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Zcash is a payment and consensus system that allows users to transfer money to each other with strong guarantees of privacy. Zcash implements the same core features of Bitcoin, with the added functionality of shielded payments.
Shielded payments are private, and they are enabled by a novel cryptographic technique called zk-SNARKS: zero knowledge succinct non-interactive argument of knowledge. A zk-SNARK allows for the proof that a certain piece of information is valid without revealing any information other than the validity of that information itself.
Before you listen to this episode, it might be useful to go back to our previous episode about Zcash with Nathan Wilcox, in which he gives an overview of the technology. This episode is a deeper dive into how Zcash transactions work, and why zk-SNARKS are important.
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