Speculators are snapping up a new virtual currency known as Zcash that was designed by university academics and built to be all but untraceable.Investors were paying over $1,000 for a single unit of Zcash on Monday, a few days after the currency was first brought online. Zcash’s developers say they have used advanced cryptography to create a virtual currency that can be sent around the world essentially without a trace, unlike Bitcoin.Mr. Wilcox and the programmers who created Zcash say that they developed the currency not to facilitate illegal activity but to provide a degree of privacy for people who do not want their financial transactions visible to the world.
