{"id":4952,"date":"2021-01-09T18:24:58","date_gmt":"2021-01-09T16:24:58","guid":{"rendered":"https:\/\/holytransaction.com\/blog\/?p=4952"},"modified":"2022-12-26T23:55:48","modified_gmt":"2022-12-26T21:55:48","slug":"how-zcash-is-changing-the-crypto-game-with-its-wrapped-debut","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2021\/01\/how-zcash-is-changing-the-crypto-game-with-its-wrapped-debut.html","title":{"rendered":"How Zcash is Changing The Crypto Game With its Wrapped Debut"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">When it comes to cryptocurrencies and altcoins, there are a huge range of diverse crypto offerings, each offering unique value in its own way. While mainstream attention continues to be directed towards altcoins such as Ethereum and Ripple, privacy coin Zcash (ZEC) is an intriguing alternative that is flying under the radar of many investors.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Here is a rundown of Zcash and how it is using Wrapped and Anchorage to increase its functionality while maintaining the privacy and security benefits that it already offers.<\/span><\/p>\n<h2 class=\"p2\"><span class=\"s1\">How Zcash Provides Privacy with Cryptography<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">Zcash, based on Bitcoin\u2019s codebase, is an altcoin that was initially released in 2016, and shares many similarities to Bitcoin. With this being said, the areas in which it differs are in regard to privacy and anonymity.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Zcash offers enhanced privacy through its ability to offer two types of addresses \u2013 those that are transparent, and those that are shielded. With shielded accounts, while Zcash transaction data is still posted to a blockchain that is public, personal and transaction data remain confidential. This is achieved through zero knowledge proofs, which allow for verified transactions without information such as transaction amount, sender and receiver.<\/span><\/p>\n<h2 class=\"p2\"><span class=\"s1\">Wrapped Zcash<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">Wrapped, which is a partnership between Anchorage and Tokensoft, launched WZEC as their first asset in late 2020. In understanding how wrapped Zcash is providing value, it is important to understand the idea of wrapping a token.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Essentially, wrapping a token involves representing a blockchain asset on another blockchain \u2013 with the example of Bitcoin, it would involve issuing a BTC equivalent on the Ethereum blockchain network. This exists in the form of wrapped bitcoin (WBTC). Wrapped tokens are backed on a 1:1 basis with the cryptocurrency upon which they were based, and need to be held in reserve by a qualified custodian.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Wrapped Zcash follows this same process, and as a result provides a number of benefits which are in many ways unprecedented.<\/span><\/p>\n<h2 class=\"p2\"><span class=\"s1\">How WZEC Provides the Best of Both Worlds<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">When it comes to the benefits of wrapped Zcash as opposed to ZEC, the functionality of this altcoin is dramatically shifted with WZEC.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Put simply, shielded Zcash holders can now use their Zcash whilst keeping their information private. They can now keep their assets in a shielded account, and are able to privately use a fraction of them on Ethereum blockchain by wrapping these assets. This addition means that Zcash users can benefit from the best of both crypto privacy and functionality.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">In addition to this added capability, WZEC also provides benefits in regard to regulation \u2013 this is because wrapping <a href=\"https:\/\/z.cash\">Zcash<\/a> on the Tokensoft platform results in a know-your-customer (KYC) process for shielded ZEC, in addition to the fact that ZEC holders need to be on the same page as Anchorage in terms of their compliance as qualified custodians.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Finally, it allows ZEC holders to invest and make transactions within the various Dapps built on Ethereum.