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Zcash relies on Proof of Stake - Enough for price growth?



Zcash is one of the few "privacy coins" on the market that has what it takes to carry out transactions in a confidential setting. Edward Snowden recently confirmed this via Twitter. Since Zcash offers confidentiality, but Monero is considered the top solution if you do not want to disclose transaction data, the crypto currency eked an inconspicuous existence for a long time.

But things are slowly moving as the ECC has announced that it will convert Zcash over the next few years. They want to move away from Proof of Work and thus from mining to Proof of Stake, which has become increasingly fashionable in the last two years. In addition, they want to bring their own wallet onto the market in the coming year, which should make a lot of things easier for users.

Last but not least, you want to improve communication and public relations, which is urgently needed, because in more and more countries there is more or less justified skepticism about crypto currencies that cannot be easily monitored. In addition, interoperability should also play a role for Zcash in the future.

Zcash has a poor course performance

It's hard to believe, but history clearly shows it. Zcash has a miserable performance compared to Bitcoin. Because in 2016, according to the Coingecko platform, 1 ZEC was sold for a little more than 4 Bitcoin. Whoever made this deal and held Zcash for many years is likely to be a little bit bitter when calculating the opportunity cost.

But even investors who have not been invested that long have little reason to be happy. Because Zcash did not manage to match its high from 2018 this year despite the bull market. A subterranean performance if you compare the strong growth figures of the rest of the market and the associated price gains.

Currently, Zcash has been able to gain again, but is quoted at 208 US dollars, well below the high of May 2021. So it remains to be seen whether Zcash is a flop or one of the longest phases of accumulation on the crypto market.

Should the cops actually take over, then the area between $ 375 and $ 400 should be given special attention. Because there has been resistance here over the past 4 years, which could only be overcome in 2018. A breakout above this range would at least be a glimmer of hope.

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