ZCash (ZEC) was created in 2016 as an attempt to build a better, more anonymous and secure form of decentralized, digital cash. ZCash was created as an open-source cryptocurrency built upon the Bitcoin network codebase while using peer-reviewed cryptographic research. Utilizing what are known as zero-knowledge proofs, ZCash users have the option to hide their transaction to complete anonymity and privacy. This is done via zero-knowledge proofs known as zk-SNARKs which shield transactions. With ZCash, transactions can also be semi-private, which presents a significant breakthrough for the financial industry. Using its second-layer solution, the zero-knowledge security layer (ZSL), ZCash can reveal selected data such as the date and time of a transaction, and still hide the identities of the transacting parties. Because users can opt-in to private transactions or choose to stick with the standard, public transactions, ZCash provides some of the most flexibility in the cryptocurrency industry.

The ZCash blockchain utilizes a series of zero-knowledge proofs, ring signatures, and mixing technology to obfuscate transactions on the network. This makes viewing transactions on the ZCash blockchain only possible for non-shielded transactions, and garnering information about ZCash transaction totals or summations difficult. The average block time on the ZCash network is about 2.5 minutes, with a network block size limit of 2MB and a 12.5 ZEC block reward currently being paid-out to miners as a reward. There are about 4.5 million ZEC tokens in circulation at this time.