Zcash vs Dash: Key Difference
Fast, inexpensive and anonymous money transfer in the traditional financial system is almost impossible. With the advent of blockchain technology and Bitcoin, this has become a reality.
To prevent corruption and other criminal activities using BTC, all transaction records are kept in the public domain. Tracing links between Bitcoin wallets is difficult and troublesome, but technically possible. While Bitcoin was the only cryptocurrency and was perceived as a new strange pastime of a narrow circle of people, its potential weaknesses were not obvious.
And yet, the lack of privacy was considered by many crypto enthusiasts to be too obvious and insecure. With the development of cryptography, one of the directions for improving the blockchain has become an increase in privacy.
Particularly confidential coins Zcash and Dash
When comparing Zcash vs Dash, it is important to understand that both coins are the closest relatives of Bitcoin. Both of them were formed by hard forks. Forks are called improved versions of the original digital coin protocol. They say about hard forks if, as a result of improvement, the coin changes irreversibly and becomes incompatible with the original version.
Dash and Zcash forked from Bitcoin in 2014 and 2015 respectively. Coins are in many ways similar to each other and both are like Bitcoin, but each of them lives its own separate life.
Also Read: How to choose the best Crypto wallet and how to use the money
Common features of Zcash and Dash
Both networks use the Proof of Work consensus algorithm. The block size is 2 MB and the block validation time is 2.5 minutes. The minimum fractional part of each altcoin is 0.00000001.
Differences between Zcash and Dash
Dash entered the market in 2014, while Zcash was launched in the fall of 2016. However, the age of altcoins has little effect on their position in the rankings. At the time of writing, Zcash is ranked 66th in the CoinMarketCap ranking, while Dash is content with a more modest 80th position. The exchange rate of both coins against the dollar is now almost the same and is approaching $105 per coin.
Networks use different hashing algorithms. ZEK is based on the zk-SNARK algorithm, which encrypts the transaction amount and the addresses of both its participants. The network records only the time of the transaction. DASH is based on the X11 algorithm, which is considered one of the most sophisticated and advanced hashing algorithms. Users can choose the desired degree of transaction confidentiality. This can either be a transparent Instant Send or a completely anonymous Private Send.
As cryptography has evolved, the original PoW mechanism has undergone many changes. The Zcash network uses a modification of Equihash. Dash developers have gone the other way and created a hybrid PoW/PoS algorithm.
At the moment, the Zcash network receives 12.5 ZEC each. 10% of the mined coins go to the account of the founder of the network. Every 4 years, the block reward is halved.
In the Dash network, the reward is distributed differently. 10% of the reward goes to fund the network, the remaining 90% is equally distributed between miners and masternodes. Halving in the network is not provided, the amount of remuneration is reduced by 7% annually.
The number of coins.
The maximum supply of ZEC is set at 21 million coins. When the last coin will be mined is still unknown. The maximum amount of Dash is 18.6 million, with the entire supply expected to be mined by around 2050.
Fans of both coins are fiercely arguing which of the altcoins provides more anonymity. Both networks offer the ability to choose the desired degree of anonymity. And yet, in some respects, ZEC surpasses its competitor.
Where to buy confidential coins
A high degree of confidentiality is not always an advantage. Confidential coins can be used for unseemly purposes and major exchanges treat them with extreme caution. The easiest way to buy the coin you need is using the cryptocurrency converter LetsExchange. The platform is completely anonymous and supports over 350 coins and tokens.