The uncertainty as to whether the privacy aspect of Zcash (ZEC) was an advantage or disadvantage has been forever extinguished with the developments of the last day with respect to the coin. The first of these developments being that the Gemini exchange, that is co-founded by the Winklevoss twins, is now the first licensed Zcash Exchange. The exchange revealed yesterday, that it will open Zcash trading on the platform and pair ZEC against the US Dollar (USD), Bitcoin (BTC) and Ethereum (ETH).
According to Tyler Winklevoss, CEO of Gemini, Zcash picked up on where Bitcoin left off in terms of providing the added privacy much needed on the blockchain ledger.
Also to add is that Gemini is now regulated by the New York State Department of Financial Services (NYDFS). The organization is considered as being one of the most strict in the US cryptocurrency industry. This, in turn, made the Gemini exchange to meticulously carry out due diligence before listing Zcash trading on the platform.
ZEC trading will officially begin today at 9.30 Eastern American Time with deposits being available from Saturday, May 19th.
The above announcement then led Zcash (ZEC) on a rally that has led the coin to increase in value by 45% in 24 hours. ZEC is currently priced at $357 and looks like it will be a matter of time before it regains a spot at the top ten according to coinmarketcap.com. ZEC is currently ranked 23rd in terms of market capitalization and has been the subject of uncertainty, as earlier mentioned, due to the privacy aspect that is a topic of contention amongst financial regulators and lawmakers. They argue that 100% privacy can be misused by rogue individuals who want to commit fraud, money laundering or even other unspeakable crimes.
This concern seems to have been cleared with the ZEC listing on Gemini.
ZCash has also been the coin of noteworthy mentioning by crusaders of privacy and reduced government surveillance. Edward Snowden is one such individual. Snowden has been quoted as saying that Zcash is the only altcoin he knows, for now, that is designed and built by professional and academic cryptographers.
What might happen moving forward, is that ZEC will reclaim its glory amongst the top 10 coins and even maybe reach the much anticipated $1,000 value depending on the daily trade volume that Gemini creates.
For the latest cryptocurrency news, join our Telegram!
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.
Image courtesy of beamaed via Flickr
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful trading…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…