Z-cash is a untraceable digital currency. There are so many crypto currencies that has similar properties like monero and darkcoin but Z-cash is considered quite different because it has it's own private ledger. Z-Cash is also named as Zerocoin and experts consider this coin as the most close rival to bitcoin. Because of it's security many people love z-cash. In Bitcoin all transaction must pass through a special software in order to become untraceable but when you do transactions in z-cash it is not required to pass through any kind of softwares or intermediaries.
Z means zero Knowledge proof which means that this currency is perfectly anonymous. There can never occour double spending in z-Cash because no one can counterfeit it.