New Bitcoin Rival Promises Anonymity for Online Purchases

(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.