Zcash

Key Technical Advantages:

zk-SNARKs: Zcash employs zero-knowledge succinct non-interactive arguments of knowledge (zk-SNARKs) to provide strong privacy features. zk-SNARKs allow for the verification of shielded transactions without revealing any information about the sender, receiver, or the transaction amount. Equihash Proof-of-Work Algorithm: Zcash uses the Equihash memory-hard proof-of-work algorithm to address the problem of mining centralization, promoting a more decentralized and fair mining ecosystem. Shielded and Transparent Transactions: Zcash supports both shielded and transparent transactions. Shielded transactions use zk-SNARKs to provide privacy, while transparent transactions work similarly to Bitcoin and have the same privacy properties. Chain Value Pools: All value in Zcash belongs to some chain value pool. There is a single transparent chain value pool and a chain value pool for each shielded protocol (Sprout, Sapling, or Orchard). Value transfers between chain value pools are possible, but the transferred amount is revealed. Viewing and Spending Keys: Zcash utilizes a key-private asymmetric encryption scheme. A shielded payment address includes a transmission key for encryption, while the corresponding private key, called the receiving key, is used to decrypt and view incoming transactions. For Sapling and Orchard, there is also a full viewing key that allows recognizing both incoming and outgoing notes without having spending authority. Content summarized by AI chatbot

Source:

https://github.com/zcash/zips/blob/master/protocol/protocol.pdf