Presentation and definition of the crypto-currency ZenCash (ZEN)

Presentation and definition of the crypto-currency ZenCash (ZEN)

  • Name of the crypto-currency : ZenCash
  • Abbreviation : ZEN
  • Where to buy ZenCash ? Binance
  • Date of creation : May 2017
  • White paper of ZenCash
  • Web Site ZenCash

The platform ZenCash

ZenCash is a platform for decentralized, which allows you to perform transactions and communicate in a secure way. The system allows you to trade totally anonymous thanks to the processes of cryptography and an advanced technology called “Zero knowledge”. This project was initiated to mitigate the weaknesses of certain virtual currencies already exist that do not guarantee the anonymity in transactions. In fact, a crypto-currency like Bitcoin saves the data of each transaction in its blockchain and anyone can view it.

The protocol is Zero Knowledge

The protocol of proof to disclosure of zero-knowledge enables you to verify that information is true without having to disclose it. It is as well as transactions made via ZenCash is encrypted and completely protected from possible attacks. In this way, during a transaction, the buyer, the seller and the amount of the transaction remain confidential.

The launch of ZenCash

ZenCash was created as a result of a strong Zclassic. This new network, therefore, has not been funded by an ICO (Initial Corner Offering). The holders of the ZEC, the tokens of Zclassic were able to get ZEN, the new tokens to the network ZenCash. In fact, every user who had ZEC prior to the issuance of the block 110 000 has automatically received an equivalent amount of ZEN. In this new system, 8.5% of the tokens were retained for the development and maintenance of the platform.