Many tend to think that Bitcoin is a totally anonymous platform, and the truth is that it does not have much of this quality. Can Zcash (ZEC) be an alternative?
The BTC payment network functions as an accounting book where all transactions are recorded permanently; the privacy of the transaction is void; on the other hand, anonymity if it is covered with the pseudonym, what would be the wallet as such; However, with the growth of Big Data, today it is much easier to find out who is behind a specific direction.
Faced with this problem, several cryptocurrencies have been born to solve it, 3 of them are very large in the current ecosystem, Monero, Dash and ZCash. The first two were created in 2014, currently Monero is the most popular among the 3.
ZCash is the newest, it was launched in October 2016; in spite of being a quite young cryptocurrency, it has been one of the ones that has caused the most enthusiasm and stir; It is not for less, it was created by a powerful team, among which the creator of Ethereum, Vitalik Buterin; he described Zcash as the company capable of offering the advantages of the blockchain without leaving aside privacy and anonymity.
Pantera Capital and Digital Currency Group, were some of the prestigious firms that supported the development of this privacy token.
Given the great enthusiasm caused by the project, it led to the ZCash price will skyrocket after its launch; A short time later, the bubble exploded spookily.
The launch of ZEC was totally ethical, and at no time with intentions of creating the volatile scenario. Only, unlike Bitcoin, this crypto did have a lot of support and observation prior to its launch; which caused a great shortage of the initial offer, and as a result an exorbitant price.
A few hours after its launch, it reached a price of over $ 1,000 per unit; managing to exceed the price of Bitcoin at that time. During the episode of extreme volatility, a ZEC cost 3,299 Bitcoin (at that time they were equivalent to more than 2 million dollars) in the famous Poloniex exchange.
Today would be more than 31 million US dollars!
What happened with ZCash
Just as it rose exponentially, it also fell loudly. By the end of 2016, it had already consolidated between $ 45 and $ 50 per unit.
Currently the ZEC cryptocurrency is still alive, trading at approximately $ 39, and recovering from a minimum of $ 26.15. Directed by Zooko Wilcox, the project continues in constant progress.