Zcash (ZEC) Price Hits $806.07 on Exchanges

Zcash (ZEC) traded 2.6% higher against the U.S. dollar during the twenty-four hour period ending at 8:00 AM Eastern on August 28th. One Zcash coin can now be purchased for $806.07 or 0.01012255 BTC on major exchanges. Over the last week, Zcash has traded up 27.2% against the U.S. dollar. Zcash has a total market cap of $13.58 billion and $1.28 billion worth of Zcash was traded on exchanges in the last 24 hours.

Here’s how related cryptocurrencies have performed over the last 24 hours:

• Horizen (ZEN) traded 0% lower against the dollar and now trades at $5.18 or 0.00006507 BTC.
• Pirate Chain (ARRR) traded up 3.5% against the dollar and now trades at $0.21 or 0.00000258 BTC.
• Bitcoin Gold (BTG) traded 0.2% higher against the dollar and now trades at $0.50 or 0.00000630 BTC.
• ZClassic (ZCL) traded 5.9% lower against the dollar and now trades at $0.21 or 0.00000262 BTC.
• Komodo (KMD) traded 20.8% lower against the dollar and now trades at $0.0064 or 0.00000008 BTC.

Zcash Profile

Zcash (ZEC) is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. Its launch date was October 28th, 2016. Zcash’s total supply is 16,842,022 coins. The Reddit community for Zcash is https://reddit.com/r/zec and the currency’s Github account can be viewed here. Zcash’s official Twitter account is @electriccoinco and its Facebook page is accessible here. The official message board for Zcash is forum.z.cash. The official website for Zcash is z.cash.

According to CryptoCompare, “ZCash is a privacy driven cryptocurrency. It uses the Equihash as an algorithm, which is an asymmetric memory-hard Proof of Work algorithm based on the generalized birthday problem. It relies on high RAM requirements to bottleneck the generation of proofs and making ASIC development unfeasible. ZCash uses zero-knowledge Succinct Non-interactive Arguments of Knowledge (zk-SNARKs) to ensure that all information (sender, receiver, amount) is encrypted, without the possibility of double-spending. The only information that is revealed regarding transactions is the time in which they take place. Blockchain data provided by: Blockchair (Main Source), Zchain Explorer (Backup)Telegram”

Buying and Selling Zcash

It is usually not possible to buy alternative cryptocurrencies such as Zcash directly using US dollars. Investors seeking to acquire Zcash should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Changelly, Gemini or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Zcash using one of the exchanges listed above.

ZEC/USD price chart by TradingView