Steemit Crypto Academy season 2 week 8 Homework post for @levycore

in SteemitCryptoAcademy3 years ago (edited)

Greating

To all my friends I hope you will be happy and enjoying good health.Today my post is specially for our hardworking professor @levycore. The lecture was full of information.

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Now first we talk about the Introduction of Privacy Coin according to the professor.

Interoduction

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Source

There are some things in our daily lives that we can't tell anyone tese things are called simply Privacy.Everyone wants their secrets to be kept private.So he takes several steps to protect these secrets.Similarly, he keeps all his privacy to a secret and then makes them safer.Similarly, in today's world of cryptocurrency, many have been created to keep privacy a secret.They are designed so that no one knows about your privacy and your style of working.These are very profitable and good works.
There are many privacy coins in which I select the Zcash.

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Question No.1

Choose a Privacy Coin and perform a fundamental analysis of the coin in detail.

I select the Zcash.
It is a very good and trusted model of the privacy coin which is used in the cryptocurrency.
It enhance the security and privacy which kept our account very save.It totally based upon the bitcoin because all these coin depends upon the Bitcoin.It is also popular for its transparent transaction It was first time mine on October 2016.
It has ability to make the 21 million transactions per a minute. So it is high than the Bitcoin.
There are sheilding pools which makes it transparent and it is controlled by the t-addr.The bitcoin is also controlled by the t-addr.
It is really a good platform for the celebrities and every user.If we Talk about its price.
Today its price is almost.

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First of all I open the Chroom and search Zcash in the Coinmarketcap.
So its Price in Pakistan rupees is almost 23576.
So if we talk about the capatilization of the market of the Zcash then we can said that it is equal to the 498683251244.70.

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So in this picture I label all the points clearly tou can easily understand it.

So if we we talk about the Zcash so it is very secure and rare. AND if we talk about its value so its vale is very low that is very good for every trader and miner. Becuse the as less the amount the profit decreases in that ratio.So many people use this plateform to store their mony and wealth in the form of the cryptocurrency. If they kep in the privacy coin so that they will get more profit than the Bitcoin like coin because they are less secure than the Zecash. But the Zecash works as the principle which is based upon the Bitcoin's Principle of work.

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Question No.2

Describe the steps in creating a wallet for the Privacy Coin of your choice. (Screenshots required)

For creating the Wallet of the Zcash there are some steps.If we follow them and work at the guidance so then we can easily creat our Zcash. So I am also creat my account.
As first I open my mobile phone because it is andriod so I open the playstore of the Phone.So
I simply open the playstore.

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After this I search here the Zcash Wallet which is easily present there so I gind it and open it. Then I crope the phone and edit it carefully.

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After this I open the selective application.
Let see...

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When I open the Zcash wallet then these some options appears to me in which I selection the verification with the Phone Number. I chose it because it is very easy and normal.

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Next page is...
Here I write myPhone number and fhey take some time for sending me the message in the form of code.

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After adjusting the code then the pasword appear to me in the form of message and then I put the code in verification code option. After that I press the Login option.

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Now here I they ask for the some security that keep here the fingerprint that is when uses when we want to open it then we simply make sure our fingerprint and open the Wallet.

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After that in the next page I put my Name and make sure and filled the some formalities.And after that I press the Sign-up option .

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After that our account is created successfully. Here I want to make here my profile photo so I hung there my profile photo.

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So Now finally our account is completely created.

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So here Is my account of the Zcash Wallet which is easily created by me.I feel very relax.

Question No.3

Explain the reason you chose the Privacy Coin. (State the advantages and disadvantages)

This is very lanthy topic.If we talk about the security of the Zcash with compare to the other cryptocurrencies,then ZEC coin is more reliable and more secure or private. If one can save its wealth to the any Bank then it is profitabke to keep this money into the Zecash and its like other Privacy coins. So that the account of the person remain safe and secure. And apart from this its price varies from top to bottom and if we kept our money in it then we can get profit from it and also keep our account safe from other person.
In this era everyone scared of with the fear of being stollen it wealth from the theifs so it should not be keep its wealth and in another way they should do not keep their wealth in a open decentralized blockcain's platform.We can only save this wealth by keep our wealth in the cryptocurrency where our all the infor.ation kept hidden from every person.It is a great thing from the Zcash. By these some specification we can understand about the Zcash's functions and principal of work.
Now we are discussing the fhe advantages and disadvantages of the Zcash.

  • There are the less number of disadvantages and the large number of advantages because it is most popular and have a great respect for all the users.

Advantages

Its security is ver tough and private as compare to other.
It is decentralized privacy currency which is more popular.
We can easily make our transaction transparent with the help of its security and the privacy. The any other user can not see our transaction history and the some other information.

Disadvantages

It have less disadvantage because it is very reliable,secure and private from everyone.
It is baned in the many other countries like Pakistan and other countries. Because it transparate the Bils of the Bank do not issues.

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Conclusion

There are many cryptocoins in the world but the more reliable coins are the privacy crypto coins.Because they have a great privacy and the security for all its users. Many people save their amount in banks and if the keep them into Zecash then they can get a nice from in it. I reslly like the method and princie of the Zcash. I also make a plan to save my some money into it. Because i really like this privacy coin.

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I am very hopeful fhat you really like my post.

Special Mention

@levycore

Regards

@numanfarooq7677

Sort:  

Hi @numanfarooq7677, Thank you for taking my class in the 8th week.

This is the detailed assessment that you get from the results of writing the homework that you have created:

Assessment Aspects
Rating
Privacy Coin Fundamental Analysis
1.5
Creating a Privacy Coin Wallet
0
Explanation of The Privacy Coin Selection
1.7
Conclusion
0.5
Follow Rules and Guidelines
0
Writing
0.5
TOTAL
4.2

Review dan Feedback:

  • Your fundamental analysis is good, but it could be improved by digging up more information.

  • You do not put a watermark on the screenshots that you make.

  • You explained well the reason you chose the privacy coin.

  • Pay attention to the rules and guidelines before posting your homework.

Thank you!