Zcash (ZEC), a partnership with JP Morgan has become a big topic.
It is a currency with the function of “anonymity” which is said to be “zero knowledge proof“, and it is characterized by being able to exchange that information privately at the time of dealings.
Since Zcash was released in October 2016, prices soared rapidly, but after that it was sluggish.
From March 2017 onwards, the price began to rise and rose further in partnership with JP Morgan.
What is Zcash(ZEC)
The characteristic of ZCASH is “high anonymity” that encrypts transactions of currencies in block chains using zero knowledge proof.
The merit of anonymity is that you can trade assets without revealing them to third parties.
Zcash is expected as the first full-fledged virtual currency using “zero knowledge proofs”.
It is a big difference between ZCASH and bit coin that it is possible to prove the validity of the remittance transaction without revealing to third parties who sent to whom.
The block chain adopted for bit coin is a system realizing high anonymity and reliability, but bit coin can not be said to be perfect anonymity because it can trace dealings with temporary name.
On the future of Zcash
JP Morgan is praising “as the world’s most advanced technology” against “Zero knowledge proof” which is technology of Zcash.
It seems that JP Morgan plans to incorporate privacy technology into its own platform (Quorum) by partnering with Zcash.
The partnership with this world’s largest major bank may have a big impact on Zcash’s price in the future.
Ethereum also plans to partner with Zcash ‘s team at the time of the update and incorporate privacy skills.
Former NSA, CIA official Edward Joseph Snowden made remarks about Zcash’s technology, “Zcash’s technology is the most interesting technology to replace Bitcoin” attracted attention.
In other words, information that becomes such a big favorable material will make Zcash more recognizable, the number of investors in Zcash will also increase, creating further price increases.