January 2019
Beginner to intermediate
372 pages
11h 17m
English
Content preview from Foundations of Blockchain
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Zcash
Zcash creates shielded transactions by hiding the sender, the recipient, and value information. Zcash was the first cryptocurrency to use the zero-knowledge proof cryptographic primitive in the blockchain technology, which was released in October, 2016.
A zero-knowledge proof is a system in which a user can prove that they possess knowledge without disclosing it to the verifier. Zero-knowledge proof ensures that none of the information given to the verifier compromises the privacy of the prover. In a regular transaction, users prove that they own an asset by signing transactions with the secret key. Zcash creates a zero-knowledge proof for the transaction that can be verified even though the user did not enclose much information:
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