ZCash is launched in 2016 by Zooko Wilcox-O’Hearn and based on the Zerocoin protocol. Zcash (ZEC) is a decentralized and open-source privacy-focused cryptocurrency that enables selective transparency of transactions. Zcash (ZEC) aims to empower everyone with economic freedom and opportunity, with a belief that personal privacy is essential for core human values like dignity, intimacy, and ethics. Companies need privacy in order to conduct business. Privacy strengthens social ties and social institutions, enables democracy and civil political processes, protects societies against their enemies, and helps societies to be more peaceful and more prosperous. Zcash's Electric Coin Company claims to be a science-driven team, the discoverers of the underlying scientific techniques and the designers of the technology but the ultimate controllers of the network lies in the hands of the users. ECC believes in decentralization, which promotes security and fairness. Every user of Zcash is a part of the network, and helps protect it against failure and corruption.