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How Cardano’s IOHK is enabling the creation of verifiable but private cryptocurrencies

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The debate about privacy when using cryptocurrencies has been a long-standing one. From crypto miners, developers and even investors, embracing anonymity and privacy have almost become a requirement for mass adoption and uptake. Even though privacy and anonymity have been used by financial industry pundits to paint a bad picture for cryptocurrencies in general, these are two features that enable any cryptocurrency enthusiast to redeem their right to have total control over their money. AS IOHK CEO puts it,

Privacy is a human right and has to be protected

After all, one of the magical aspects of cryptocurrencies is that they give control of money back to the people. Although Bitcoin has been the golden standard for cryptocurrencies, it does not provide anonymity as most people would think. This has led to the rise of various altcoins claiming to provide anonymity and privacy. To this regard, Cardano’s IOHK partnered with ZenCash at the beginning of the year to come up with a reliable, private but resilient cryptocurrency.

The partnership between IOHK and Zen Cash

The partnership between ZenCash and Cardano’s IOHK will be a step closer towards establishing purely borderless transactional and communication system that allows parties to interact regardless of their background socioeconomic status or location.

ZenCash is a Blockchain project launched on May 30th last year with a focus on providing a networking and privacy infrastructure for anonymous and secure communication, transaction and collaboration. By partnering with IOHK, ZenCash will not only be able to upgrade its Blockchain protocol but it will also build and implement IOHK’s treasury model so as to ensure efficient allocation of decentralized resources on a community-driven governance system.

Building beyond privacy

The research project, led by Dr. Roman Oliynykov who is an IT researcher and cryptographer, will build on the ZenCash Blockchain to enable a first of its kind end-to-end cryptocurrency that runs on secure nodes. Miners on the newly upgraded network will receive rewards of up to 3.5 percent thus enabling sustainability on the network.

Considering the fact that ZenCash has a capped token supply of 21 million, and is treasury funded, not to mention a wallet and an advanced privacy and messaging capabilities, the collaboration between the two entities is surely set to be a game changer in the crypto space.

The partnership so far

So far, the two teams have been working on the core development of the platform and a bunch of features has already been completed. Plus, a consensus scaling protocol that will allow more transactions on ZenCash is being worked on at the moment.

Basically, the partnership is enabling ZenCash leverage on the expertise and scientific research capabilities of IOHK while on the other hand; IOHK gets to create universal solutions for cryptocurrencies apart from Cardano’s ADA.

With this partnership, not only will the age-old problem of privacy Blockchains be solved, but also the creation of efficient governing systems will be made a reality. According to Oliynykov, the IOHK research team is implementing “liquid democracy” as well as “confidentiality for voters”. Simply put, these two features alone will enable verifiable anonymous transactions on Blockchain networks.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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