Zcash

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Ethereum Cofounder Vitalik Buterin feels that other blockchains, such as Dogecoin and Zcash should be following the same strategy now that the Ethereum merge has been completed.
Ryan Selkis asked Buterin at the 2022 Messari Mainnet if all networks should shift to proof-of-stake (PoS) method. Buterin responded affirmatively. Zooko Wilcox-O’Hearn, the founder of Zcash, was also in attendance.
Vitalik stated via video chat on Friday at the Messari conference, “I anticipate that as proof of stake evolves, its credibility will only grow over time.”
This is not the first time Buterin has urged Zcash to transition to PoS. He suggested the same idea in 2018, to which Zooko responded that he was waiting for Ethereum to do it first so that he could observe how the transition went along.
Ethereum Merge Event Went Smoothly
Ethereum moved to PoS on September 15, following the Merge event. Buterin stated that the high-stakes event went off without a hitch, despite every test network merge encountering “some form of issue.”
Buterin identified scalability as the most critical challenge for the next 18 months, adding that the ecosystem must “deliver on” this.
The Merge has made it feasible to drastically minimize the environmental impact of the blockchain. Dogecoin surpassed Bitcoin as the second-largest proof-of-work (PoW) cryptocurrency.

Image: MIT Technology Review


“I hope that Zcash will migrate. I am also optimistic that Dogecoin will transition to proof of stake in the near future,” the 28-year-old Buterin added.
Proof-of-stake reduces the computing effort required to validate blocks and transactions.
Under proof-of-work, it safeguarded blockchain. Proof-of-stake modifies the way blocks are validated using the computers of currency owners, so less computing labor is required.
The owners stake their currencies in exchange for the opportunity to validate blocks and become validators.

Selkis: Should all networks move to PoS?
“I’d say should … as PoS matures I would expect it to increase in legitimacy over time. I hope @zcash moves over and I am hopeful @dogecoin moves to PoS soon,” — VB#mainnet2022
— Messari (@MessariCrypto) September 23, 2022

Proof-Of-Stake: 99% Decrease In Energy Consumption
According to the Ethereum Foundation, the switch from proof-of-work to proof-of-stake led to a 99.9% decrease in energy usage, which is anticipated to greatly slash the blockchain’s carbon footprint.
Buterin, the Canadian programmer, also discussed Ethereum’s future after the Merge. He said  the Surge, Ethereum’s next major update, will not be comparable to the Merge. It will be carried out in stages as opposed to one big transition.
In accordance with Buterin’s predictions, the developers behind Dogecoin and Zcash have separately shown interest in migrating to PoS.
According to CoinGecko data, Dogecoin and Zcash are two of the top 10 cryptocurrencies by market capitalization that utilize the proof-of-work algorithm.


DOGE total market cap at $8.39 billion on the weekly chart | Source: TradingView.com

Featured image from Liquid Blog, chart from TradingView.com


Ethereum Cofounder Vitalik Buterin feels that other blockchains, such as Dogecoin and Zcash should be following the same strategy now that the Ethereum merge has been completed. Ryan Selkis asked Buterin at the 2022 Messari Mainnet if all networks should shift to proof-of-stake (PoS) method. Bute...

bitcoinist.com

Ethereum Co-founder Vitalik Buterin Expects Dogecoin, Zcash To Switch To PoS

The co-founder of Ethereum suggested that two other PoW blockchain protocols could transition to PoS in the near future.
He also spoke about the Merge during the 2022 Mainnet blockchain event and gave a brief update about the next step in Ethereum’s development – the Surge.

Ethereum made history on September 15, when it became the first large-scale blockchain protocol that successfully transitioned from proof of work to proof of stake.
The ramifications of this significant change are yet to be seen in terms of network security, scalability, and usage, although the Ethereum Foundation claims that the energy consumption has declined by 99.9%.
When asked at the Mainnet event if all PoW networks should follow Ethereum’s example, Vitalik Buterin responded in an affirmative fashion. In fact, he believes two current PoW-based cryptocurrencies – Dogecoin and Zcash – could be the next.


Selkis: Should all networks move to PoS?
“I’d say should … as PoS matures I would expect it to increase in legitimacy over time. I hope @zcash moves over and I am hopeful @dogecoin moves to PoS soon,” — VB#mainnet2022
— Messari (@MessariCrypto) September 23, 2022


Interestingly, developers of both Dogecoin and Zcash have dabbled with the idea of transitioning to PoS, with the latter reviewing the possible pros and cons in a mid-2022 post.
Just ahead of the Merge, Buterin outlined the next part of Ethereum’s roadmap – the Surge. Now, he said it will not be a single event like the Merge as it “will take place in stages.”
So far, the Merge has turned out to be a sell-the-news event for Ethereum’s native token, as its price dumped from over $1,600 to under $1,400 in just over a week.

