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Isn’t it familiar for you to hear about the Bitcoin’s privacy problems? Multiple cryptocurrency critics attacked the whole industry based on these security issues. In spite of the criticism, the cryptocurrency community already provided various solutions specifically for the privacy demanding use-cases. Zcash (ZEC) is an anonymity-first cryptocurrency, and it is it’s most significant advantage.
Zcash was designed to offer exceptional privacy for the cryptocurrency users. Founded by Zooko Wilcox, the coin was fast to become one of the favorites of the cryptography community. Even Edward Snowden himself complimented the coin’s architecture. He specifically praised the professional and scientific approach taken during the coin’s development.
However, despite multiple positive Zcash price predictions, the coin’s financial results weren’t as bright. Zcash price chart shows that the price peak of the currency happened pretty much at the time of its launch.
At the time, it took around 4,290 USD to buy one coin. The current record wasn’t even approached ever since. Does it mean that the coin isn’t worth investing in? Let’s get through the Zcash’s price predictions, history, and technological benefits.
Why is Zcash valuable?
The community highly values Zcash for its unique approach to transaction and address privacy. It helps the coin to be useful for both businesses and individuals. Zcash is different from other cryptos in several ways.
First of all, Zcash offers two types of wallet addresses. A shielded address is a type of account that has advanced privacy of transactions. Zcash protects any deal between shielded addresses from being exposed to third parties. Transaction amount, address and encrypted memo are all hidden.
Transparent addresses are similar to the Bitcoin’s, being openly viewed in the blockchain. However, they are also pseudonymous and do not necessarily reveal the owner’s identity.
Another feature of Zcash are the already mentioned encrypted memos. They are a way to send sensitive information in connection with a payment. The Zcash network fully encrypts and securely delivers the info with no disclosure of anything important. Here you can learn a little about how the coin works with Binance Academy.
The next two features are some of the most important for the positivity of future Zcash price predictions. They are the viewing keys and payment disclosure technologies.
Viewing key is a service that allows shielded transaction’s owners to share the info about incoming them. In this way, any Zcash user can comply with the government and corporate rules to be open for auditing. The address of a sender won’t be disclosed until the info is stored in the encrypted memo field. The payment disclosure feature helps to provide the info about transaction-specific details, also useful for regulatory compliance.
All these features, combined with tradition Zcash’s sophisticated privacy-focused technologies makes it a handy financial tool. Zero-knowledge proofs and multi-signature transactions help to make the coin especially suitable for safe financial operations.
That’s what makes Zcash a truly valuable coin. More information about the coin on BitcoinWiki.org
Zcash Price Analysis
As was previously stated, Zcash’s primary advantage is its strong focus on privacy. This approach makes the coin especially valuable for the cryptocurrency community, that always had a cautious attitude towards information enclosure. However, it is far from the only thing that can positively affect the ZEC price predictions.
Electric Coin Company is the developer of Zcash. The company is public; all the major contributors to the coin are well-known specialists. Unlike the main Zcash’s rival, Monero, Zcash looks much more friendly for the traditional businesses and investors.
It also allows the Zcash team to openly hire the most qualified specialists on the significant development positions. This fact led to Zcash being the third cryptocurrency listed on the Gemini Trading Platform – fully regulated and licensed crypto trading platform. The newly obtained ability to trade Zcash legally and transparently is among the most critical factors that can drive positive ZEC price predictions for 2020 and the following years.
Zcash Price Fluctuations History 2018
ZEC price chart is on a continuous downward trend since the start of the year. The bearish cryptocurrency market significantly damaged the crypto and darkened most of positive ZEC predictions.
Zcash is one of the coins that were most vulnerable to the downtrend of the market. The currency didn’t manage to provide something significant enough to prevent its price fall. However, the whole market is currently in the same situation.
Only the newly developed coins like, for example, the BitTorrent coin have positive market expectations. The current state of Zcash is very close to the same of Bitcoin Cash. Even the Zcash price chart looks very similar to the same of BCH. Both coins didn’t offer anything prominent in the recent year and are experiencing dramatic price drops.
Zcash Future Price Prediction For 2019-2020
If you’ try to build a linear trend line to make your own Zcash price prediction, you’ll get something like that.
The current data indicate that ZEC coin price predictions should allow even for a 1-digit price for the crypto in the nearest future. The most probable low point is around $10 USD per coin. Zcash is a likely beneficiary of the overall market uptrend. However, before the uptrend starts, the coin is not in a good place to start climbing again.
It is unclear, how the coin’s price will behave in the distant future. Its technical advantages and broad appreciation can help it gain a more stable position in 2020. The currency is currently fighting both with competitors, and the market itself and even a little victory can significantly change its financial situation. As of now, Zcash doesn’t look good like either long- or short-term investment. I wouldn’t recommend to HODL the coin until some very bright news came to sight.
Still, there are reasons to have Zcash in your wallet. The coin is still an excellent tool for private transactions and remain demanded among miners due to its ratio of the mining costs and the ZEC exchange rate.
It is very much possible that the current price downfall is nothing but a way for the market to make it closer to its real value. Both business and individuals use the coins for secure transactions, and the coin’s price does not influence it.
Additionally, the coin continues to be very volatile. The sustainable fall of the price is accompanied by a large number of significant price increases. If you are an experienced trader, you should take a look at Zcash as a speculative tool.
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. While price analysis is a useful tool, it should not be considered predictive for the future performance of any investment vehicle.
Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment. Website personnel and the author of this article may have holdings in the above-mentioned cryptocurrencies.
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