Why is actually ZCash valuable? Originally, many people used bitcoin for private transactions. With bitcoin growth, they were expanded technologies that read the “Bitcoin registry” and the level of intimacy has fallen. Let’s say you live in Greece and the economy is about to collapse. You want to get your money out of the country, but the government imposes a new 50% tax on that. If you want to park your money in Bitcoin, your transaction will be readable, they will see what it was the amount and this will eventually lead to you. There are many reasons why you might want to protect your identity and Bitcoin has weaknesses in this point of view.
Get into the ZCASH scene
The technology behind ZCash allows transactions to be 100% private. They use some stuff of tech called “zk-SNARKs” to hide information using cryptography, just revealing what you want when you initiate the transaction. You can send money. You can hide information about your medical condition. There are many other scenarios in which it is helpful. At this point, ZCash is a currency and a protocol and is being used by many major financial institutions. That gives a great potential to this technology. And other cryptocurrencies have tried to provide a solution for privacy, but they did not come close to ZCash’s performance.
ZCash is increasingly used as an exchange medium in countries like Venezuela and Zimbabwe, where local currencies are almost worthless and people do not trust governments. It solves the problem of identity protection, it’s an excellent payment system, and it has the potential to solve some important issues: anonymous voting, financial transactions, storage of medical history and much more. Given the ecosystem of cryptocurrencies, an investment in the one that solves the problem of intimacy is a good one. That’s enough. But one more reason is that the development team that ZCash has is a top one. It’s the only cryptocurrency developed by professional cryptographers and academics.
In a world where a lot of amateurs are trying to build coins for the purpose of doing money quickly, ZCash differentiates itself through a level of professionalism and talent more than needed to build something sustainable with a solid long-term vision.