The post Vitalik Buterin Names the Two Cryptocurrencies He Wants to See Move to PoS appeared first on CryptoPotato.

Dogecoin and Zcash could follow Ethereum's example, asserted Vitalik Buterin.


cryptopotato.com

Vitalik Buterin Names the Two Cryptocurrencies He Wants to See Move to PoS

Zcash (ZEC) was treading a bearish route along with other altcoins, having shaved off as much as 14% in the past few days.

Zcash loses 14% last week but opens up an increased buying opportunity
Awesome Oscillators looks bullish
ZEC’s RSI at 42

On-chain metrics have shown a glimpse of a buying opportunity with a hint of a downtrend. Now, will the bulls pull it off and haul the price back to $66?
Zcash Fibonacci retracement levels have hovered up from $55 to $92.6, showing an 83.4% retracement level, which is close to the key support zone of $58. In June, the $55 to $58 zone emerged to be a bullish lane.

OBV Hints Increased Buying Volume
More so, the OBV is also seen to rise since July hinting at a more stable buying volume which is recognizably stronger compared to the selling pressure.
On the flip side, frequent retests of the support level seem to have weakened it. If the ZEC price dips below $58, then the coin could further slip to $55 and $52, triggering a new buying opportunity.
Still, the momentum is geared towards the sellers with the RSI unable to offshoot the 50 zones and stay above that level.
On a 2-hour chart, Zcash appears to have dampened its strength and has weakened as seen in the past couple of weeks. The $67.3 area was bearish as seen since August. More so, the same area has been retested twice.
At this point, the AO reveals a bullish divergence. So, as the price thrusts into the support zone, the momentum is perceived to switch.
ZEC’s price is currently heading above the consolidation period while enjoying the uptrend.
ZEC’s Price Spikes By 1.86%
According to CoinMarketCap, ZEC’s price has surged by 1.86% or trading at $58.25 as of press time. The total market capitalization slumped by 4.62%. More so, trading volume has dipped by 39. 53%, which shows that the buyers are trying to grow their ZEC holdings.
On the daily price chart, ZEC is seen to spike in price as it hovers near the upper trendline. In order to breach the support line, bulls must consolidate at ZEC. 
On the other hand, bears can try to deter the coin’s uptick at any time with the constricted rate of accumulation.
If the bulls want to go in full force and avoid any deterrence from the bears, then they must accumulate.
Based on the daily chart, ZEC’s price is trying to maintain its momentum during the consolidation period. Technical indicators show the increased speed of ZEC’s upward trend.
ZEC’s RSI is currently 42 which is below neutral. The MACD seems to intersect with the signal lines which could signify changes in trends.

 
Crypto total market cap at $938 billion on the daily chart | Source: TradingView.com

Featured image from Tino Group, Chart: TradingView.com
(The analysis represents the author's personal views and should not be construed as investment advice).


Zcash (ZEC) was treading a bearish route along with other altcoins, having shaved off as much as 14% in the past few days. Zcash loses 14% last week but opens up an increased buying opportunity Awesome Oscillators looks bullish ZEC’s RSI at 42 On-chain metrics have shown a glimpse of a buying opp...

newsbtc.com

Zcash Sheds 14% Last Week, But Analysis Reveals Buying Opportunity

The privacy coins monero and zcash managed to see fewer percentage losses against the U.S. dollar this week, in contrast to crypto assets like bitcoin, ethereum, and solana. Seven-day statistics indicate zcash has lost 5.6% against the USD, while monero dropped by 6.1%.
Privacy Coins Manage to Stave off Some of This Week’s Market Carnage, but Are Still Down 62% Lower Than 9 Months Ago
At the time of writing, the entire market capitalization of all the privacy coins in existence is roughly $5.55 billion. Monero (XMR) leads the pack with a market valuation of around $2.64 billion or 47.5% of the entire privacy coin economy. Zcash (ZEC) is the second largest privacy coin in terms of market capitalization as ZEC’s overall market valuation today is $789 million.

Behind XMR and ZEC, are privacy tokens such as decred (DCR), nucypher (NU), secret (SCRT), horizen (ZEN), ergo (ERG), digibyte (DGB), and beldex (BDX), respectively. Top privacy coin double-digit gainers this week include deeponion (ONION), litecash (CASH), pivx (PIVX), and masari (MSR). The week’s top privacy coin losers in terms of percentage losses include tokens like zclassic (ZCL), lethean (LTHN), and phore (PHR).