<\/span><\/p>\n<h2 class=\"p2\"><span class=\"s1\">The Importance of Privacy in the Crypto World<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">When it comes to cryptocurrency in 2021, the growing demand for crypto is bringing with it an increase in the demand for safety, security and privacy in making transactions and using crypto assets.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">While it was once not an option for shielded ZEC to be traded on crypto exchanges, WZEC makes this functionality a reality. Essentially, Wrapped is creating a crypto offering that includes the best of privacy and usability.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">This is a product that is catering to a growing audience of crypto enthusiasts and investors, whether retail or institutional, and is a contributing factor to the increasing price of ZEC \u2013 2020 saw huge increases in <a href=\"https:\/\/holytransaction.com\/blog\/2017\/04\/zcash-market-cap-top-10-cryptocurrencies.html\">ZEC value<\/a>, and this growth has so far continued into 2021.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">While cryptocurrencies such as Bitcoin and Ethereum are popular within the wider crypto community, their shortcomings in regard to privacy are meaning that more and more investors with concerns regarding privacy are beginning to consider crypto offerings such as Zcash \u2013 with this being said, only time will tell whether ZEC ends up as a success.<\/span><\/p>\n<p class=\"p3\"><span class=\"s2\"><b><br \/>\n<\/b><\/span><span class=\"s3\"><b><i>Author Bio:<\/i><\/b><\/span><\/p>\n<p class=\"p4\"><span class=\"s1\"><i>Chelsea Rogers is a marketing student and freelance writer for\u00a0<\/i><a href=\"https:\/\/current.com.au\/\"><span class=\"s4\"><i>Current.com.au<\/i><\/span><\/a><i>\u00a0based in Melbourne, Australia. She is passionate about growing her crypto and finance portfolios. She is an avid music lover and regularly performs at local venues with her band.<\/i><\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Open your free digital wallet\u00a0<a href=\"https:\/\/holytransaction.com\/app#!\/signup\"><span class=\"s4\">here<\/span><\/a>\u00a0to store your cryptocurrencies in a safe place.<\/span><\/p>\n<p>Open your free digital wallet <a href=\"https:\/\/holytransaction.com\/app#!\/signup\">here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>When it comes to cryptocurrencies and altcoins, there are a huge range of diverse crypto offerings, each offering unique value in its own way. While mainstream attention continues to be directed towards altcoins such as Ethereum and Ripple, privacy coin Zcash (ZEC) is an intriguing alternative that is flying under the radar of many investors. [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":4325,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[518],"tags":[1369],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.6 (Yoast SEO v22.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How Zcash is Changing The Crypto Game With its Wrapped Debut -<\/title>\n<meta name=\"description\" content=\"Discover how Zcash is shaking up the crypto world with its wrapped debut and what it means for the future of digital currencies.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/holytransaction.com\/blog\/2021\/01\/how-zcash-is-changing-the-crypto-game-with-its-wrapped-debut.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Zcash is Changing The Crypto Game With its Wrapped Debut\" \/>\n<meta property=\"og:description\" content=\"Discover how Zcash is shaking up the crypto world with its wrapped debut and what it means for the future of digital currencies.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/holytransaction.com\/blog\/2021\/01\/how-zcash-is-changing-the-crypto-game-with-its-wrapped-debut.html\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/facebook.com\/holytransaction\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/holytransaction\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-09T16:24:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-26T21:55:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/holytransaction.com\/blog\/wp-content\/uploads\/2021\/02\/zcash-wrapped-debut-token.