Manager for beginners Monero and Zcash: Why is it important
In the world of cryptocurrency, two names have become household conditions for those who want to invest or participate in decentralized transactions. Monero, also known as XMR and ZCASH (TEC), has received great attention in recent years due to their unique qualities, advantages and growth potential. In this article, we will deepen the Monero and Zcash in the world, explaining what they are, how it works and why it matters.
What is Monero?
Monero is a decentralized cryptocurrency that allows users to develop safe and anonymous online operations. It is often referred to as “private” because it uses advanced cryptography to protect consumer identities. Monero operations are encrypted, so they are virtually untouched, which is why it makes it attractive to consumers who want their own discretion.
How does Monero work?
Monero’s Blockchain is based on a consent mechanism called work proof (POW), which requires the mining to solve complex mathematical puzzles to confirm operations and add new blocks. However, this process also creates a considerable amount of calculation energy costs, making it more expensive for consumers to handle their hands than other cryptocurrencies.
To solve this problem, Monero presents “currency” – techniques that allow several network nodes to combine their mining power and reduce energy consumption. This allows Monero to give its users a more accessible and durable way to participate in the network.
What is Zcash?
Zcash, also known as the tenth, is another decentralized cryptocurrency with strong privacy properties. It is based on a currency protocol, which allows encrypted operations without disclosing consumer identities.
Zcash operations are restrained and encrypted using cryptographic technique called circular signatures similar to those used by Bitcoin. This ensures that only the sender and the recipient can access the operation information that makes it almost impossible to track or determine the transactions in third parties.
The main differences between Monro and Zcash
While both coins seek anonymous, there are several main differences:
* encryption methods : Monero uses circular signatures and Zcash uses the owner’s encryption method called Zero’s knowledge evidence (ZKP).
* Blockchain Structure
: Monero’s Blockchain is based on a POW consensus mechanism, while Zcash is for low speed and latent.
* Transaction fees : Monero operations are usually more expensive than other cryptocurrencies.
Why do they care about moner and zcash people?
There are several reasons why these coins have gained popularity:
* Safety and anonymity : Both Monero and Zcash offer a high level of security and anonymity, making them attractive to consumers who want their own discretion.
* increasing demand : When several companies and individuals use cryptocurrencies on operations, the demand for these coins increases.
* Limited offer : Monero and Zcash’s joint offer is not only 21 million, which can increase value over time.
Why are Monero and Zcash important?
Monero and Zcash have a big impact on several industries:
* Financial services : These cryptocurrencies offer a safe alternative to traditional payment systems that could disrupt how we carry out transactions.
* E -commerce : When online shopping is becoming increasingly common, these coins can provide consumers with greater control of their financial information.
* Government and the application of laws : Increased demand for Monero and Zcash leads to innovations in areas such as fighting money solutions (AML) and knowledge solutions (KYC).