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All you need to know about Zcash

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Zcash explained

All you need to know about Zcash

You must have heard of Tyler and Cameron Winklevoss in the whole Facebook lawsuit with Mark Zuckerberg. After having received a settlement for damages, Tyler and Cameron Winklevoss went their separate ways from Mark, looked into the digital currency space and started their own cryptocurrency exchange named Gemini. Their venture has brought forth the birth of a new and revolutionary Bitcoin competitor called Zcash. Aimed at providing even more higher levels of security at a lesser price, Zcash hit the live trading floors and went active on cryptocurrency exchanges on May 22.

Having had such major names backing it, Zcash has quickly gained popularity and is being looked into more and more by numerous investors and traders all across the world. However, with every new things, many clarifications are required so that everyone is on the same page and likewise, here is a little guide to help you know almost everything there is about Zcash.

 

What is Zcash?

Created by the developer Zooko Wilcox in October 2016, he created Zcash to tackle the feature of Bitcoins where everyone can see all sorts of transactions going on. He was not that big a fan of this privacy breach and wanted to bring into the market something that could do away with this. Likewise, he came forth with the idea of Zcash and developed it using the blockchain technology to carry out end to end or peer to peer transactions completely and wholly anonymously. Zcash is basically a hard fork of the original solution of the Blockchain technology – Bitcoins, and along with being a revolution in the sense of providing private and highly secure transactions which no one can witness other than the two parties involved, Zcash also has the ability to carry out these transactions way faster than Bitcoins or any other digital currencies.

Previously known by the name Zerocoin, it is now called Zcash and has the symbol ‘ZEC’, an interesting feature of Zcash is that its quantity is limited or finite, just like Bitcoins, and amazingly, just like Bitcoins, only 21 million of them are available to be mined. Moreover, with the popularity it currently has and the expected exponential growth of this currency, experts have predicted that the entirety of 21 million Zcash would be completely mined by the year 2032.

 

The zk – SNARK Protocol

Zcash uses a phenomenal cryptographic tool or protocol called the zk – SNARK protocol, which gives its users the option to go anonymous over the network. Since Zcash by default supports similar functioning as Bitcoins, if one wishes to not have the Bitcoin like transparent transaction functionality, they can choose to go for this option. Enabling this zero knowledge proof protocol hides the information of the sender and the receiver and also hides the amount of currency being exchanged.

The zk – SNARK protocol comes with high credibility since it was developed by an esteemed team of developers and coders from several prestigious universities including Johns Hopkins University, Massachusetts Institute of Technology (MIT), Technion – Israel Institute of Technology, and Tel Aviv University in the year 2014.

Thus making use of this zero knowledge proof protocol, users of Zcash are given the option or choice to makes transactions privately or publicly.

 

Using Zcash

The objective that drives the Zcash team is to be able to help its users make private and anonymous transactions while also making sure that nobody is cheating. They also aim to someday become a mainstream fiat currency or a global level means of legal payments and are working hard towards that dream.

A new block on the Zcash blockchain is identified in under 2.5 minutes which is 25 times faster than the time the Bitcoin blockchain takes to identify a new block which is about 10 minutes. This makes it a very quick and fast option to choose to send and receive money because let’s face it, who really likes to wait for so long?

Everyone is aware of the transaction costs on the Bitcoin platform going up and up everyday, however, transactions and processing on Zcash takes almost next to nothing and you would not feel the pinch of paying an extra amount which is so little. Moreover, ASIC like heavy machinery is not required to mine Zcash and so virtually anyone with a GPU or CPU can easily mine Zcash without much hurdles.

 

Final thoughts on Zcash

Although it is not wise to make quick decisions about anything, several Zcash enthusiasts say that Zcash could in fact, in a couple years, become a legal form of payment. Moreover, with huge multinational companies like JP Morgan forming a partnership with the Zcash developers to themselves incorporate it in their systems make it a very credible venture which helps more and more people to trust it. Although this open source decentralized venture actually has a company backing it, people are concerned about the criminal activities that might take place on this platform. Only time will tell how things roll out for Zcash in the future.