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Satoshi\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/holytransaction\" \/>\n<meta name=\"twitter:site\" content=\"@holytransaction\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Satoshi\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/holytransaction.com\/blog\/2021\/01\/how-zcash-is-changing-the-crypto-game-with-its-wrapped-debut.html\",\"url\":\"https:\/\/holytransaction.com\/blog\/2021\/01\/how-zcash-is-changing-the-crypto-game-with-its-wrapped-debut.html\",\"name\":\"How Zcash is Changing The Crypto Game With its Wrapped Debut -\",\"isPartOf\":{\"@id\":\"https:\/\/holytransaction.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/holytransaction.com\/blog\/2021\/01\/how-zcash-is-changing-the-crypto-game-with-its-wrapped-debut.html#primaryimage\"},\"image\":{\"@id\":\"https:\/\/holytransaction.com\/blog\/2021\/01\/how-zcash-is-changing-the-crypto-game-with-its-wrapped-debut.html#primaryimage\"},\"thumbnailUrl\":\"https:\/\/holytransaction.com\/blog\/wp-content\/uploads\/2021\/02\/zcash-wrapped-debut-token.jpg\",\"datePublished\":\"2021-01-09T16:24:58+00:00\",\"dateModified\":\"2022-12-26T21:55:48+00:00\",\"author\":{\"@id\":\"https:\/\/holytransaction.com\/blog\/#\/schema\/person\/1643e2c0c2df67ae0d6eacff8a185e69\"},\"description\":\"Discover how Zcash is shaking up the crypto world with its wrapped debut and what it means for the future of digital currencies.\",\"breadcrumb\":{\"@id\":\"https:\/\/holytransaction.com\/blog\/2021\/01\/how-zcash-is-changing-the-crypto-game-with-its-wrapped-debut.html#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/holytransaction.com\/blog\/2021\/01\/how-zcash-is-changing-the-crypto-game-with-its-wrapped-debut.html\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/holytransaction.com\/blog\/2021\/01\/how-zcash-is-changing-the-crypto-game-with-its-wrapped-debut.html#primaryimage\",\"url\":\"https:\/\/holytransaction.com\/blog\/wp-content\/uploads\/2021\/02\/zcash-wrapped-debut-token.jpg\",\"contentUrl\":\"https:\/\/holytransaction.com\/blog\/wp-content\/uploads\/2021\/02\/zcash-wrapped-debut-token.jpg\",\"width\":1000,\"height\":667,\"caption\":\"zcash wrapped debut token\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/holytransaction.com\/blog\/2021\/01\/how-zcash-is-changing-the-crypto-game-with-its-wrapped-debut.html#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/holytransaction.com\/blog\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"zcash\",\"item\":\"https:\/\/holytransaction.com\/blog\/tag\/zcash\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"How Zcash is Changing The Crypto Game With its Wrapped Debut\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/holytransaction.com\/blog\/#website\",\"url\":\"https:\/\/holytransaction.com\/blog\/\",\"name\":\"\",\"description\":\"HolyTransaction&#039;s Blog - Your crypto blog\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/holytransaction.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/holytransaction.com\/blog\/#\/schema\/person\/1643e2c0c2df67ae0d6eacff8a185e69\",\"name\":\"Satoshi\",\"sameAs\":[\"https:\/\/holytransaction.com\",\"https:\/\/facebook.com\/holytransaction\",\"https:\/\/twitter.com\/https:\/\/twitter.com\/holytransaction\"],\"url\":\"https:\/\/holytransaction.com\/blog\/author\/admin\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"How Zcash is Changing The Crypto Game With its Wrapped Debut -","description":"Discover how Zcash is shaking up the crypto world with its wrapped debut and what it means for the future of digital currencies.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/holytransaction.com\/blog\/2021\/01\/how-zcash-is-changing-the-crypto-game-with-its-wrapped-debut.html","og_locale":"en_US","og_type":"article","og_title":"How Zcash is Changing The Crypto Game With its Wrapped Debut","og_description":"Discover how Zcash is shaking up the crypto world with its wrapped debut and what it means for the future of digital currencies.","og_url":"https:\/\/holytransaction.com\/blog\/2021\/01\/how-zcash-is-changing-the-crypto-game-with-its-wrapped-debut.html","article_publisher":"https:\/\/facebook.com\/holytransaction","article_author":"https:\/\/facebook.com\/holytransaction","article_published_time":"2021-01-09T16:24:58+00:00","article_modified_time":"2022-12-26T21:55:48+00:00","og_image":[{"width":1000,"height":667,"url":"https:\/\/holytransaction.com\/blog\/wp-content\/uploads\/2021\/02\/zcash-wrapped-debut-token.jpg","type":"image\/jpeg"}],"author":"Satoshi","twitter_card":"summary_large_image","twitter_creator":"@https:\/\/twitter.com\/holytransaction","twitter_site":"@holytransaction","twitter_misc":{"Written by":"Satoshi","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/holytransaction.com\/blog\/2021\/01\/how-zcash-is-changing-the-crypto-game-with-its-wrapped-debut.html","url":"https:\/\/holytransaction.com\/blog\/2021\/01\/how-zcash-is-changing-the-crypto-game-with-its-wrapped-debut.html","name":"How Zcash is Changing The Crypto Game With its Wrapped Debut -","isPartOf":{"@id":"https:\/\/holytransaction.