Zcash (ZEC)
$31.63-0.47%
Get real-time information and interactive charts to find the current ZEC price. SLEX offers a clear understanding of Zcash's current market position, a chance to explore the fascinating world of virtual currencies in depth, and an appreciation of the challenges involved in trading cryptocurrencies. Gain access to in-depth news coverage and market research, and investigate the factors affecting the real swings in Zcash prices.
ZEC Price Real-Time Data
The live price of Zcash (ZEC) is $31.63, experiencing a significant transaction volume of $76.43M million over the past 24 hours. Its 24-hour peak price is $32.88, its 24-hour low is $31.15. Currently, there are 16.33M ZEC in circulation, indicating a vibrant market presence.
Overall Zcash
Zcash (ZEC) is a cryptocurrency that prioritizes anonymity and privacy. It was introduced in 2016 and developed from the Zerocoin project, which sought to give Bitcoin users more privacy. Zcash ensures that all transactions on its blockchain are private and untraceable by using cutting-edge cryptographic techniques called zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Arguments of Knowledge).
Tokenomics and Performance
- Supply Mechanics: Zcash has a similar supply structure to Bitcoin, with a fixed total supply of 21 million ZEC. The issuance rate is halved approximately every four years, similar to Bitcoin's halving events.
- Mining: Like Bitcoin in its early years, Zcash uses the Proof of Work (PoW) consensus mechanism for mining new coins.
- Distribution: Zcash initially had a unique funding model where a portion of the mining rewards (the "Founder’s Reward") went to the developers, but this was phased out with the introduction of a new development fund in 2020.
The History of Zcash
1. Zerocoin to Zerocash to Zcash: The project evolved from a proposed enhancement to Bitcoin (Zerocoin), to a standalone protocol (Zerocash), and finally to Zcash.
2. Privacy Enhancements: Zcash has continually upgraded its privacy features, making transactions more secure and private.
3. Network Upgrades: Regular network upgrades, such as 'Sapling' and 'Heartwood', have improved transaction efficiency and introduced new features like shielded Coinbase transactions.
4. Shift in Funding Model: Transition from the Founder’s Reward to a new development fund to ensure the long-term sustainability of the project.
Elements of the ZEC Ecosystem
- Privacy Focus: Zcash’s primary role in its ecosystem is providing a high level of privacy for transactions, setting it apart from many other cryptocurrencies.
- Adoption and Integration: Zcash has been integrated into various wallets and exchanges, increasing its accessibility and utility.
- Community: A strong community and governance model, including the Zcash Foundation and the Electric Coin Company, guides the project’s development and future direction.
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Learn more about Zcash (ZEC)
FAQ
What is Zcash (ZEC)?
Zcash (ZEC) is a privacy-focused cryptocurrency that utilizes zk-SNARK technology to enable encrypted transactions on its blockchain, ensuring both security and privacy for its users.
How does Zcash (ZEC) work?
ZEC operates on a blockchain that supports both transparent and shielded transactions, allowing users to choose between visibility and privacy. Its unique zk-SNARK technology ensures transaction details are encrypted, yet verifiable for legitimacy.
Is ZEC safe to invest in?
Investing in ZEC, just as with buy crypto, involves risks, primarily due to market volatility. It's important to research thoroughly and consider your risk tolerance before investing.
Can ZEC be exchanged for real money?
Yes, ZEC can be exchanged for fiat currencies on various cryptocurrency exchanges, subject to the exchange's regulations and market liquidity.
How do I buy Zcash (ZEC) on SLEX Exchange?
To buy Zcash (ZEC) on SLEX Exchange, create an account, complete any required verification, deposit funds or link a payment method, and then execute a purchase order for ZEC.
How can I store my Zcash (ZEC) coin securely after purchasing on SLEX?
After purchasing ZEC, secure storage can be achieved through SLEX Exchange security measures, private wallets, either hardware or software, ensuring the wallet supports Zcash.
What determines the price of 1 ZEC in fiat currencies on SLEX?
The price of 1 ZEC in fiat on SLEX is governed by market supply and demand dynamics, as well as broader trends in the cryptocurrency market.
What advantages does SLEX offer for ZEC to fiat currency conversion without account registration?
SLEX offers advantages like quick and easy transactions, potentially lower fees, and a certain level of anonymity for ZEC to fiat conversions without account registration.
How can I track the current price of ZEC on SLEX for investment purposes?
You can track the real-time price of 1 ZEC on SLEX using their trading platform, which typically displays up-to-date market prices and data.
What limits apply to invest in Zcash (ZEC) on SLEX with a credit card without verification?
SLEX might impose a transaction limit for unverified credit card purchases, around 900 EUR per transaction, in line with standard anti-money laundering policies.
How does SLEX ensure the most current exchange rate for ZEC is displayed?
SLEX uses real-time data feeds and market analyses to display the most current exchange rates for Zcash (ZEC) price, providing accurate information for traders.
