Welcome to Learn about Zcash ZEC with me! z cash is a cryptocurrency that was created in 2016 by cryptography experts who loved Bitcoin but wanted the option to make transactions more private so they took bitcoins open source code and enhanced it with a technology known as the zero knowledge proof the result was Z cash a cryptocurrency with strong privacy features but you might think isn't Bitcoin private already why do we need Z cash it's a common misconception that Bitcoin transactions are private in fact Bitcoin transactions are mostly public here's an example let's say we have two friends Peggy and Victor and Peggy wants to send Victor some Bitcoin she asks Victor what's your Bitcoin address he shares it with her and then she sends Bitcoin from her address to Victor's the transaction is secure but it's not private that's because Peggy and Victor can look up each other's Bitcoin balances and past transactions simply by pasting each other's addresses into an online block Explorer with a couple clicks they can see how much money the other person has this means that bitcoin is great for transparency but it lacks fundamental privacy that's why Zee Cash was created if Peggy used e cash instead of Bitcoin she'd have options if she wanted her transactions and balance to be transparent like with Bitcoin she could create a public Z cash transaction but if she wanted more privacy she could create a private Z cash transaction which prevents anyone but Peggy herself from viewing her balance in transactions no one else this is what makes d cash so powerful it gives Peggy or Victor or anyone using Z Cash the freedom to choose what to reveal about themselves it was designed for privacy but ultimately it offers choice the cryptography experts who created Z cash believe this choice is a big step forward for economic freedom not just for Peggy and Victor but for everyone there are a lot of ways to make a purchase these days and they all have a different approach to privacy first there's cash when you visit a grocery store and buy something with cash you don't have to tell the cashier how much money you have in your wallet or what purchases you made last week you simply exchange your cash for groceries and continue on your way cash is private it doesn't tell anyone your name your address or how much money you have but you can't transmit it digitally so in today's networked world what do you do one solution is the credit card it does a lot of things that cash cannot including work online and across borders but credit card transactions aren't private your name address purchase history and balance info are stored by card issuers and merchants so they know things like how much credit you have what you buy where you travel and they can block your card – leaving you without a source of funds which brings us to cryptocurrency crypto is open global and decentralized Bitcoin is the most well known but it's not fully private bitcoin is a public blockchain which means that financial transactions using Bitcoin are transparent everyone can see them not just a payment process or a merchant everyone it's easy to look up the balance of any Bitcoin address as well as all of its past transactions then Kimsey cash a good analogy to compare Bitcoin in Z cash is HTTP and HTTPS HTTP is the technology that lets you browse the web when the web was young hackers regularly captured sensitive financial information as it moved from computer to computer across the internet that's because the original web protocol HTTP wasn't encrypted this changed when businesses and financial regulators realized that encryption was necessary for financial privacy and consumer protection they created a new standard HTTP that appears in your web browser today HTTPS is secure HTTP it keeps your information private as it is transmitted over the Internet when it comes to privacy bitcoin is similar to http and Z cache is similar to HTTP bitcoins lack of privacy is why a team of expert cryptographers created Z cache the Z cache is a privacy protecting cryptocurrency it combines the privacy of cache with a global reach of crypto when you use the cache no one can see your balance or past transactions unless you explicitly want them to see it Z cache was created because the team behind it believes that financial privacy is a fundamental human right z cache keeps your financial information safe so it can't be sold shared or spied on that's a big step forward from what we have today and in many ways it brings us back to the privacy we've always enjoyed with cache but it's cache upgraded for a digital networked global economy it's Z cache z cash is a privacy protecting cryptocurrency it has two types of addresses shielded addresses which fully protect your financial privacy and transparent addresses which have balances and transaction history x' that are viewable by everyone transparent addresses work just like bitcoin their public shielded addresses however are private they don't reveal balances or transaction histories z cache lets you decide what type of address you want to use for example if you're running a charity that values transparency you might use a transparent address so other people can verify each transaction on the other hand if you're just doing some personal shopping you might use a shielded address or your balance info and past purchases are kept private so how does Z caches shielded transactions actually work z caches shielded transactions are enabled by a cryptographic breakthrough known as the zero knowledge proof the zero knowledge proof allows anyone to prove they know something without sharing what they know for example let's take two people Peggy and Victor Peggy sends Victor Cindy cash and both of them use a shielded address thanks to Z caches implementation of zero knowledge proof peggy can pay victor without either of them revealing their balances or prior payments so Victor is happy because his info stays private and he knows for sure that he got paid and peggy is happy because her financial info remains private to zero knowledge proof smake Z caches privacy possible they allow Z cash payments to be private without a bank or credit card company in the middle verifying every transaction and ultimately they make Z Cash's vision of a decentralized private global currency a reality for everybody so it's inside a compass Sammy and I asuka bein fed Jaejoong Connie Jeannie who Peter Kurten it has the quality cosmetic Hongshan Pina Hotel cash now how to cuss p1800 take in take a seat elo x-rayed inaudible question you know honky tonk gone in to see AMI and Acadian tre who got the NGS or tau complex because the hotel confessed to her that the entire coast at our complex – a bientot acres under the NGA that uranium Dahlia Lugosi other Hawk AT&T si si Italia in general so daughter bye-bye