#Bitcoin

XRP is now #2 Cryptocurrency, Ripple overtook Ethereum

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XRP is now officially the #2 cryptocurrency in the world with over $2.4 Billion Market Cap. The recent increase in the market cap was due to the rapid surge in Ripple Price after the XRapid Launch news was published.

The market cap of Ripple is now $23555443, which just surpassed Ethereum’s market cap of $23367070

Bitcoin Market cap stands at #1 at $116228274

 

Ripple Price Rise

XRP  Price broke all the obstacles and went to a swift uptrend against both Bitcoin and US Dollar. With the surging price, the total market cap of the cryptocurrency also noticed an enormous hype making Ripple the #2 Cryptocurrency after Bitcoin; beating Ethereum on the Cryptocurrency Market Capitalization list. More and more banks are utilizing the Xcurrent platform including the recent adoption by PNC , USA’s top financial services group.

 

Ethereum Price Decay

The former #2 cryptocurrency Ethereum noticed a vast decay in the previous few weeks with the reasons starting from large OTC selling by ICO’s (Initial Coin Offerings) and the ethereum miners backing out saying that ‘Ethereum Mining is no more profitable’. Ethereum price dropped down from whooping $450 in August to $190 a few days back. This has resulted to a huge number of prominent investors and traders opting out of the Etheruem Cryptocurrency stating that Ethereum has no future now.

 

Can Ripple Maintain the #2 position now or will Ethereum take back revenge? What are your thoughts on the same? Tell us in the comments section below.

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#Tron Price Analysis

10 reasons why TRON TRX price can increase massively this year

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One of the biggest reason for Tron’s (TRX) massive increase in price is its continued growth with its fundamental strength. TRON price will increase.

What is TRON?

TRON is a decentralized platform based on Blockchain and aims to build a digital content sharing platform eventually leveraging peer to peer (p2p) blockchain system. TRON first founded by a non-profit Singapore based foundation, and this foundation is specifically seeking to distribute the global entertainment industry.

Presently, lots of user data and traffic managed by a few corporations like Google, Amazon, and Facebook & Snapchat. TRON creates some serious steps to control by placing ownership of the data back into the creator’s hands.

 

Features of TRON

There are some key features of TRON, given below

  • TRON wants to heal the Internet with its entertainment features.
  • Data liberation; free and uncontrolled data.
  • Content-enabled ecosystem, where users can obtain digital assets from content spreading.
  • Personal ICO with the ability to distribute digital assets.
  • Different infrastructure which allows distributing digital assets exchange (such as games) and marketing forecasting.

 

Advantages of TRON

TRON has the biggest advantage, is its good team of developers, advisers, and investors. It’s CEO is Justin Sun, who is the protégé of Jack Ma, the founder of the Alibaba group and other advantages the fact about data creators, which are the data ownership of central and also the users on the Tron network are entitled to proportional profits granted by rules. Tron has an idea to administrate free service platforms for the public. That’s why it is operated and designed to serve the masses that enjoy entertainment content around the world.

 

Reasons for the massive increase in the price of TRON

If you are having feelings like the heat just because of the price of TRON. Well, don’t be.  This is a right time to get yourself a bit rich with the massive increase in the price of Tron. That is because what is happening now in the market is that wide crash that has seen previously in all cryptos shed a good portion of their value, with bitcoin dropping below $7700. While everything else has risen again, Tron (TRX) is in an incredibly good position with its risen up again by even bigger margins.

 

Here are the reasons why TRX price could rise:

The Mainnet Launch

In the previous scenario, just a few months ago Tron was in deep fall and it was migrating from the Ethereum blockchain to its own blockchain. But besides all this, several major exchanges have announced to support for the Tron migration, indicating that this event will be a major success as it is a strong enough reason to get into Tron at today’s prices, which reap big once the main net goes live.

