Related Reading | Monero And Zcash Take Off With 15% Gains, Here’s What May Have Spurred The Rally
ZEC’s price has returned to move back in tandem with the rest of the crypto market. At the time of writing, ZEC trades north of $160 with a 2.3% loss in the past 24 hours.Still under exploration from U.S. entities, if the country decides to move forward with a CBDC, citizens could be subjected to more scrutiny, and the state could gain more control. Under this scenario, Zcash and Monero could become critical assets for privacy-seeking individuals.
Halo enables enhanced scalability and privacy by changing the underlying cryptographic primitives that power the system. End-users can easily verify large amounts of data by confirming a proof of proofs, like zero-knowledge inception.
Zcash Moves To Upgrade Network, The Ace In The Hole
Furthermore, said Markewicz, the network won’t require users to destroy data that could be used by bad actors. This is one of the steps to mint new ZEC, the analyst said. Along with the upgrade, the developers in charge of maintaining ZEC are expected to, Markewicz said, shift to a “more product-centric focus. Thus, they will create more tools and resources to ease development on this network and will improve the user experience. Perhaps the most bullish factor for Zcash and the price of ZEC it’s the potential migration to a Proof-of-Stake consensus and the implementation of components of the Cosmos infrastructure. The analyst speculates about the introduction of IBC, a protocol that allows communication between the different networks using it.Related Reading | Monero And Zcash Take Off With 15% Gains, Here’s What May Have Spurred The Rally
This could mean the potential implementation of assets with Zcash’s privacy capabilities running on Terra, and other chains running on the Cosmos infrastructure. A new use case implies new users, and more adoption leading to possible new prices.There are even rumblings of migrating to Proof of Stake by implementing components of the Cosmos stack. IBC? Interchain shielded assets? The multichain design space is still largely unexplored, but an IBC-compatible Zcash running on PoS would open up a world of new use cases. — Matt (@m_mark_0)