On October 28, 2023, the privacy-focused cryptocurrency Zcash (ZEC) community celebrated seven years since its mainnet launch.
In 2016, it was accompanied by high volatility of the coin – at some point the price jumped to 2600 BTC for 1 ZEC, or more than $1.8 million at the exchange rate at that time.
Today the asset is trading at $27, having added 1.8% over the past 24 hours, according to CoinGecko. In the ranking by capitalization, Zcash occupies 149th position with an indicator of $220.3 million.
Binance exchange ZEC/USDT hourly chart. Data: TradingView.
In 2020, the creator of Zcash and the CEO of the Electric Coin Company (ECC) behind its development, Zuko Wilcox, said in an interview with ForkLog 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 community development.
In 2021, the ECC presented the Zcash roadmap to 2025. The team called the plan “aggressive but achievable.” It included three key products: the transition to the Proof-of-Stake consensus algorithm, interoperability and the official ECC wallet.
In 2022, former NSA and US CIA employee Edward Snowden revealed his participation in the launch of Zcash.
Let us remind you that in May 2022, ECC activated Network Upgrade 5 on the cryptocurrency mainnet. The first major network update since November 2020 included the launch of the Orchard secure payment protocol, which uses the Halo verification system.
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2023-10-28 10:52:30
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