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Binance to list ZenCash [ZEN] on its platform

Sarah Rodrigues

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Binance to list ZenCash [ZEN] on it's platform
Source: Public Domain Pictures

Binance is a cryptocurrency exchange platform, paving way for all investors and traders in the cryptocurrency world. It was initiated in 2014. It has been known to carry lesser fees with secured transactions, similar to other crypt-exchanges. It is one of the top crypto-exchange platforms in the cryptocurrency market.

On 5:30 AM UTC, Binance announced that Zencash will be listed on the exchange platform. It will be open for trading for ZEN/BNB, ZEN/BTC, and ZEN/ETH on 23/05/2018. The investors can start depositing ZEN while in preparation for trading.

ZenCash [ZEN] is a privacy currency that is powered by zk-SNARKS. It creates an entire industry on standards of radical transparency and accountability. The technology is based on completes transactions that are untraceable without leaking any of the metadata. Only the proof of transaction is shown on the ledger. zk-SNARKS is the leading privacy protocol in the world of cryptocurrency.

ZenCash [ZEN] is ranked 85th position in the cryptocurrency market. Trading at $49.34 with a market capital value of over $194 million, this emerging cryptocurrency has soared up to 44.01% in the last 24 hours and increased to 8.22% in the past hour at the time of writing.

HeatSeeker, a Twitter user commented:

“WTF people. Really? USD is useless fiat. Soo lets back it with that. Institutional money is here to take yours… The white shoe boys want in alright! Damn buy some #dogecoin buy some #Litecoin shit buy some #bitcoin but don’t get on this train to hell.”

1cyborgatrom, another Twitter user commented:

“That is awesome!!!!!! That is going to be huge for more institutional money to feel safer investing! 🍻 To the best Exchange in the world!”

24-Hour Graph Value.

24-Hour Graph Value.

Since this is a growing cryptocurrency, there is much speculation for it to reach the top 20 cryptocurrencies. It has a circulating supply of 3,900,975 with a volume of $20,826,600 as per CoinMarketCap.





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Sarah Rodrigues is an intern at AMBCrypto. She is pursuing her English lit, Psychology and Journalism at St. Joseph's College. She researches extensively and writes about Cryptocurrency and Artificial Intelligence. Sarah currently does not hold any value in cryptocurrency.

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Ampleforth could help create next-gen synthetic commodities for portfolio diversification, claims Blockfyre report

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Ampleforth could help create next gen synthetic commodities for diversification of portfolios claims new Blockfyre report
Source: Unsplash

Ampleforth was the first token to successfully complete an IEO on Bitfinex. This IEO caught the attention of a lot of users in the cryptospace, as the $5 million hard cap was sold out within the first 11 seconds. A new report by Blockfyre details how Ampleforth could pave the way for a new asset class for portfolio diversification in the future.

The report also highlighted a feature of Ampleforth that allows a flexible supply that adjusts to the market demand, while price simultaneously finds equilibrium. The token also aims to tackle the strong correlation that most cryptocurrencies share with Bitcoin.

Synthetic Commodity

Ampleforth project has the ability to create synthetic commodities that are disconnected when it comes to price fluctuations due to correlations, which is a common problem faced by both cryptocurrencies and traditional asset classes. Although Bitcoin was created to tackle problems that fiat currency inherently has, it still has some correlation issues.

In a world where traditional assets are widely affected by macroeconomic and global political scenarios, Ampleforth aims to create a new asset class, Synthetic Commodity, to tackle this problem.

The report stated,

“BTC as a synthetic commodity doesn’t show correlation to traditional markets such as stock stocks and bonds. Thus it reflects a potential good investment for portfolio diversification, in order to tackle macro-economic recession”

Although BTC is an uncorrelated asset, other cryptocurrencies are widely correlated to it. Ampleforth’s protocol introduces synthetic assets that “will always find a price-supply equilibrium by adjusting the price due to demand.” The report added,

“It needs to be emphasized, that these price-supply information will always be distributed amongst all token holders, so the supply of all token holders will decrease / increase. As a result, the overall cut of the total supply for each person will always remains the same.”

The report further said that if successful, Ampleforth will directly compete with Bitcoin’s $145 billion market cap and also against traditional asset market-based in fiat.





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