In the present day, Zashi CrossPay brings Zcash’s mathematically provable, best-in-class privateness to crypto funds throughout blockchains. Anybody holding shielded ZEC can now ship funds privately in any NEAR-supported cryptocurrency.
CrossPay is essentially the most important step but in Zashi’s mission to normalize non-public funds.
The Drawback:
Till now, sending crypto funds often meant giving up privateness. Hottest blockchains solely create an phantasm of privateness. Pockets addresses could appear to be random strings, however they’re everlasting identifiers: all previous and future transactions might be traced and tied to pockets house owners by blockchain surveillance firms and anybody with entry to a free block explorer web site. Fee particulars (who paid whom, how a lot, and when) are saved publicly ceaselessly. That knowledge might be mixed with off-chain info (like trade information or IP addresses) to disclose your real-life identification and monetary habits. That is harmful.
Zcashers have all the time understood the implications of utilizing different blockchains, but when they wanted to make a cost in a distinct cryptocurrency, that they had solely two choices:
- Purchase the foreign money the recipient desires and transact on a public chain.
- Or attempt to persuade the opposite individual to take shielded ZEC.
Neither possibility labored effectively. Shopping for the goal coin sometimes entails utilizing a centralized trade, offering private info, after which leaving a everlasting path on a public ledger to finish the cost. On the similar time, asking somebody to change to Zcash generally is a heavy carry, particularly when the opposite facet has fastened insurance policies on most well-liked cryptocurrencies, e.g. stablecoins.
The Resolution: Zcash + Zashi + CrossPay
Zcash is a blockchain that provides cryptographically assured privateness. Zashi is a Zcash-powered self-custody pockets constructed by the privacy-obsessed builders of the Zcash protocol. We exit of our option to know as little as attainable about Zashi customers and decrease metadata leakage.
With Zashi CrossPay, that very same privacy-first basis now powers funds throughout chains:
- Direct, frictionless funds from shielded ZEC to any in style cryptocurrency. No want to the touch some other app or trade.
- Any cryptocurrency might be paid privately: stablecoins, BTC, ETH, SOL, or some other NEAR-supported cryptocurrency. Your privateness is protected whatever the cryptocurrency your recipient prefers. Their decisions don’t need to compromise your safety.
How It Works:
- Open Zashi and click on the Pay button.
- Select the cryptocurrency your recipient desires to obtain.
- Enter the vacation spot pockets handle and the goal token quantity, overview, and make sure.
Zashi and NEAR Intents will deal with the remaining: your shielded ZEC will probably be used to cowl the cost and costs, NEAR will swap your ZEC underneath the hood, and your recipient will obtain the precise quantity you indicated of their chosen cryptocurrency.
Word: If you happen to’re new to Zashi, begin by downloading the app and funding it with ZEC. Use Zashi’s Coinbase integration to get ZEC in minutes utilizing a debit card (USA solely) or your Coinbase account.
This launch is a milestone for Zcash as its shielded expertise continues to increase past our group, defending anybody who desires to make a cryptocurrency cost with out compromising their privateness.
Welcome to the subsequent period of personal funds. Shields up, everyone.
Comfortable transacting.
