Connect with us

Altcoins

Zcash [ZEC] with a 50% jump is still the biggest gainer this past week – Gemini Effect?

Avatar

Published

on

Zcash the highest gainer at 50%
Source: Pexels

Five days ago, on the 14th of May, Zcash [ZEC] was trading at $245 to a token but with rumors of ZEC getting listed on Gemini, the exchange owned by Winklevoss twins, prices started climbing up and hit a monthly high at $385 on the 15th of May.

Zcash, at press time, was trading at $360 to a token with a market cap of $1.4 billion ranking on the 20th spot on coinmarketcap just shy away from overtaking Bytecoin which had a dream run recently after the Binance listing.

Zcash's ascension

Zcash’s ascension

Zcash’s core philosophy is privacy and uses something called zero-knowledge cryptography because of which unlike Bitcoin and a lot of other cryptocurrencies your transactions won’t be open and historically trackable.

The deposits on the Gemini exchange started today, May 19th at 09:30 am EDT, trading as per the recent update from Eric Winer would go live on May 22nd, 09:30 am EDT. Gemini will support both the shielded and unshielded addresses.

The recent approval makes Gemini the first licensed Zcash exchange in the world. According to the latest post by London Block Exchange [LBX], they said,

“……other reputable exchanges may consider listing it in the future too.”

A look at the recent charts reveals the entire week has been bleeding red for most cryptocurrencies with Bitcoin Cash [BCH] taking a hit at -15% but the biggest hit taken by Zilliqa [ZIL] at -19% which recently got listed in an Indian cryptocurrency exchange, Unocoin.



In a recent comparison and debate on reddit on which among Monero and Zcash has a better privacy standard, a reddit user, WalterMagnum says,

“Monero doesn’t compare to ZCash in terms of privacy. Monery uses obfuscation to mask transactions. There is nothing guaranteeing that your information will remain private. At any time, someone could develop a method to obtain Monero transaction information (it has already been done once but was “fixed”.) ZCash on the other hand is provably anonymous. You can go through the proofs yourself and be rest assured that there is absolutely 0% chance that someone can develop a method to reveal transaction info. That is the beauty of mathematically provable anonymity.”

Another reddit user, acoen01 said,

“Zcash is a for-profit company with its cryptography peer reviewed by JPMorgan. Their inception past $4,000/coin clearly was incorrect and seemed very shady/panned. It seems as if Zcash’s coin structure and fee setup is created beneficial to the company’s profit agenda…”





Subscribe to AMBCrypto’s Newsletter




Follow us on Telegram | Twitter | Facebook



Andrea Pierre Jackson is a contributing News writer at AMBCrypto from December 2017. She has previous writing experience with major publishing houses in the UK and the US. Andrea currently does not hold any position in any cryptocurrency or its projects

Bitcoin

John McAfee says he will reveal Nakamoto’s identity, Coinbase expands to 11 countries, and more

Priya

Published

on

By

John McAfee says he will reveal Nakamoto's identity, Coinbase expands to 11 countries, and more
Source: Unsplash

Daily Crypto News – April 18

1. John McAfee on Satoshi Nakamoto: The Founder of McAfee Associates stated that he would narrow down on the identity of Satoshi Nakamoto until he reveals Satoshi himself, otherwise he would reveal his identity to the crypto community. He also spoke about how he knows about Satoshi, to read about it, click here!

2. Coinbase expands its services to more countries: The leading exchange platform announced that it expanding its services to 11 more countries, which includes India, South Korea, and New Zealand. People in these countries can avail services provided on Coinbase.com, Coinbase Pro and its app on iOS and Android.

To know more about the countries Coinbase has expanded to, click here!

3. Craig Wright says the crypto-community want to silence him: Craig Wright, the self-proclaimed Satoshi Nakamoto, stated that the majority of the community was against him as they “desire to silence” him because they see someone who would bring an end to scams and pumps and dumps.

He also spoke about the next steps he would be taking in terms of the legal action concerning his defamation case. To read about it, click here!



4. Binance “marks the birth of a new genesis block”: The largest cryptocurrency exchange in terms of trade volume announced the launch of its Decentralized Exchange, and also stated that the mainnet swap would take place on 23 April 2019.

To read more about Binance DEX, click here!





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending