Zcash was launched in 2008, and since then the cryptocurrency market has grown massively, with more than 1,300 in operation so far. The sheer range of cryptocurrencies is a testament to the colossal popularity of blockchains and, crucially, block rewards.
Zcash consists of block rewards, which are delivered to users who successfully mine a block. They’re a key element of Zcash’s foundation, and must be part of the reason for its popularity. Block rewards incentivize people to mine, which in turn drives cryptocurrencies’ global appeal.
Alternative cryptocurrencies first started to appear as competition for Bitcoin, the first cryptocurrency, and they have managed to achieve a significant share of the market. The leading cryptos have incredible circulation and popularity, with users all over the world.
With Zcash, the core benefit is that it’s designed to be a very secure alternative to Bitcoin. It boasts a socket security layer (SSL), also referred to as HTTPS, encrypting data transmitted across the network. This means there’s no opportunity for third-parties to intercept or exploit data, and Zcash’s privacy features outperform those offered by alternative cryptocurrencies.
As with all other cryptocurrencies, Zcash is structured on standard blockchain design. All of the nodes within the Zcash ecosystem are aware of every transaction taking place within the network by keeping a decentralized transaction log.
But while transactions remain public, all data undergoes encryption to keep other nodes from recognizing the amount transmitted or the addresses involved.