In June 2018, ZCash went through a hard fork. As a result, the cryptocurrency had already increased by a significant amount. In the anticipation of the hard fork, it is going to rise even further.
What exactly is ZCash?
In simple terminology, if you consider Bitcoin to be HTTP, ZCash is HTTPS. This clearly indicates that ZCash is an extra layer for privacy. This also makes it much more secure. Moreover, it makes it difficult for the hackers or for anyone else to know about the origin of the transaction. There is 0 knowledge proof involved in ZCash. As a result, it is not easy to find the origin of the transaction or the parties which are involved in the transaction.
People are starting to realize that Bitcoin does not provide privacy. ZCash is one such cryptocurrency which actually provides such privacy. It is undergoing a friendly fork in order to develop the network. Many people are also skeptical about ZCash. The thing that the authorities will not allow ZCash to become mainstream is due to the privacy which it provides. This is the reason why the market cap of ZCash is on the lower side.
When you look at the market cap of ZCash in the valuation, it is the 22nd largest cryptocurrency. However, in the last one month, it has gained almost 40%. Many people believe that it can rise even further in the future. That is why they are thinking about investing in ZCash at the present level as well.
ZCash Price Today
ZCash hard fork-overwinter:
Overwinter is the name of the ZCash hard fork which is coming by. It will be a network upgrade for the cryptocurrency. The entire network will have a period of 90 days in order to update the software after the launch of the fork. Also, it is up to the users to find out whether the cryptocurrency exchange in which they are holding ZCash will support the new protocol or not. However, this will not be a hard fork.
Owing to the recent developments, the popularity of ZCash is also increasing. It remains to be seen how it appears after the hard fork.
Zcash (ZEC) Price Analysis
Zcash was announced for support months back when the Coinbase exchange announced a major change in their policy which included the proactive listing of digital currencies.
The main goal of the modified policy is to add more assets that turn out to be compliant with the Digital Asset Framework used for supporting listings on the exchange that Coinbase represents.
ZEC was officially announced for a Coinbase listing in the middle of the dipping market during the first week of December 2018, and even though holders were expecting to see at least a minor positive change in the price of ZEC, the crypto missed on scoring a positive return.
Zcash is dropping heavily with the rest of the market; however, it still manages to keep its rank above the list of top 20 due to the fact that the entire market appears to be collapsing.