- Joined
- Feb 2020
- Messages
- 295
Are you aware of the benefits of the crypto ZCASH?
As you have seen the biggest crypto regulated marketplaces (the ones that allow you to transfer crypto from/to credit card/bank like binance) have delisted Monero. It is due to the fact Monero transactions are private and authorities can't spy on these transaction.
Zcash was also about to get de-listed but its inventors tricked everybody. They created two types of addresses.
1ï¸âƒ£ Transparent Addresses (t-addresses)
- Format: Starts with "t1" or "t3" (e.g., t1abcd1234xyz...).
- Similar to Bitcoin addresses ”“ all transactions are public and visible on the blockchain.
- Used for:
✔ Exchanges
✔ Merchants
✔ Transparent transactions where privacy isn't needed.
Example Transparent Address:
t1XG8Fv74J2U3abcdEFG5678HJK9LmNoPQR
2ï¸âƒ£ Shielded Addresses (z-addresses)
- Format: Starts with "z" (e.g., zabcd1234xyz...).
- Provides full privacy ”“ balances, senders, and recipients are encrypted and hidden from public view.
- Uses zk-SNARKs (zero-knowledge proofs) to ensure private transactions.
- Used for:
✔ Privacy-focused payments
✔ Confidential transactions
Example Shielded Address:
ztestsapling1e4fabcdef5678ghijklmno9pqrstuvwx
I think Binance only allows transfers from and to T-addresses, but you don't care because you can transfer ZEC (zcash) from T addresses to Z addresses. So, you can catch or send ZEC to Z addresses and nobody will be able to spy on these transactions. Using Zcash you don't need to use a crypto mixer. Right now, i think z addresses are accountable for less than 40% of all zcash transactions.
I think Kraken accepts both T and Z addresses.
Formats of these addresses are very different from other addresses and it is great.
Block Time (Confirmation Speed)
- Zcash transactions are confirmed approximately every 75 seconds (1.25 minutes) because Zcash has a block time of 75 seconds.
- This is faster than Bitcoin (which has a 10-minute block time).
Number of Confirmations for Transaction Finality
| Type of Transaction | Confirmations Needed | Time to Confirm |
|---|---|---|
| Standard ZEC transaction (t-address to t-address) | 1 confirmation | ~75 seconds |
| Shielded transaction (z-address to z-address) | 1 confirmation, but processing time is higher | 75 seconds + processing delay |
| Exchanges (e.g., Binance, Kraken) | 3-24 confirmations | 3-30 minutes |
