Cubic Zirconia (CZ) is a synthetic gemstone made from the cubic crystalline form of zirconium dioxide. CZ is usually hard and colorless and looks very much like a real diamond, although it is far less expensive. Because it so closely resembles a diamond, CZ is a popular gemstone alternative when you are looking to cut your budget but still wear beautiful jewelry, and it’s often used in placeholder engagement rings, earrings, and larger sized stones.