ZCash Competes with Privacy Technology in Crypto Space

ZCash Competes with Privacy Technology in Crypto Space

ZCash is a revolutionary crypto product that can reshape the world. Its reward distribution has faced some serious scrutiny because there has only been a small sample.

However, the current market crisis is a reason to rekindle interest in ZCash and Monero as well.

Sydney Ifergan, crypto expert, said on his Twitter account:

“The demand for Privacy Coins like ZCash is here to stay. It is probable for a renewed interest in privacy coins to happen. People prefer privacy all the time, but during the crisis times even more!”

Privacy coins to become popular

It seems as if the privacy coins will become popular again as many governments started to use phone data to track those who are vulnerable to the Coronavirus.

The trending ideal to buy ZCash is that the data of several citizens from different countries is at risk and their governments seek to use phone data to track the virus transmission.

For example, Isreal, Iran, and China used mobile surveillance technologies per EWN to track the spread of the epidemic.

Therefore, debate about privacy may increase interest in privacy coins like the ZCash (ZEC) and Monero (XMR).

The latest rise seen by Zcash was good, and its short-term movement has rekindled investors’ interest in the cryptocurrency.  They strongly believe that the privacy may reshape the future.

Recently, the ZEC has leapt by more than 8 percent, which is considered a good sign in the current market scenario. This robust performance was driven by the fact that Zcash focuses on anonymity, and the transactions would be difficult to track.

In May 2018, Zooko Wilcox, founder and CEO of Zcash, said:

“Zcash is a new blockchain and cryptocurrency which allows private transactions (and generally private data) in a public blockchain.”

The privacy coin has dropped 12.11 percent to $29.91 over the last 24 hours. It ranks 29th with a market cap of $285.55 million.

Cryptolydian earlier reported that Aztec has launched its privacy network on Ethereum, providing what it says a cost-effective solution to keep all users’ transactions private.

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Rabea Maguid 551 Articles
Rabea Maguid is a journalist completely obsessed with crypto industry. He holds B.A. from Al-Azhar University, and has a background in journalism and economics. Rabea Maguid likes to think about the future in a positive way, and sees blockchain as a potential driver of deep societal change.