Tuesday, December 7, 2021
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Zcash Celebrates Its Fifth Birthday

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On October 28, 2021, the privacy-focused cryptocurrency Zcash (ZEC) community celebrated five years since the launch of the main net.


In 2016, the Zcash launch was accompanied by high volatility. The ZEC price jumped to 2,600 BTC for 1 ZEC which was more than $1.8 million according to the exchange rate at that time.

Currently, the asset is trading at $157, increasing 3.8% over the past 24 hours. Zcash ranks 81 in the list of top 100 coins with a market cap of $1.8 billion.

In 2020, Zcash creator and CEO of the Electric Coin Company behind it, Zuko Wilcox, said that the project has achieved great success during its existence. Among the achievements, he highlighted the identification and elimination of a critical vulnerability in 2018, as well as the development of the committed community.

In honor of the 5th anniversary of Zcash shared his thoughts on Twitter.


In April 2021, Electric Coin Company announced a major Halo Arc update designed to dramatically increase Zcash scalability. The developers positioned Halo as a “trustless recursive version” of zero-knowledge proofs.

In August, Wilcox proposed ditching the Proof-of-Work consensus algorithm in favor of a more energy-efficient and greener Proof-of-Stake.

As a reminder, Electric Coin Company has entered into an agreement with Protocol Labs, Filecoin Foundation, and Ethereum Foundation, Partners will explore the use of Halo technology to improve ecosystem scalability and privacy.


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Albert Brownhttps://thecryptobasic.com/
Albert Brown is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. Holds major cryptocurrencies and has written for multiple crypto media outlets. His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.


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