New Bitcoin Rival Promises Anonymity for Online Purchases

By Timothy Sohn Oct 31, 2016 8:23 PM EST

(CNBC) – A new cryptocurrency launched late last week, claiming to allow users to make online purchases anonymously and sparking controversy and a negative reaction from the authorities. Zcash launched last Friday and is currently worth $498 dollars per coin, in comparison to $706 for one bitcoin. Zcash uses a technique called “zero-knowledge proofs” to ensure coin exchanges are valid but without revealing extra information to either user.

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