Ycash (y.cash) PriceYEC

What is Ycash (YEC)?

Ycash (YEC) is a privacy-focused digital currency created as a chain fork of Zcash, described as the first "friendly fork" of the Zcash blockchain. It positions itself as "the future of cash," designed to empower local and online communities around the globe by giving them control over the money they earn, spend, and save. Ycash utilizes zk-SNARKs, a form of zero-knowledge proof protocol inherited from the Zcash codebase, to enable secure and private transactions. The project addresses two core issues: privacy and distribution. By adopting the Zcash codebase, it inherits a proven privacy solution, while periodic updates to its mining algorithm aim to ensure a broad and equitable distribution of coins. Ycash has a maximum supply of 21,000,000 YEC, with a total and circulating supply of approximately 16.93 million YEC, representing about 80.62% of the max supply. The project launched in July 2019 and reached a significant milestone in November 2024, when 100% of all newly issued coins began being distributed directly to miners through a permissionless, free-market mining process.

Key Specifications & Tokenomics

• Name: Ycash (y.cash)
• Ticker / Symbol: YEC
• Consensus: Proof-of-work (PoW) via commodity hardware (GPU mining)
• Smart Contracts: Wry (WRY) is a wrapped Ycash token on Ethereum
• Category: Privacy; Privacy Coins
• Max Supply: 21,000,000 YEC
• Total Supply: 16.93M YEC
• Circulating Supply: 16.93M YEC (approximately 80.62046875% of max supply)
• Originating Blockchain: Zcash (chain fork of Zcash)
• Launch Date: July 2019
• Distribution Allocation: 90% via free market mining; 5% set aside for the Ycash Development Fund starting at block height 570,000
• CertiK Rating: 3.2

Who created Ycash?

Ycash was founded by Howard Loo, a software engineer who also serves as the founder of the Ycash Foundation. The project is supported by a community structure that includes developers and contributors. The Ycash Foundation is a nonprofit organization devoted to the ongoing development and sustainability of the Ycash project. In April 2019, Howard Loo was reported to be working to get exchanges to carry Ycash, though no definite commitments were confirmed at that time. The project maintains a presence on social media through its Twitter account, @YcashFoundation, which is used for important announcements, and a Discord channel referenced in the project's Fact Sheet.

How does Ycash work?

Ycash operates as a proof-of-work blockchain that shares its first 570,000 blocks with the Zcash blockchain. This shared history means that anyone who controlled Zcash private keys as of block height 570,000, around July 18, 2019, could use those same private keys to access an equivalent amount of Ycash. The network utilizes zk-SNARKs, a zero-knowledge proof protocol that allows transactions to be verified without revealing sensitive information, thereby providing strong privacy guarantees. Mining is conducted via commodity hardware, specifically GPU mining, making it accessible to anyone with a GPU and an internet connection. The mining algorithm undergoes periodic updates intended to address distribution fairness. The blockchain is capped at 21 million coins, mirroring Bitcoin's scarcity model, and is described as inflation-free. The Ycash Development Fund, managed by the nonprofit Ycash Foundation, receives a 5% allocation of coins starting at block height 570,000 to support ongoing development.

What makes Ycash unique and valuable?

Ycash distinguishes itself through its dual focus on privacy and fair distribution. As a chain fork of Zcash, it inherits a robust privacy framework based on zk-SNARKs, allowing for secure and private transactions. Its approach to distribution is notable: 90% of the total 21 million coins are allocated through a permissionless, free-market mining process open to anyone globally with a GPU and internet access. This approximates the fair-distribution economics of Bitcoin. Beginning in November 2024, 100% of newly issued coins go directly to miners, further emphasizing its commitment to decentralized distribution. The project also introduces a wrapped token, Wry (WRY), on Ethereum, with 1 WRY representing 1 YEC taken out of circulation by the Ycash Foundation, bridging Ycash into the DeFi ecosystem. Ycash is positioned as fast, borderless, and available 24/7, offering a practical alternative to traditional banking for sending value globally within minutes.

What is Ycash used for?

Ycash is designed to function as digital cash for everyday use, enabling users to earn, save, and spend without borders or inflation. Its primary use cases include private peer-to-peer transactions, remittances, and community-based commerce. Because transactions can be sent to anyone on the planet within minutes, Ycash is suitable for fast, low-cost value transfer. The Wry (WRY) token extends Ycash's utility into the Ethereum DeFi ecosystem, where it can be bought on Uniswap and used in decentralized finance applications. The Ycash Development Fund supports the project's long-term sustainability, ensuring continued development and maintenance of the network. Additionally, Ycash can be mined by individuals using GPU hardware, providing a way to earn the currency through participation in network security.

How Is the Ycash ecosystem developing?

The Ycash ecosystem includes several key components. YWallet is a wallet application available for Android, iOS, and desktop, providing users with a way to store, send, and receive YEC. Wry (WRY) is a wrapped Ycash token for DeFi on Ethereum, currently in beta, with 1 WRY equal to 1 YEC taken out of circulation by the Ycash Foundation; it can be purchased on Uniswap. The Ycash Foundation, a nonprofit organization, manages the Ycash Development Fund, which receives a 5% allocation of coins starting at block height 570,000 to support ongoing development. The project maintains an active community through its Twitter account and Discord channel, and its codebase is accessible via the Crypto.com price page. Ycash continues to develop its infrastructure with a focus on privacy, fair distribution, and accessibility for local and online communities worldwide.

How to mine Ycash?

Ycash uses a proof-of-work consensus mechanism that can be mined using commodity hardware, specifically GPUs. This makes mining accessible to anyone with a GPU and an internet connection, without requiring specialized ASIC equipment. The mining algorithm is subject to periodic updates aimed at ensuring a broad and equitable distribution of coins, addressing what the project describes as "The Distribution Problem." Beginning in November 2024, 100% of all newly issued Ycash coins are distributed directly to miners through this permissionless, free-market mining process. Miners participate in securing the network and validating transactions, earning YEC as a reward. The maximum supply of 21 million coins is forever capped, with 90% of the total supply allocated via mining. Those interested in mining Ycash should ensure their hardware meets the requirements and join a mining pool or solo mine according to their preferences and resources.

How to keep your Ycash Coin safe?

To keep Ycash coins safe, users should store them in a reputable wallet. YWallet is the official wallet available for Android, iOS, and desktop, providing a secure and user-friendly option for managing YEC. Because Ycash inherits Zcash's privacy features, transactions can be conducted with enhanced confidentiality, but users should still follow best security practices. These include safeguarding private keys, using strong and unique passwords, enabling two-factor authentication where available, and keeping wallet software up to date. For those holding larger amounts, consider using a hardware wallet if supported, or storing funds in a wallet where private keys are under the user's control. Since Ycash is a digital currency, users should be cautious of phishing attempts, fake wallets, and untrusted links. Before acquiring YEC, it is advisable to conduct thorough research and consider the experimental nature of digital currency projects. Purchasing Ycash generally involves buying from a cryptocurrency exchange; users can follow standard steps such as creating an account, completing verification, and purchasing YEC with supported fiat or crypto pairs. Always verify the authenticity of any wallet or exchange before use.