Zcash is Growing Faster Than Other Currencies And Taking Over the Digital Currency Market

With the launch of Zcash Investment Trust by a company called Grayscale Investments, the popular cryptocurrency Zcash got a big push in the digital currency market. After Bitcoin and Ethereum Trust, Zcash takes the honor of being the third currency to get this kind of support. The Trust has been formed with the objective of having shares that can clearly show the value of the coin associated with the Zcash platform, ZEC. The Trust offers easy and effective alternatives for investors wanting to invest in Zcash.

A New Entrant But With Lots of Potential

Zcash is a relatively new entrant in the cryptocurrency market but has delivered a truly consistent and impressive performance. It has gained the confidence of big corporate entities in a short time and is also being looked upon by many leading institutions as well. Of course, the general cryptocurrency enthusiasts and individuals too look upon Zcash a fantastic opportunity for investing in digital currency.

Until the entry of Zcash into the cryptocurrency marketplace, Bitcoin was the undisputed leader and a hot favorite of every investor – both corporate and individuals. Bitcoin was the first digital currency released to the public and gained a wide user base within no time. It evoked confidence despite having some gaps in its system. Many institutions picked Bitcoin as the preferred cryptocurrency for transacting on their sites.

Why It is Better Than Bitcoin

OpenBazaar is one such entity which has announced recently that they would add ZEC to their platform. This has come as a surprise to many experts because OpenBazaar was one of the biggest supporters of Bitcoin right from the time of its launch and has been using it for transactions heavily. OpenBazaar is an open platform where it is possible for anyone to list and sell products in lieu of cryptocurrencies.

However, they now admit that there are some limitations associated with Bitcoin trading. These limitations make Bitcoin unsuitable for use as a mode of payment. Zcash, on the other hand, seems to have all the features that companies are looking for in a cryptocurrency so that they can be used for transactions easily, securely and quickly.

Privacy is the key USP of Zcash and it was a feature incorporated to cover up the gap that Bitcoin carried due to lack of the same. Mathew Green, the professor from Hopkins who headed the Zerocoin protocol, was keen to bring in more privacy by using a feature that could be used on the Bitcoin network. Later, it was designed to become an independent currency which resulted in the birth of Zcash. This new coin had security and privacy as its key features.

Secure and Private Transactions Assured

The transactions made on Zcash blockchain are still open and can be easily accessed but the differentiating factor is that the sender and the recipient names remain anonymous. Also, the amount involved in the transaction is not revealed except to the parties involved. This offers users of this platform the kind of anonymity that they desire and also protects them from any potential breach of privacy. They have the option of making the transaction transparent to others but only with their permission.

Zk-Snarks

To further ensure that the Zcash platform is fully secure and private, the developers of the coin introduced the Zk-Snarks proofs. It involves the creation of proof in which the user can prove that they are holding on to specific information which they are not obliged to reveal. The intent is to make sure that all transactions are adequately guarded and secured through encryption but they can still be verified by using the algorithm system of the network.

Invest in Zcash

Zcash is touted by cryptocurrency experts as one of the topmost currencies to invest in for assured and attractive returns. The digital currency has surged ahead handsomely within a short span of time to command an impressive market capitalization which is currently hovering around $900 million. Many other currencies have taken much longer to hit that kind of market cap figures.

Zcash is presently trading at $341 which is an astounding achievement considering the fact that it has entered the market pretty late than other cryptocurrencies. Consistency is another key feature of Zcash as it has been growing at a very steady and healthy pace ever since its introduction. It seems unlikely that this growth trend will be affected or will slow down as more and more corporates and individuals are showing a keen interest in Zcash.

The currency is still young and is making smart progress every day. It is expected that Zcash will surge ahead of other popular cryptocurrencies in terms of market cap and price and that too in the near future. This is undoubtedly the best time to invest in Zcash according to experts.