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/holytransaction.com\/blog\/2021\/01\/how-zcash-is-changing-the-crypto-game-with-its-wrapped-debut.html#primaryimage"},"image":{"@id":"https:\/\/holytransaction.com\/blog\/2021\/01\/how-zcash-is-changing-the-crypto-game-with-its-wrapped-debut.html#primaryimage"},"thumbnailUrl":"https:\/\/holytransaction.com\/blog\/wp-content\/uploads\/2021\/02\/zcash-wrapped-debut-token.jpg","datePublished":"2021-01-09T16:24:58+00:00","dateModified":"2022-12-26T21:55:48+00:00","author":{"@id":"https:\/\/holytransaction.com\/blog\/#\/schema\/person\/1643e2c0c2df67ae0d6eacff8a185e69"},"description":"Discover how Zcash is shaking up the crypto world with its wrapped debut and what it means for the future of digital currencies.","breadcrumb":{"@id":"https:\/\/holytransaction.com\/blog\/2021\/01\/how-zcash-is-changing-the-crypto-game-with-its-wrapped-debut.html#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/holytransaction.com\/blog\/2021\/01\/how-zcash-is-changing-the-crypto-game-with-its-wrapped-debut.html"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/holytransaction.com\/blog\/2021\/01\/how-zcash-is-changing-the-crypto-game-with-its-wrapped-debut.html#primaryimage","url":"https:\/\/holytransaction.com\/blog\/wp-content\/uploads\/2021\/02\/zcash-wrapped-debut-token.jpg","contentUrl":"https:\/\/holytransaction.com\/blog\/wp-content\/uploads\/2021\/02\/zcash-wrapped-debut-token.jpg","width":1000,"height":667,"caption":"zcash wrapped debut token"},{"@type":"BreadcrumbList","@id":"https:\/\/holytransaction.com\/blog\/2021\/01\/how-zcash-is-changing-the-crypto-game-with-its-wrapped-debut.html#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/holytransaction.com\/blog"},{"@type":"ListItem","position":2,"name":"zcash","item":"https:\/\/holytransaction.com\/blog\/tag\/zcash"},{"@type":"ListItem","position":3,"name":"How Zcash is Changing The Crypto Game With its Wrapped Debut"}]},{"@type":"WebSite","@id":"https:\/\/holytransaction.com\/blog\/#website","url":"https:\/\/holytransaction.com\/blog\/","name":"","description":"HolyTransaction&#039;s Blog - Your crypto blog","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/holytransaction.com\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/holytransaction.com\/blog\/#\/schema\/person\/1643e2c0c2df67ae0d6eacff8a185e69","name":"Satoshi","sameAs":["https:\/\/holytransaction.com","https:\/\/facebook.com\/holytransaction","https:\/\/twitter.com\/https:\/\/twitter.com\/holytransaction"],"url":"https:\/\/holytransaction.com\/blog\/author\/admin"}]}},"_links":{"self":[{"href":"https:\/\/holytransaction.com\/blog\/wp-json\/wp\/v2\/posts\/4952"}],"collection":[{"href":"https:\/\/holytransaction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/holytransaction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/holytransaction.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/holytransaction.com\/blog\/wp-json\/wp\/v2\/comments?post=4952"}],"version-history":[{"count":3,"href":"https:\/\/holytransaction.com\/blog\/wp-json\/wp\/v2\/posts\/4952\/revisions"}],"predecessor-version":[{"id":4963,"href":"https:\/\/holytransaction.com\/blog\/wp-json\/wp\/v2\/posts\/4952\/revisions\/4963"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/holytransaction.com\/blog\/wp-json\/wp\/v2\/media\/4325"}],"wp:attachment":[{"href":"https:\/\/holytransaction.com\/blog\/wp-json\/wp\/v2\/media?parent=4952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/holytransaction.com\/blog\/wp-json\/wp\/v2\/categories?post=4952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/holytransaction.com\/blog\/wp-json\/wp\/v2\/tags?post=4952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}