New ZCash (ZEC) Shielded Wallets Help Increase and Improve Payment Transaction Privacy

2019-1-2 19:32

The current entrants in the cryptocurrency field are increasingly focusing on the privacy coin with anonymity being a key focus. One of the most favored coins is ZCash (ZEC), which has seen an increasing rate in adoption since the start of 2018. Recently, ZEC was listed among the top coins to be added on Abra Digital wallet, a top cryptocurrency wallet, and gained listing on Coinbase back in November.

Furthermore, the current 20th placed coin on Coinmarketcap has gained listing on the largest Canadian cryptocurrency exchange, Coinsave.

ZCash Focuses On Shielded Wallets To Boost Adoption Rates.

The past year has seen a rise in cases of privacy breaches as seen with the Facebook scandal further pushing privacy coins into the limelight. With the field crowded with multiple wallets and new users continuing to flock in, ZEC is looking forward to launch its shielded digital wallets that offer the best levels of security for your funds.

Privacy coins offer different types of transactions to ensure anonymity and privacy including transparent, shielding, de-shielding and shielded transactions. Shielded transactions offers the best financial privacy during transactions of ZCash via encryption.

Communities around Zcash are launching their wallets in the course of 2019. Here is a couple of the upcoming ZEC wallets.

Zero Knowledge Bank (ZKB)

Zero Knowledge Bank (ZKB) wallet is a ZEC enabled wallet that offers its users a smart browser and mobile wallet that is accessible on the go. The company is a new entrant in offering financial and storage services to users and is set to make all ZEC transactions 100% private and safe.

The company has however suffered a backlash from the ZCash community after it asked for the addresses and private keys for its ZCash users. It is highly advised against giving anyone you do not trust your private keys. In a response to @mineZcash on Twitter ZKB media team said,

“@mineZcash you’re right with an assumption that we have no history of service yet. We are at the beta testing stage of our Zero-Knowledge Bank client for Zcash at the moment. Your feedback and questions are very appreciated in our official Telegram group.” – Zero Knowledge Bank on Twitter.

The wallet will offer its users a platform that will make fully anonymous transactions for ZEC without requiring the download of the full ZCash node, which may surpass 20GB in size. In addition, the wallet offers user a lifetime free platform without the need to fill Know Your Customer details.

The zcashd ZEC wallet

Most of the wallets today tend to offer top security for funds but sacrifice your privacy or vice versa. Not anymore as “zcashd” on Linux offers users both of the features. The official ZEC wallet allows users to run the Zcash client and a full network node on their computer providing shielded transactions.

Other ZEC enabled cryptocurrencies include, WinZEC (also known as Zcash4Win), ZECmate, Kozyilmaz and zec-qt, which was released in November.

Zec-qt-wallet is a cross-platform wallet GUI and full node that encompasses support for shielded Sapling addresses. The wallet is created by the ZCash Foundation, an independent company that focuses on the development of Zcash blockchain.

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