The top five privacy coin crypto assets make up most of the $5.55 billion in privacy coin value, and each token offers different types of privacy techniques. XMR is a Cryptonote token with a blockchain protocol that was not forked from Bitcoin. XMR uses ring signatures, ring confidential transactions, stealth addresses, bulletproofs, and Dandelion++. The ZEC network can shield transactions by leveraging a zero-knowledge proof called zk-SNARKs.

Decred (DCR) utilizes a Coinjoin mixing scheme called Coinshuffle++ (CSPP) to obfuscate transactions. Nucypher (NU) deploys Proxy Re-Encryption (PRE), a technology that allows the owner of the private key to encrypt data. Similar to NU, the Secret (SCRT) blockchain provides key management techniques, Trusted Execution Environment (TEE) schemes combined with encryption to enhance privacy.
While privacy coins have taken less of a beating this week compared to ETH or BTC, they still have lost quite a bit of value during the last year. Four months ago the privacy crypto coin economy was worth a whole lot more, at $10.7 billion. XMR’s overall market valuation was $4.13 billion and ZEC’s was $1.84 billion on April 28, 2022. Nine months ago on November 6, 2021, the privacy token economy was worth $14.9 billion.

At that time in November 2021, NU was not in the top five, as horizen (ZEN) held the fifth position in terms of privacy coins by market cap. XMR’s overall market valuation was $4.69 billion. ZEC’s market capitalization on November 6, 2021 was slightly higher than the April 28, 2022 record with $1.94 billion. In November 2021, XMR’s and ZEC’s market caps combined were larger than today’s privacy coin economy value.
What do you think about the privacy coin market action in recent times? Let us know what you think about this subject in the comments section below.



























The privacy coins monero and zcash managed to see fewer percentage losses against the U.S. dollar this week, in contrast to crypto assets like bitcoin, ethereum, and solana. Seven-day statistics indicate zcash has lost 5.6% against the USD, while monero dropped by 6.1%. Privacy Coins Manage to St...

news.bitcoin.com

The Top Privacy Coins Saw Fewer Percentage Losses Than Most Tokens This Week


Digital asset manager Grayscale filed applications for Stellar (XLM), Zcash (ZEC), and Horizen (ZEN) trusts in June 2022 and then in mid-August 2022.



The second filing responded to a query by the Securities and Exchange Commission’s Division of Corporate Finance, questioning Grayscale’s analysis of the coins according to existing securities laws.



Other trusts in jeopardy?



The filings cast a dubious light on the new trusts as the bear market puts pressure on Grayscale’s other trusts.



Grayscale’s cryptocurrency trusts provide investors with easy exposure to digital assets alongside stocks and bonds. It holds billions of dollars in BTC and ETH in its Bitcoin and Ethereum trusts, compared to $40 million for the altcoins in question. At the peak of crypto markets, when bitcoin touched $69,000, the company held $60 billion in assets.



In its August filing, the firm acknowledged that the three altcoins might be securities, going back on statements made in the June filing, citing that the altcoins were not securities but could be defined as such in the future and that the SEC had provided no guidance to that effect.



While the altcoins make up a small slice of the company’s crypto holdings, the possibility that they may be securities means that Grayscale could be forced to retire its more prominent trusts.



Grayscale lawsuit against SEC



The query by the SEC highlights the agency’s push to regulate the crypto space, despite there being little consensus in the U.S. whether cryptocurrencies are securities and hence fall under the jurisdiction of the SEC.



Grayscale is locked in a legal tussle with the SEC over the agency’s rejection of Grayscale’s application to convert its Bitcoin Trust to a spot bitcoin exchange-traded fund. The conversion would offer the company a respite from the trust’s shares trading at a discount to the bitcoin price.



In June, the SEC determined that the NYSE Arca platform that would list the ETF was open to market manipulation. In response, the firm’s senior legal strategist Donald B. Verrilli Jr. filed a petition in the United States Court of Appeals for the District of Columbia Circuit to challenge the SEC’s decision.



Grayscale’s lawsuit will likely receive a ruling from the courts in the third quarter of 2023 or early 2024 and could land in the United States Supreme Court.
The post Grayscale Filings Reveal Spat With SEC Over Security Status of Less Popular Altcoins appeared first on BeInCrypto.


Digital asset manager Grayscale filed applications for Stellar (XLM), Zcash (ZEC), and Horizen (ZEN) trusts in June 2022 and then in mid-August 2022.
The post Grayscale Filings Reveal Spat With SEC Over Security Status of Less Popular Altcoins appeared first on BeInCrypto.


Zcash price	$56.06
Low - High 24H	$55.36 - $57.12
Market cap	$720.45M
Volume 24H	$26.12M
All time high	$3,191.93 -98.24% October 29th 2016
All time low	$19.75 183.68% March 13th 2020
Genesis date	N/A

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