Cryptocurrency exchange Coinbase recently announced the launch of its Coinbase Earn Page, which allows users to earn Zcash (ZEC). According to Coinbase, Zcash is a cryptocurrency that uses recent advances in cryptography to give users the option to protect their financial privacy when transacting with cryptocurrency. Zcash does this by offering two types of addresses–“transparent” addresses and “shielded” addresses. Coinbase explained:
“A good analogy for this distinction is HTTP (unencrypted) and HTTPS (encrypted). In both cases, the unencrypted version of the protocol is transparent, which allows third parties to see information about the transaction, while the encrypted/shielded version protects this information. This can help keep your financial information safe, so it can’t be sold, shared, or spied on by third parties.”
Coinbase went on to add that it expects earning to become an increasingly important function in the crypto ecosystem–alongside buying and mining–especially when paired with education.
“We hear from people that they’re always looking for trusted sources to educate themselves about new developments in crypto, and we want to help serve that need.”