Shielded address: fulfilling Zcash potential
Now you see me
What if the cryptocurrency, originally designed as private, in the conditions of modern realities and the influence of the politics of the majority of centralized exchangers and regulators, as a result is pretty close to Bitcoin in terms of privacy (it is known that Bitcoin is far from anonymous)? As you may have already understood, we are talking about Zcash.
The creators of Zcash planned to design an anonymous payment system, based on the zero-knowledge proofs technology. For example, Bitcoin addresses are visible publicly in the blockchain. Zcash wanted to give the users the option of hiding the address to provide anonymity, so Zcash addresses are either private (z-addresses) or transparent (t-addresses). Z-addresses start with a “z,” and t-addresses, accordingly, start with a “t.”. The t-addresses is a public address that can be viewed publicly. If the user chooses to be anonymous, they can use a z-address. This address cannot be viewed by the miners verifying the transaction. Sending funds from or to z-address results in a “Shielding” transaction.
Make Zcash Anonymous Again
Currently, very few exchanges, services and wallets allow their users to use Zcash privately, as originally conceived by the developers. This state of affairs really upsets us, so the Godex.io team implemented the ability to choose which address you want to send z-cash when making an exchange.
When exchanging Zcash on Godex — anonymous ‘on-the-fly’ cryptocurrency exchange service, you can choose, which way you want to deposit ZEC:
- Regular t-address (transparent) — an ordinary bitcoin-type transaction, the data of which can be viewed in the blockchain publicly (although you still can send Zcash from z-address, making your transaction “deshielded” — see more about Zcash transaction types here)
- Shielded z-address — so your transaction will be shielded, even if you are sending coins from the transparent wallet. To get the strongest Privacy, you can send the deposit also from the z-address of your wallet.
Also, Godex does not require any personal data and registration from its users, and all information about completed transactions is completely deleted from servers after 7 days.
You can try exchanging Zcash without registering here.
