ZCash was designed to be efficient, safe, and anonymous. The developers behind ZCash also promote complying with regulatory requirements. Additionally, you can choose full transparency when you use ZCash, in which case its transparency is similar to that of Bitcoin when transfers are conducted.
ZCash vs Bitcoin
We have established so far that ZCash shares many features with Bitcoin. Bitcoin is popular for its transparency whilst maintaining anonymity. However, it is also true that bitcoin transactions can be tracked to verify the parties involved.
ZCash on the contrary, encrypts (but does not eliminate) the transaction credentials. Thus, it adds another layer of user security and anonymity. One must also note that the mining equipment (hardware and software) needed for Bitcoin mining and for ZCash mining are totally different. ZCash additionally offers higher hash rate and larger blocks, thereby has a higher hash rate.
What is hash rate?
Hash rate refers to the processing power of the network of miners. It is basically a measure of how quick a transaction can be verified and validated, to open a new block.
How is ZCash different?
ZCash was designed to be anonymous, safe, and efficient. Its developers encourage rule enforcement whilst also maintaining a rather wide array of options for the users. One can opt for a fully transparent transaction on ZCash as well. In such a case, the level of transparency matches that of Bitcoin.
Mining ZCash
Mining is the process to produce new coins of the ZCash crypto. One can use an application-specific integrated circuit (ASIC) miner or a computer with a graphics card capable of mining. However, ZCash recommends using an ASIC miner and mining pool since the network difficulty has increased so much that PC mining is not profitable enough.
Since ZCash relies on proof-of-work mining algorithm, miners have to compete against each other to produce a new block. They race to solve the hash and the first miner to find the solution opens a new block and receives the reward.
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