Acceptance of Zcash
AlphaBay is a link to the AlphaBay URL via the Tor network. It offers all sorts of listings, but mostly illicit drugs, firearms, stolen personal information, etc. The payment is regulated by bitcoins. But now it will also accept Zcash.
AlphaBay Market Transactions are processed through a centralized Escrow system to protect buyers at all times.
This was announced on the popular social media portal, Reddit.
“With the current state of the Bitcoin network, we believe that the addition of other crypto-currencies is the best solution. A few months ago, several journalists asked us whether we would integrate Zcash or not. We have decided to go ahead and accept payments in Zcash from 1 July 2017”, says a spokesperson from AlphaBay
“Due to the sharp increase in the price of Zcash in the past weeks, we believe that this currency has good potential and that its price shows a growing interest of the investing community.”
“Until consensus is reached for the bitcoin network, we encourage users to make purchases with other crypto-currencies to ensure that all transactions are processed. “, added by the spokesperson.
What is Zcash?
For the novice readers, ZCash is the first zero knowledge crypto protocol.
The cryptocurrency offers total payment confidentiality, while still maintaining a decentralized network using a public Blockchain. Unlike Bitcoin, Zcash transactions automatically hide the sender, recipient, and value of all transactions on the Blockchain. Only those with the correct view key can see the contents. Users have complete control and can opt-in to provide others with their view key at their discretion.
A detailed article about Zcash will soon be posted on KryptoMoney.com
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This article is contributed by author Bhargavi Sayee.