Zcash

What Zcash does

Zcash is a decentralized privacy-focused cryptocurrency protocol launched in October 2016 as the first production deployment of zero-knowledge proofs (zk-SNARKs) for blockchain transactions. The protocol, originally developed by the Electric Coin Company (ECC) in Denver, Colorado under founder Zooko Wilcox-O'Hearn, enables optional privacy through a dual-address model — users can transact via transparent (t-address) or shielded (z-address) pools, with the Halo 2 recursive proving system (deployed via NU5 in May 2022) eliminating the need for trusted setup ceremonies. Key technical components include the Orchard shielded pool (now superseded by Ironwood as of July 2026), Unified Addresses, and the Sapling pool. The current network is governed by a multi-entity ecosystem following the January 2026 departure of the ECC development team, with Zcash Foundation, Shielded Labs, Zcash Open Development Lab (ZODL), and Sovright collectively sustaining protocol development.

The core product is the ZEC token, with a hard-capped supply of 21 million coins (~16.79M issued, ~80%) and ~75-second block times. Post-NU6.1 (November 2024), block rewards are allocated 80% to miners, 8% to Zcash Community Grants, and 12% to a coinholder-controlled lockbox — replacing the prior model that directed 20% of block subsidies to ECC, the Zcash Foundation, and ZCG. Zcash distributes through 15+ exchanges (Binance, Coinbase, Kraken, Gemini, Robinhood), nine-plus self-custody and hardware wallets (Zashi, Zingo!, YWallet, Edge, Trezor, Keystone), merchant payment rails (Flexa SPEDN at Lowe's, Nordstrom, Baskin Robbins; Moon for online Visa acceptance), and institutional products (Grayscale Zcash Trust, Grayscale and Bitwise spot ETF applications on NYSE Arca). Foundry Digital launched a Zcash mining pool in April 2026, capturing ~29% of network hashrate.

Zcash serves three primary customer segments: privacy-conscious individual users seeking financial privacy from on-chain surveillance; institutional investors (Multicoin Capital, Cypherpunk Technologies, Grayscale) seeking privacy-asset exposure via ETF-eligible vehicles; and developers/ZK researchers integrating Zcash's cryptographic primitives (e.g., Dash's Orchard integration). Current network scale metrics include ~$8.59B market cap, ~$272M daily payment volume, ~4.4M ZEC (~26% of supply) held in shielded pools as anonymity set, and ~$750M open interest ahead of the July 2026 Ironwood upgrade. Strategic priorities going forward include scaling to 50,000 TPS via Project Tachyon and the Zakura full node, formal verification of shielded pool integrity, and pursuing post-quantum cryptography upgrades within 12–18 months.

Name

Zcash

Legal name

Electric Coin Co.

Website

https://z.cash

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

1–10 employees

Short description

Zcash is a decentralized privacy-focused cryptocurrency protocol using zk-SNARKs and Halo 2 zero-knowledge proofs to enable encrypted peer-to-peer transactions. It serves privacy-conscious individuals, merchants, and institutional investors via 15+ exchanges, multiple self-custody wallets, payment rails, and emerging spot ETF products.

Ownership category

akta.pro rank

Product category

Privacy Cryptocurrency

NAICS

Securities and Commodity Exchanges (52321)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Identity, Credentials & Permissioning for Enterprises (DID/VC, access control, attestations) (FSAPAIAG)

akta.pro secondary industries

Digital Asset Custody & Wallet Infrastructure for Institutions (MPC/HSM, key mgmt, policy controls) (FSAPAIAE), Access Management & Policy Enforcement (Authorization, ZTNA integration) (HDAEAJAG)

Keywords

• Privacy cryptocurrency
• Zero-knowledge proofs
• Shielded transactions
• Cryptographic protocol
• Digital currency

Headquarters

HQ city

Denver

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Blockchain Protocol — Block Rewards & Transaction Fees: Zcash miners earn block rewards (currently 1.5625 ZEC per block, halving approximately every four years) plus transaction fees. Every 75 seconds a new block is mined. This is the primary economic incentive for network participants and represents the core protocol revenue mechanism. Inflation almost precisely mimics Bitcoin's schedule, dropping at each halving.
2. Development Fund — Block Subsidy Allocation: Following NU6.1 (November 2024), 80% of block rewards go to miners, 8% to Zcash Community Grants (ZCG) for independent ecosystem funding, and 12% to a 'lockbox' controlled by coin-holder decisions. The previous model allocated 20% of block subsidies directly to ECC, Zcash Foundation, and ZCG.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels10 records

Core offering

Zcash is a decentralized privacy-focused cryptocurrency that enables peer-to-peer value transfer with optional on-chain transaction privacy. Built as a fork of Bitcoin and launched in 2016, it leverages zero-knowledge proofs (zk-SNARKs and the Halo 2 proving system) so that shielded transactions can be validated without disclosing sender, receiver, or amount on the public ledger. The protocol supports both transparent addresses (t-addresses) and shielded addresses (z-addresses), giving users and developers a choice between auditable and private transfers on a fixed-supply network capped at 21 million ZEC.

