ZCash overview using the Feynman Technique
This post is one of a series of posts I am writing where I try to apply the Feynman Technique to a number of different crypto token projects. You can find the rest here. None of this should be taken as investment advice. They are just meant to be simple introductions to the projects.
ZCash, like Bitcoin, is a computer to computer digital network of transactions that doesn’t require any single person or organization to approve each transaction. ZCash is different from Bitcoin, however, because it has the ability to not show any traceable information about each transaction.
With Bitcoin, every transaction is published openly and therefore can be traced with the right information. ZCash makes it impossible for the general public to see who sent how much to whom. ZCash can also share transaction information publicly or to a select group of accounts if the sender desires to.
In addition to sending a transaction between users, ZCash also enables people to send messages that can be secured except for the person the message was sent to.