Tracking some recent cryptocurrency data, we note that ZenCash (ZEN) has moved to the $17.7567 mark. The circulating supply levels are presently 4058763 with a market capitalization of 72070228. Recent volume has been seen at 1299490. Since the previous day’s settlement price, the currency has seen a change of 4.99%.
About ZenCash (ZEN):
ZenCash (Symbol: ZEN) is a brand new virtual currency forked from ZClassic which was before forked from Zcash. Similar to ZEC, ZenCash utilizes zero-knowledge proofs and its Equihash Proof of Stake (PoS) mining to provide private transactions. However, it has no founder’s reward. This founder’s payout is now deducted from mined Zcash blocks (20% of all block rewards during the first four years of mining which will up to 10% of the total Zcash supply). This is an effort of ZenCash to give equal opportunity for every miner. The crypto is a system allowing anonymous peer-to-peer communications and private economic activities with the help of utting-edge cryptography and zero-knowledge proofs. ZenCash’s distributed, and encrypted networking framework is resistant to traffic correlation and metadata analysis.
Although cryptocurrencies have been growing in popularity, it remains to be seen whether businesses will adopt them as generally accepted payments for goods and services. The element of trust may play a large role in the wide scale adoption of digital currency. Users will not only need to trust the technology behind the specific coin, but they will have to trust that other people will share the same level of trust and continue to accept the crypto as a legitimate form of payment. As more and more cryptocurrencies are introduced, consumers and investors will have to examine the underlying function. Unlike Bitcoin, there are many alternate coins that serve specialized purposes.
Cryptocurrency has been making its way into the spotlight over the last few years. Many individuals are aware of the great success that Bitcoin experienced in the last year alone. Although the price has steadily come back down, there are many people that believe the coin is headed for much greater heights. Many others coins have tried to follow in the footsteps of Bitcoin, but it remains to be seen which ones if any will achieve similar popularity. As more studies are done on the pros and cons of cryptos, investors will be paying close attention to see how the market embraces these new technologies.
Investors might be trying to figure out how to best navigate the crypto market. With so much uncertainty and volatility, it may be extremely hard to figure out the proper play. The rise of Bitcoin has helped thrust cryptocurrency into the limelight. Although there are plenty of widespread opinions about the future of digital currency, it may be difficult to come to a definite conclusion with the current state of the market. As more information becomes available and research is conducted, the crypto market may become a little more demystified in the near future.