Product overview

Zcash is a privacy-focused blockchain protocol offering encrypted electronic cash for private peer-to-peer payments. The ecosystem consists of the core Zcash (ZEC) cryptocurrency, multiple wallet products (Zashi by ECC, Zingo!, YWallet, Edge), node implementations (Zebrad by Foundation, Zcashd being deprecated), and developer tools (Official Wallet SDKs). Key technologies include the Halo zero-knowledge proving system, Orchard shielded pool, and Unified Addresses. Project Tachyon and the Zakura node target 50,000 TPS scaling. Recent network upgrades include NU6.1 (November 2025), NU6 (November 2024), and upcoming NU7. The Ironwood (NU6.3) upgrade scheduled for July 28, 2026 replaces the Orchard pool with new cryptography and turnstile mechanism to address counterfeiting vulnerabilities.

Differentiator

Problem solved

Functional benefit

Products and services

• Zcash (ZEC)
• Zashi Wallet
• Zingo! Wallet
• YWallet
• Edge Wallet
• Zebrad
• Zcashd
• Zcash Wallet SDKs
• ZGo
• Free2z
• Zakura Node
• Halo

Quantifiable outcome

• 21M fixed max supply (same as Bitcoin), with ~16.79M already issued (~80%)
• +3 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration33 records

AI capability3 records

Feature8 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• DashcoreStrategic or Co-development Partner · 17 July 2026Dash integrated Zcash's Orchard shielded pool into its Evolution chain (Dash Platform v4.0.0), enabling private transfers with approximately one-second transaction confirmations. This represents a direct technology adoption of Zcash's privacy protocol, positioning Dash as a payments-focused network with Zcash-grade privacy.
• Tor Project and Funding the CommonsminorGTM or Marketing Partner · 19 May 2026The Tor Project and Funding the Commons launched a Web3 crowdfunding campaign accepting Zcash (alongside BTC, ETH, XMR) for 10 nonprofit privacy/censorship projects. A $115,000 matching pool from Cake Wallet, Zcash Community Grants, Logos, and Octant uses quadratic funding to amplify donations through June 18, 2026.
• Cake Wallet, Zcash Community Grants, Logos, OctantminorGTM or Marketing Partner · 19 May 2026Partnership providing a combined $115,000 matching pool for the Tor Project's Web3 crowdfunding campaign. Zcash Community Grants contributes to internet freedom initiatives alongside broader crypto privacy projects.
• Foundry DigitalcoreStrategic or Co-development Partner · 13 March 2026Foundry Digital (world's largest Bitcoin mining pool, ~31% of BTC hashrate) launched a U.S.-based Zcash mining pool in April 2026 — its first major expansion beyond Bitcoin. The pool targets institutional and publicly traded mining firms with compliance-ready infrastructure and institutional-grade reporting tools.
• Vitalik Buterin / Ethereum FoundationcoreStrategic or Co-development Partner · 7 February 2026Ethereum co-founder Vitalik Buterin donated to Shielded Labs to support Crosslink, a major Zcash upgrade designed to improve transaction finality and reduce chain reorganization risks. Reflects Buterin's view that privacy should be treated as core blockchain infrastructure.
• Filecoin Foundation and Electric Coin Co. Joint GrantscoreStrategic or Co-development Partner · 1 June 2023Filecoin Foundation and Electric Coin Co. established a joint grants pool with $5 million available for projects that add utility to both FIL and ZEC chains. Specific opportunities include Filecoin storage payments in ZEC, media/file support in Zcash encrypted memos and NFTs, and a zero-knowledge virtual machine. Innovation beyond these ideas is also encouraged.
• Electric Coin Company (ECC)coreStrategic or Co-development PartnerECC created and launched Zcash in 2016 and continues to support the ecosystem through product development, research, and awareness. Widely recognized as one of the strongest cryptography teams globally. Discovered Halo, the recursive zero-knowledge proving system. Underwent governance dispute in January 2026 resulting in team departure from Bootstrap and subsequent restructuring.
• Zcash Foundation (ZF)coreStrategic or Co-development PartnerA 501(c)(3) public charity dedicated to building financial privacy infrastructure for the public good. Maintains Zebra, the independent consensus-compatible Zcash node implementation in Rust. Governs the protocol alongside ECC through trademark agreement requiring mutual consent for new consensus upgrades.
• Shielded LabscoreStrategic or Co-development PartnerIndependent, donation-funded Zcash support organization based in Switzerland. First organization in the Zcash ecosystem that has never received direct or indirect funding from the Development Fund or block rewards. Coordinated the response to the Orchard bug discovery using Anthropic's Claude Opus 4.8, and requested Anthropic's full protocol audit using Mythos model.
• Project Tachyon / Valar GroupcoreStrategic or Co-development PartnerProject Tachyon is working on formal verification of the Ironwood upgrade using mathematical proofs. Valar Group is co-developing the Zakura full node targeting 50,000 TPS. Both initiatives represent the primary scalability and security roadmap for Zcash post-Ironwood.
• Zcash Open Development Lab (ZODL)coreStrategic or Co-development PartnerZODL emerged from the governance restructuring following the ECC team departure in January 2026. Maintains zcashd node implementation (now deprecated, transitioning to Zebra and Zallet). Released Zodl wallet v3.7.0 and held ZODL Summit. Secured $25M in funding.
• SovrightminorStrategic or Co-development PartnerNonprofit that assumed stewardship of parts of the Zcash ecosystem from Electric Coin Company. Released Argos desktop recovery tool on June 30, 2026, and launched a Sovright mining pool on testnet that pays out in shielded ZEC to extend privacy protections into the mining-reward pipeline.

