Bullish on ZCash?
Zcash aims to improve upon the Bitcoin’s original design. Bitcoin and most cryptocurrencies expose your payment history to the public. Zcash is the first open, permission-less cryptocurrency that can fully protect the privacy of transactions using zero-knowledge cryptography.
In an era were government and companies own and are able to access large amounts of information about us, human freedom and privacy is increasingly desired. Recently, we’ve witnessed how companies and governments can overreach in leveraging our personal data: Cambridge Analytica. The potential for protecting and recovering human freedom is exciting.
One unique aspect of Zcash is that it guarantees user control. Zcash utilizes two addresses, shielded and unshielded, to offer the option of anonymity to its users. Also, it provides the user to selectively disclose information about their private transactions. This allows for transparency for entities who must comply with audit obligations.
What are zk-SNARKs?
zk-SNARK stands for “Zero-Knowledge Succinct Non-Interactive Argument of Knowledge”. In laymen terms, zero-knowledge cryptography enables one to encrypt transaction metadata yet still maintain a secure ledger of balances without disclosing the parties or amounts involved. You can learn more about zk-SNARKs in the following URL.
Shielded transactions come with a relative high cost - at least for now. Generating a shielded transaction in Zcash requires significant computer power. In turn, shielded Tx’s carry a higher fee, making them impractical for day-to-day use. That said, the Zcash Company is focused on enhancing Zcash’s efficiency to reduce the amount of computing power required to shield a Tx.
What are the fundamentals behind Zcash value?
As with any other cryptocurrency, Zcash has historically experience wild fluctuations in price. Due to the infancy of the cryptocurrency market, the short-term forecast will likely be characterized by price volatility and irrational speculation-driven trading. This crux is in part derived by the lack of consensus from valuation experts regarding how to price cryptocurency.
What should you look for when determining Zcash price?
Comparable to other cryptocurrencies, a number of variables determine the price of Zcash:
- Development team’s ability to achieve performance improvements would encourage shielded transactions and drive demand for Zcash;
- Ongoing strength of Zcash’s mining network hashrate could fuels demand for the crypto;
- Adoption of Zcash-specific ASICs improves the network’s security against a 51% attack;
- Demand for Zcash as a method of payment and projects using Zcash’s technology place upward pressure on price; and
- Widespread adoption of cryptos by institutions and consumers encourage growth in cryptocurrency markets.
Given our bullish outlook on the above scenarios, we strongly believe that Zcash has huge potential for price growth.
How can you get Zcash?
You can buy Zcash on an exchange, obtain Zcash as payment for a transactions, or mine Zcash. Seeing as we’re miners by trade, we want to talk more about mining.
Zcash is the latest addition to our services as a pool operator. We are pleased to continue to provide our miners with an enhanced miner experience and to support the Zcash community. For those of you who are unfamiliar with Luxor, we are a altcoin pool built for high quality cryptocurrencies. We originally started with Sia and Decred and recently joined the BTC, Pirate, Komodo, Sia Prime, LBRY, Loki, Monero and Aion communities.
We now offer a reliable, True PPS, 1% pool. Click here to join Luxor’s Zcash pool. PPS is the most robust payout structure for miners, to learn more click here.
Happy Hashing!
