Research #17
Research Zcash
Description
Zcash is a clone of the bitcoin software, with added privacy.
It uses zero-knowledge proofs to allow hiding of sender, receiver and amount of transactions.
A much criticized side effect is that the overall coin supply at a given moment can not be checked by anybody.
Another implication was the creation of toxic waste which needed to be destroyed in a so called ceremony right before the start of the main chain. See report of a participant.
The project is quite experimental, because the used crypto is fairly new.
Obfuscation of transaction is optional, unlike with Monero where it's always on.
According to (TODO: insert source) the creation of obfuscated transaction currently requires a lot of computing power (several GB of RAM), rendering it unsuited for mainstream use for now.
The mainnet started on Oct 28 with mining reward linearly transitioing from 0 to 12,5 ZEC block reward during the first 840.000 blocks (~34 days) source.
The mining algo is named Equihash and intended to be ASIC resistant.
Pool: https://zec.suprnova.cc/
CT for mining set up at zcash.d10r.net
History
#1 Updated by didi almost 8 years ago
- Tracker changed from Feature to Research
- Project changed from Lab to lab10
- Subject changed from Research zcash to Research Zcash
- Description updated (diff)
- Status changed from New to In Progress
So, it had a rocket start (at one point 1 ZEC was about 1M USD), then stabilized somewhere around 50 USD.
Miner efficiency was increased several times in the days around the start.
There was also already a fork: Zclassic considers the initial 20% mining fee unfair and thus set up a chain with that fee removed. Seems to not have reached much traction. Not listed on Poloniex (ZCL).
#2 Updated by didi over 7 years ago
The backup process is quite confusing: https://forum.z.cash/t/wallet-dat-private-key-z-t-addresses-what-to-backup/4506/11
The mining pools I know support only t-addresses.