Scale indicators13 records

Recent moves7 records

Expansion highlights8 records

Direct peers

• Secret Network: Secret Network is a privacy-first smart contract platform using Trusted Execution Environments (TEEs) for encrypted computation. It competes with Zcash for the same privacy-conscious developer audience, but focuses on programmable private contracts rather than private payments.
• Horizen: Horizen is a privacy-focused blockchain that supports shielded transactions and sidechains for ZK-proof applications. It targets an overlapping audience of privacy-focused users and dApp developers, with a smaller ecosystem but similar optional-privacy positioning.
• Pirate Chain: Pirate Chain (ARRR) is a privacy-only cryptocurrency that mandates shielded transactions (unlike Zcash's optional model). It appeals to more ideologically-driven privacy users but has far smaller liquidity and ecosystem support.
• Beam: Beam is a privacy cryptocurrency using the Mimblewimble protocol for confidential transactions. It targets the same privacy-focused payments niche as Zcash with a different cryptographic foundation, and has a smaller team and ecosystem.
• Monero: Monero is the largest privacy-focused cryptocurrency by market cap, using ring signatures and stealth addresses rather than ZK-SNARKs. It is Zcash's most direct competitor in the privacy coin category, with deeper merchant adoption but facing even more acute regulatory headwinds (already delisted from several major EU exchanges).
• Dash: Dash is a payments-focused cryptocurrency that recently integrated Zcash's Orchard shielded pool via Dash Platform v4.0.0. It is both a peer (privacy/payments positioning) and a Zcash technology adopter, competing for the crypto-payments narrative with faster confirmations but a smaller privacy feature set.

Broad incumbents

• Ethereum: Ethereum is the largest smart contract platform and increasingly the home of privacy-preserving L2s (Aztec, Railgun, Tornado successors). It is a broad incumbent competing for institutional capital and developer mindshare, with privacy L2s potentially eroding Zcash's pure-privacy positioning over time.
• Bitcoin: Bitcoin is the parent chain from which Zcash forked in 2016, sharing the same 21M fixed supply and halving schedule. As the broad incumbent, Bitcoin dominates crypto market cap and institutional adoption, setting the standard that Zcash attempts to differentiate against with privacy features.

Emerging players

• Aztec Network: Aztec is a privacy-focused zero-knowledge L2 on Ethereum that enables programmable private smart contracts. It competes for the privacy-and-ZK narrative with deeper smart contract composability, leveraging Ethereum's ecosystem rather than operating as an independent L1.
• Iron Fish: Iron Fish is a newer privacy cryptocurrency built on zero-knowledge proofs (Halo 2, similar to Zcash). It targets a similar privacy-first user base with a focus on full node accessibility, but as a much younger project with lower liquidity and brand recognition.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/zcashco
• GitHubgithub.com/zcash/zcash
• LinkedInlinkedin.com/company/zcashco

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds7 records

Investors10 records

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M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Zcash