5 Recent Non Technical Developments In Zcash Crypto Coin

Zcash is a new type of open-source and decentralized cryptocurrency. Its technology innovation has gained increasing attention from crypto community since the launch in late 2016. There was so much hype during the listing and it started trading at 3300 BTC per 1 ZEC and eventually got cracked.  Zcash has enhanced Bitcoin 0.11.2 code version with fully protected privacy of transactions using zero-knowledge cryptography. 

Zcash payments are published on a public blockchain, but the amount of a transaction, sender and recipient remain anonymous to public. ZEC has a total volume of 21 million like Bitcoin. But unlike Bitcoin, Zcash encrypts the contents of shielded transactions and only private key holders can see the contents of a transaction. Till now, about 1.5 million ZEC have been mined with a total market cap of about 570 million dollars. The market performance of ZEC is promising.



1. ViaBTC.cn ADDING ZEC/CNY PAIR TRADING

ViaBTC.cn will be releasing a new ZEC/CNY(Chinese Yuan) trading pair this week. Deposit and withdrawal of ZEC will be available at 18:00, June 22nd 2017 and trading available at 18:00, June 23rd 2017 from ViaBTC.cn.

2. ZCASH TEAM LAUNCHED ZCASH FOUNDATION

In March 2017, team behind zcash launched zcash foundation with below motives.
1. promote a healthy and diverse Zcash community,
2. steward the Zcash protocol and source code as a public good,
3. advance the science of privacy-preserving cryptocurrency and
4. educate the public regarding the substance and benefits of these scientific developments.

The Zcash Foundation board members are volunteers, and the Foundation is funded by donations from the public. Zcash Foundation helps to have a concrete plan, especially to get in the habit of building public accountability. The initial goals of the foundation are the following:

1. Organize the first Zcon conference.
2. Build discussion forums and polling systems to recognize the various stakeholders
3. Define the governance structure and policy documents for the Foundation

The Zcash Foundation now has 273,000 zcash. As part of the network’s rules, 10% of the cryptocurrency’s mining rewards are automatically awarded to foundation, which would rather strengthen the whole community.


3. PREDICTION BY CRIS BURNISKE ON ZCASH

Chris Burniske, a famous analyst on crypto space has come up with a valuation calculation for zcash by 2025. According to hm, zcash will be having a market capitalization of 60 billion by 2025. Market cap of zcash at the time of writing this post is just $649,087,599. If his prediction goes right, zcash can give approx 100X in next 8 years time.

4. RIPIOAPP ADDING ZEC TRADING

RipioApp is a leading crypto exchange in Latin America. Though volume wise, it cannot create a big difference, it clearly shows the growing popularity of zcash across different geographies.

5. ZCASH/BTC CHART LOOKS SUPER BULLISH

I published my technical analysis on zcash a week back in tradingview. The chart has formed a round bottom and it is waiting to explode. If zcash breaks out $500 with supportive volume, it will not take much time to reach $1000 mark. Trade at your risk!!

Round Bottom Pattern in Zcash by hiddengemsind

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