Zcash Electric Coin Company, the developer of Zcash cryptocurrency, says the new digital currency is the solution to the problems Bitcoin and most other altcoins before it have failed to nail. One of those problems is privacy. Zcash claims to offer far greater transaction privacy than Bitcoin and it is hoping to rally on that advantage to bolster its value in the increasingly crowding cryptocurrency market.
In a world where people are increasingly mindful of their online privacy, especially in the wake of high profile data breaches at large companies like Yahoo (YHOO) and Target (TGT), privacy claims quickly grab the attention. Zcash says transactions on its network are beyond tracing. You can’t see the details of the sender, recipient and amount moved through Zcash network. As such, Zcash lightly puts it that if Bitcoin has been considered the http of virtual currency, then it is the https. Litecoin (LTC), another altcoin, also claims to be silver if Bitcoin is considered gold.