Zcash is a cryptocurrency aimed at using cryptography to provide enhanced privacy for its users compared to other cryptocurrencies such as Bitcoin. The Zerocoin protocol was improved and transformed into the Zerocash system, which was then developed into the Zcash cryptocurrency in 2016. Development of protocol improvements and the reference implementation is led by the Zerocoin Electric Coin Company, colloquially referred to as Zcash Company. The founder and CEO of Zcash Company is Zooko Wilcox-O'Hearn. Its founding team includes cryptographer Matthew D. Green from Johns Hopkins University. Roger Ver was one of Zcash Company's initial investors.
Zcash affords private transactors the option of "selective disclosure", allowing a user to prove payment for auditing purposes. One such reason is to allow private transactors the choice to comply with anti-money laundering or tax regulations. Transactions are auditable but disclosure is under the participant's control. The company has hosted virtual meetings with law enforcement agencies around the U.S. to explain these fundamentals and has gone on the record of saying that "they did not develop the currency to facilitate illegal activity".
Zcash faucet is a reward system, in the form of a web site or online apps, that give away free Zcash in the form of a Zatoshi, which is a hundredth of a millionth ZEC, for visitors to claim in exchange for complete a captcha or task as described by the web site. There are also other faucets that dispense alternative cryptocurrencies. Rewards are dispensed at various intervals of time. Zcash faucets usually give away fractions of a Zcash, but the amount will typically fluctuate according to the value of Zcash.
Zcash Faucet is a great way to help introduce new people to Zcash, or to your favourite cryptocurrency. Many faucets provide information to newbies as well as offering them some free zatoshi so that they can try before they buy, experimenting with a test transaction before put real money on the road. Since this whole area is so new and a bit scary to some people, who perhaps don't quite trust it with their hard earned cash yet, this is a great way to promote digital currency and bring in new users.
It is important to note that faucets are not a get rich quick scheme, as the reward amounts are typically quite small and change according on the value of ZEC/USD at any given time. Because of this, many users who join a Zcash faucet allow their total earnings to build up over time until they are ready to have a larger payment sent to their wallet. Typically, users get involved with faucets because they have a desire to understand more about the cryptocurrency niche and are excited at the prospect of earning free Zcash. It’s also a no stress, no-risk way to get started in the crypto industry without have to spend any of your own money on high risk investments.
Many people have noticed how Zcash has been growing and has made a handful of lucky people a lot of money. So, why do Zcash faucets just give away free zatoshi? Are they just being generous and kind? The truth of the matter is that by rewarding users with zatoshi, faucets receive revenue. How so? Banners Ads! Many of the most popular and successful faucet sites host a lot of ads. Whether the ads are PPC (pay-per-click), CPM (cost-per-mille), or just there, chances are the site is making a big money just by having advertisements on the page. In addition to ads, faucet sites might also have affiliate links that can allow earn free Zcash if users follow the link and sign up for or buy something.
Unfortunately, it’s common for Zcash faucets to be totally overloaded with advertisements to the point that they interfere with the user experience. For the time being, though, this is one of the trade-offs of getting a few free zatoshi. In addition to educating new users about Zcash, some web sites choose to utilize Zcash faucets for different reasons, including to boost web site traffic and revenue. Typically, Zcash faucets attract high web site traffic. That being said, if a business or web site has other services or content to advertise to Zcash users, a high traffic faucet is a good way to get the word out and get more people familiar with a company or a brand. Depending on the content being promoted, a web site can also generate income, something that is difficult to achieve in the incredibly competitive niche.
So, you have decided to give Zcash faucets a try and are racking up Zatoshi. Where does it all go, and what can you do with it? For beginners, every Zatoshi earned by complete faucet tasks gets deposited into your wallet, known as a secure digital account, protected with your own private keys. In simple terms, your Zcash wallet functions like your traditional wallet or bank account, and all your private keys can be linked directly to your personal account. For added security and to cater to a wide array of individuals, there are a few different types of wallets to choose from, including desktop, mobile and online wallets. It really depend to personal preferences. And what about micro-wallets?
A micro-wallet is version of a traditional Zcash wallet that allow users to collect small amounts of Zcash before transferring out to your own wallet as the fees for transferring small amounts of ZEC will cancel out anything earned. Sometimes, when faucets pay tiny amounts of Zatoshi, it will be deposited to a user micro wallet provider. From a user’s perspective, there are no extra steps to go through to get a micro wallet. In fact, one micro wallet is automatically created when a user creates an account with a Zcash faucet. It’s very important to note, however, that micro wallets have limits of anywhere between 10,000 and 20,000 Zatoshi. Once that limit is met, the Zatoshi will be paid out to a user main Zcash wallet.
Like almost everything on the internet, Zcash and cryptocurrency faucets make revenue with crypto advertising. The more people that visit the web site or online app, the more advertising revenue the faucet can make. The difficulty for the numerous Zcash faucets is attracting people to begin with. The “best” faucet sites offer the users something do other than clicking a “Claim” button and closing the tab. Some faucets use browser games to boost users engagement, while others offer spin the wheel type contests with payout boosting prizes to allure potential and existing users. Others offer gambling games where users can stake their earnings against the site in the hope of winning more. Unfortunately, some sites use cryptocurrency mining scripts that hijack visitors CPU to mine free cryptocurrency. The majority of sites using scripts of this kind are cryptojacking: stealing your CPU and electricity to earn cryptocurrencies. That said, there are some that use only a small amount of your CPU, and some may even offer the option of turning on the script.