Number of services utilizing privacy-based Zcash’s protected addresses is rising

Number of services utilizing privacy-based Zcash’s protected addresses is rising
Dec 18, 2018 by Rico Wise

The update was promoted as substantially bettering the speed and effectiveness of Z-Cash and making it require fewer resources. The aim of Zcash is to make everyone opt for utilization of shielded or in-house addresses, claiming that this is merely the start of Zcash’s campaign focused on creation of a protected ecosystem.

Protected addresses differ from transparent ones, activity of which can be seen by anyone. In case of in-house digital currencies, the data regarding certain transaction details is not evident for the public, as opposed to BTC and other 1st gen digital currencies that allowed everyone to limitlessly see the comings and goings of digital currencies.

Paige Peterson of Zcash stated that cryptomining pools and other services have started supporting shielded addresses for withdrawals, including the exchanges. In spite of her post, almost an absolute majority of Zcash-based transactions in the course of the past month were available to the public viewing, without any substantial increase in shielded transaction activity.

Peterson stated that the rising adoption of protected addresses is because of the fundamental improvements of Zcash cryptographers. They have designed and introduced substantial transformations to the zero-knowledge proof mechanism in Sapling. After years of studying and cryptographic design labor such advancements have become possible, building upon the schemes already in place and introducing the newly invented ones.

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