Zcash Powers of Tau Privacy Ceremony Successful

Zcash is one of the first cryptocurrency to build privacy into a blockchain-based currency.

These zero-knowledge methods are baked into the Zcash protocol as zk-SNARKs and enable most of the security features that characterize Zcash.

Unlike other methods by cryptocurrencies to provide user privacy, shielded addresses look identical to observers of the Zcash blockchain allowing for unprecedented levels of transaction privacy in 2016.

To make matters worse, that person could also view every private transaction ever to take place on Zcash, thus compromising the privacy of the entire system.

The Sapling ceremony, the privacy ceremony to initialize Zcash, was scrutinized to the smallest detail.

Following launch day the price of a single Zcash peaked at $5,300 when Bitcoin was trading at less than $720. The Privacy Ceremony 2.0.

Recently, the Zcash team successfully conducted a second ceremony: the "Power of Tau" privacy ceremony.

The second ceremony upgraded many of the security features in the Zcash protocol.

The Power of Tau ceremony will become the primary updating process for the protocol, allowing for a more transparent and trustworthy process for updating Zcash.

Not only that, the Zcash team is still on the cutting-edge of digital currency privacy with many other cryptocurrencies following their lead. Even with the deficiencies of Zcash, future Power of Tau ceremonies will continue to enhance the security and efficiency of the Zcash network.