ZCash is a privacy-focused blockchain and cryptocurrency which was built with great security and of course privacy in response to Bitcoins’ flaws. It is somewhat similar to Bitcoin as it uses the same algorithm as Bitcoin but improves upon it by enabling semi-transparent processing. This cryptocurrency has its own pros and cons like another cryptocurrency. Here are the things you need to know about the Pros and Cons of ZCash.
Both Pros and Cons of ZCash are presented in a broad sense below:
Pros of ZCash
- Is Anonymous:
ZCash is especially to help people to keep their transactions as private and anonymous as possible. For the transaction, you can go for two options i.e. high-encryption hidden address one or the ordinary public address one.
The transaction fee is higher in case you choose to hide your address. Since the great encryption standards will make sure that possible attackers are not able to locate any details about the transaction except the fact that it happened. And also it hides the time it happened around. This is one of the major advantages of this privacy coin.
- ZCash Coin Exchange with Other:
Another advantage of ZCash is that it is completely interchangeable. This is a very important quality of money and ZCash passes this test with flying colors. The transaction details are not recorded in the ZCash, you can reuse the coin acquired honestly even though it is used for illegal purposes. This is impossible in the case of Bitcoin because it has clear records, stamps a coin with its history.
- ZCash Ensures High Prices:
As per the law of economics, the ZCash has hard-capped its total supply at 21 million. It also makes sure that the price range will have a more or less incremental curve. Even if the price range falls, the limited supply won’t let it from falling too low.
- Is ASIC-Resistant:
The main motive of ZCash was to reduce the high dependence on expensive and heavy equipment which includes all graphics cards and application-specific integrated circuits (ASIC). However, in 2018, the ASIC community voted against prioritizing this feature any more than it already is.
Cons of ZCash
- Legal Issues Surrounding Privacy of ZCash:
There are much legal compliance and regulatory clearance problem in case of these privacy coins because there is no idea of how a person is going to use it. There are no ways to trace it even if a user uses it for unscrupulous goals. Thus, ZCash can be an unsuitable candidate for trustworthiness.
- CPU Mining is possible:
CPU mining of ZCash is possible. It is mainly for Linux users. And it is a major issue. Though it can be used on Windows or MAC, the CPU mining option is not suitable for that operating system.
So these facts of Pros and Cons of ZCash will enlighten you with some knowledge.