ZCash (ZEC): The creation of Bitcoin has seen the birth of Altcoins seeking to improve on Satoshi Nakamoto’s dream. With increased demand from the user, it is clear that the issues of scalability and total anonymity are key features that that the crypto aware consumer is looking for. Privacy coin ZCash (ZEC) has been developed to complement Bitcoin in addressing these concerns.
The idea behind Bitcoin was to provide advanced anonymity compared to that of the traditional fiat currency. However, it did not provide a fool proof solution to this this he emergence of privacy coins. These have become very popular especially for traders and investor seeking to have their digital wealth portfolio shielded from the public scrutiny.
ZCash (ZEC) and Privacy Coins Association with Dark Web Marketplaces
The dark web marketplace has been in existence even before the introduction of cryptocurrencies. Privacy coins are just an additional avenue to keep your online transactions private and not necessarily for illicit trading for banned goods and substances. It is a simple way to safeguard your financial transaction away from a public ledger.
Privacy coins have become popular in real world vehicles for concealing not only transactions details, but personal information as well. ZCash, Monero and Dash are some of the big players in the market seen by Bitcoin lovers as Satoshi Nakamoto dream killers. However, the truth is, they are building on his vision and responding to the ever demanding consumer needs.
Reasons why ZCash (ZEC) is winning in Privacy
Compare to Monero which forked from the suspected shady Bytecoin, XMR has been associated with the dark web dealings and coin distribution manipulation. ZCash is professionally designed and backed by one of the best developer teams in the industry comprised of highly skilled cryptographers and scientists. This has made it grow in less than two years to rank 19 with a current market cap of $782million.
ZCash is a direct fork from Bitcoin and has gone further to strengthen its privacy function by introducing zk-SHARKs (zero-knowledge Succinct Non-Interactive Argument of Knowledge proofs). This technology encrypts all transaction data throughout the network without making transacted details pubic. However, you have an option to remain transparent through the public ledger feature.
ZCash protects both the sender and receiver and transactions cannot be traced. The only trace that your transaction attracts is the time the transaction was initiated. This explains why the coin adoption is on the rise both in illegal and clean business transaction. It is up to you to decide the feature that meets your transaction requirements.
ZCash is secure and has no history of attacks and has proved to be a safe haven for different traders and investors. After Monero got hit by the ransom ware WannaCry recently, interest has been shifted to its competition and ZCash was the largest beneficiary. This has led to increased adoption and a spike on ZEC coin price.
ZCash Price Check Today
With the rollercoaster market, ZCash has been trading in the green for the last 24 hours. The ZEC coin has been able to gain3.58% to the USD and 1.88% to BTC to trade at $170.54 at press time. This comes after four days of trading in the red, a trend that has been experienced by major coins which has seen to total market cap drop to the month’s all-time low of $227.3billion.
The ZCash visibility appears to be on the rise globally with major support coming from global exchanges like LBank accounting for 43.29% and Huobi with 8.91% of the total volumes in the last 24-hour trading session. ETC, BTC and USD are the most popular ZEC pairs which is also a huge boost for the coins value and good adoption vehicles.