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Zcash (ZEC) is a proof-of-work cryptocurrency built with a focus on privacy and anonymity. Using a form of zero-knowledge cryptography known as zk-SNARKS, Zcash is designed to provide completely anonymous transactions.
Privacy is undoubtedly an important feature for many cryptocurrency users, and Zcash offers a host of useful features for anyone who wants to stay anonymous. However, does it have what it takes to compete in the increasingly crowded world of privacy coins?
Let’s take a closer look.
Learn more What is Zcash? (ZEC)
Coin name | Zcash |
Symbol | ZEC |
Algorithm type | Equihash |
Mineable | Yes |
Launch date | 28 October 2016 |
Cryptocurrency price predictions are far from simple. Digital currencies are volatile and highly complicated, with prices influenced by a host of important factors. Before deciding whether or not you should buy any ZEC, it’s important to consider the factors that could contribute to a growth or decline in the coin’s value. Some of these factors are outlined in the table below.
Looking to the future, the upgrades and developments a currency has in store can have a big impact on its future price. For 2018, the focus is on improving Zcash’s performance, security and usability. Key milestones on the roadmap are:
If you’re considering buying ZEC, you’ll also need to consider how it stacks up against other privacy coins. These coins will all battle for market share and could potentially impact the level of demand for Zcash.
Coins to watch include:
If you’re gazing into your cryptocurrency crystal ball to try to find out what’s in store in 2019 and beyond, don’t be surprised if the future looks a little murky. Cryptocurrencies are exploding in popularity at the moment and privacy coins are a popular focus for many projects. This means that Zcash certainly won’t have any shortage of competition in the coming months, and picking a winner from the many coins available won’t be easy.
In the meantime, 2018 looks like it'll be an important year for Zcash. The first milestone will be the preparatory Overwinter upgrade in June 2018, which developers have announced as “not expected to result in a fork of the blockchain or the creation of a new currency”.
This will be followed by the Sapling upgrade, which is designed to bring important security and performance improvements. The success (or otherwise) of both upgrades could play a crucial role in determining how the price of Zcash finishes up in 2018.
So, should you buy Zcash? The answer is up to you. There’s no doubting that Zcash has some impressive features, most notably the ability to combine privacy with fungibility. Its relationship with Ethereum is an interesting one and it seems to be backed by a strong and committed development team.
However, there are plenty of other coins including varying levels of privacy and anonymity, so whether or not Zcash has the goods to compete with them remains to be seen. Do your own research to decide whether you think this digital currency has what it takes to succeed.
Images: Shutterstock
At the time of writing, the author holds IOTA and XLM.
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