ShapeShift announces Zcash integration

Cryptocurrency exchange ShapeShift.io announced in an email sent to CoinReport that it has integrated Zcash (ZEC); the decentralized, consumer privacy-focused digital asset; onto its platform.

An exchange press release on PRWeb says that customers from all over the globe can now trade Zcash instantly along with bitcoin, ether, dash and many more cryptocurrencies. Being an innovative exchange, says the release, ShapeShift is recognized for keeping customers free from the risk of harm, circumventing the necessity to reveal sensitive private information.

Users of Zcash benefit from consumer privacy and, for the first time, selective disclosure of transactions. Offering complete payment privacy, the groundbreaking cryptography of Zcash has the capability to conceal the value of all transactions and the sender and the recipient on the blockchain.

The Zcash protocol makes blockchains useful for a variety of apps, for which the clear-text, fully transparent blockchains cannot be used; including retail, healthcare and fintech.

ShapeShift CEO Erik Voorhees

ShapeShift founder and CEO Erik Voorhees said on the occasion, “Zcash finally fulfills an early promise of Bitcoin technology – the ability to transact freely and privately with anyone in the world.”

“This protects the right to privacy held by all individuals on Earth, and opens up new commercial use cases which were impossible without truly confidential transactions.”

Zcash CEO Zooko Wilcox explained Zcash, “Zcash is a group of scientists and techies who came up with a way to combine blockchains with data security. These two things are well understood, important, and widely used, but have never been put together before now.”

“The launch of the Zash protocol is the first of its kind. It is the accumulation of years of academic research, hard engineering work, and diligent security work.”

The ZEC genesis block was mined on October 28. The Zcash core development team has made available a Linux-based daemon and command-line tool for users who want to purchase ZEC. Both pre-established and community-hosted wallets will be available and can be found at https://zcashblog.wordpress.com/zcash-gui-wallets/

Decentral, creators of universal blockchain wallet Jaxx, announced on November 1st that Zcash was immediately available on seven of Jaxx’s nine platforms, with support for iPad and iPhone expected in the coming weeks.

Images courtesy of ShapeShift