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ZCash (ZEC) Journey in May 2018

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ZCash (ZEC) has been observing an upward trend recently even when the price of Bitcoin (BTC) had fallen due to the raid of Upbit, a South Korean cryptocurrency exchange. At the time of writing, according to coinmarketcap.com, the price of ZEC shows $361.07 USD (3.74%) approximately. The market cap shows nearly $1,420,442,610 USD while volume (24h) is over $265,000,000 USD. (As of 17th May 2018) Currently, as per coinmarketcap.com, ZCash holds onto the 22nd position. There are quite a number of reasons for the price surge of ZCash (ZEC).

Gemini Thumbs Up

Tyler and Cameron Winklevoss, the co-founders of Gemini, the US-based cryptocurrency exchange had recently announced that ZCash will also be included in their list. As Gemini has received approval from the New York Department of Financial Services (NYDFS), it became the first cryptocurrency exchange with a license to trade ZCash. After this announcement, the price of ZCash (ZEC) had surged significantly and the market cap had reached approx. $1.5 billion. The users can start trading ZCash from 22nd May 2018 at 9:30 a.m. ET.

The focus for the Gemini team is on co-existence of Bitcoin and ZCash on the platform. One reason for adding ZCash as Tyler Winklevoss says, “Zcash picks up where Bitcoin left off.” …“Bitcoin has many strengths, but privacy is not one of them.” Privacy protection features of ZCash are another reason for the Winklevoss brothers to choose the crypto coin. In the beginning, the traders can choose three pairs of ZCash—ZEC/USD, ZEC/BTC, and ZEC/ETH.

ZCash uses both shielded addresses (z-address) and unshielded addresses (t-address). At first, Gemini will allow the users to make deposits from both but, in the case of withdrawals, it can be done through t-addresses only. They also plan to make shielded addresses to support withdrawals.

ASIC Mining

ZCash allowing ASIC mining can take ZEC to new heights and even has the power to decrease the weight of this cryptocurrency. This is because there are many who had predicted that ZCash will follow the direction of Monero and would choose a lower hashrate. But, the effect of ASIC mining did not go this way. Rather, the price action of ZCash (ZEC) had shown an uptrend. Even as the projects of the ZCash network had been criticised by the Monero community, the rest of the cryptocurrency world including Vitalik Buterin and Saleem Rashid (hardware wallet expert) had praised ZCash’s moves. From the official announcement of ZCash, “In the short term, we consider it critical to protect the community members who are building the ecosystem with us. If it’s necessary based on our evaluation of the ASICs on the network, we will hire a developer to construct and submit a ZIP to mitigate its effect on the network. If the Zcash core development team and community approves, it will ideally be deployed by late 2018.”

Even as these discussions within the ZCash community had caused a little slide in the market, the crypto coin did not see a drastic fall. Its appeal lies in solid technology and this may be one of the reasons for the improvement in price action.

Vitalik Buterin Support

A plus point for ZCash is that Vitalik Buterin had supported the cryptocurrency during the arguments regarding its centralized nature. Vitalik Buterin had argued over Twitter that if a person was looking for a ‘high-privacy-demanding use case’ then decentralization would be a ‘luxury’ to him. It is sufficient to have ‘right cryptography’ centralized systems for transactions. He continues to say, “ZCash’s confidentiality guarantees are stronger than its survival guarantees.”

StarkWare Partnership

The developers had recently revealed that they will partner up with StarkWare Industries. STARK technology from StarkWare Industries is expected to increase the privacy features and scalability of the ZCash network.

Eli Ben-Sasson and Alessandro Chiesa, the founders of StarkWare Industries were also a part of the ZCash development team. They will again join ZCash but as consultants and partners with the objective of implementing STARK technology that will enhance privacy and scalability. Currently, the zero-knowledge proof system (ZK) in the form of the zk-SNARK Protocol is utilized for preserving the anonymity of the users. StarkWare with its STARK technology is expected to bring in a new angle to anonymity. It is also to be noted that StarkWare Industries had accumulated $6 million investments in its seed round of financing from Bitmain, Pantera Capital as well as Vitalik Buterin (creator of Ethereum) and Fred Ersam (co-founder of Coinbase).

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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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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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