growing number of applications.

Zcash is best known for its built-in encryption, which permits private data in a public blockchain. The dev fund is most significant about Zcash as it’s self-funding.  The funding permits developers to continuously improve the protocol to prevent the currency from being undermined, weakened, and vulnerable to capture, or be steered in a direction for individual benefit.

 

 

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Maheen Hernandez

A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5

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