Zcash (ZEC) now on Coinbase

Zcash (ZEC) has announced it is to go live on the Coinbase app (iOS and Android).

In an interesting move for Coinbase, they listed the popular privacy coin from the group of five that initially outlined in a July announcement.

The technology behind the Zcash blockchain is being widely talked about. ZK-snarks is rumoured to feature in Ethereum’s move to PoS in their upcoming Serenity Release.

The protocol level

In the blog-post, Coinbase sighted an analogue for Zcash between “transparent” and “shielded” transactions, as compared to un-encrypted and encrypted HTTPS.

“In both cases, the un-encrypted/transparent version of the protocol allows third parties to see metadata associated with the communication or transaction, while the encrypted/shielded version protects this information. ”

Users can initially send Zcash to Coinbase from both transparent and shielded addresses, but only send off Coinbase to transparent addresses. Coinbase will explore support for sending ZEC to shielded addresses in locations where “it complies with local laws”.

Regulatory arbitrage

It was announced that “ZEC will be available for customers in most jurisdictions, but will not initially be available for residents of the United Kingdom or the state of New York”.

“Additional jurisdictions may be added at a later date.”