 

Tron’s Drawing more in developers

In the Tron (TRX) case, its success completely depends on the team which has been pushing hard to woo Ethereum developers to the project. Tron team has used airdrops and other rewards to achieve this end. Giving them those incentives are worthwhile and one can expect the faster completion of project milestones, which will serve to further drive up the price.

  • One of the biggest reason for Tron’s (TRX) massive increase in price is its continued growth with its fundamental strength.
  • The other important reason for the massive growth is because it led by an aggressive and ambitious leader. Justin Sun, the CEO of Tron, has not only overseen the fast-tracking of milestone deadlines, but he has also decided that he wants Tron to be a top 6 coin in crypto ranking.
  • It had been hovering in this position for the last few months, until a few deep altcoin drops of the last few weeks. TRON’s peak coin price will be again high as eight cents just in a short duration.
  • From the beginning and the new holders who recently have joined, It sees a movement of about $200 million each day, give or take, and this spread across the major trading coin out there.
  • According to the price predicting; fiat trading is still extremely unrepresented here. That means is going to have an enormous opportunity to crack more fiat selling with a massive increase in prices and growth parallel.
  • Tron’s strong & steady strength which makes it continuously moving and this is also the reason for a massive increase in the price of Tron.

 

Note: This article represents only the opinion of the writer. The article is not, in any way, an investment advise. All cryptocurrency investments are risky and you should do your own research and analysis before buying or selling any digital assets including TRX.

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#NEO

Is NEO Dead? Does it have a future?

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NEO has a 100% pre-mine as well as proof of stake model which allows users to derive additional coins in the form of GAS, by holding them in the wallet.

What is NEO?

NEO is a blockchain platform and cryptocurrency designed to build and scalable network of decentralized applications. The base asset of the NEO blockchain is non-divisible NEO token which generates GAS tokens it can be used to pay for transaction fees generated by applications on the network.

 

NEO is often called Ethereum of China

The reason behind is NEO is positioned as a “public cloud” and it’s a part of a bigger strategy by the Chinese government in establishing of pre-eminence as a Blockchain platform industry leader. They want developers should use their tools and platform and develop the ecosystem.

 

Features of NEO

Delegated Byzantine Fault Tolerance (DBFT) algorithm

This is a consensus mechanism (instead of the traditional proof of work/stake) that allows the system to resist and maintains consensus even if some nodes bare malicious intentions.

 

NeoX

This system is to create the ability and to execute and operate across various blockchain.

 

NEO Contract

It is for creating the mechanism with smart contracts seamlessly in scalable, high-performance environments and that integrates pre-existing codebases.

 

NeoFS

This is a service which allows decentralized storage (like peer-to-peer Dropbox).

 

NeoQ

A matrix-based cryptographic mechanism, which create problems and  that cannot be solved by quantum computers to ensuring being quantum proof.

 

Reasons why NEO has no future:

1. NEO has a 100% pre-mine as well as proof of stake model which allows users to derive additional coins in the form of GAS, by holding them in the wallet.

2. NEO distributed coins through a crowdfunding event which allowed people to invest but NEO still made money from the sale and this is not the right thing to do.

3. NEO is divided into two batches of 50-50 million and somewhere somehow it is going to affect its future in the crypto market.

4. NEOs fund releasing is in multiple forms and this cause market dumping with some of it affects price & morality.

5. It has seen NEO attract criticism from those who consider it not to be a true cryptocurrency as its lack of decentralization.

6. NEO was built on the very badly written code exposing the network to major vulnerabilities and that its consensus mechanism was not properly implemented.

7. There is a bug ‘deep in NEO’s peer-to-peer protocol.

8. Every blockchain has its technical problem to solve, and there is no reason why NEO can’t overcome its teething troubles and alleviate over-centralization concerns given time.

9. Communication is one of the strong points for any team, but in NEO, it muddles on silence, the dissenting voices are getting louder.

10. The other major issue affecting NEO is its main use, in present springboard for ICOs. These type of projects need to prove themselves by adding some real values and more usability for NEO ecosystem.

 

The article represents the opinion of the author and is not an investment advise. You are required to do your own research and analysis before taking any decision.

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