The introduction of cryptocurrencies almost a decade ago was the beginning of a whole new era of the financial revolution. Bitcoin (BTC), for instance, was sold as a decentralized digital asset for payments that was not owned or controlled by any central authority. However, as the cryptocurrency/blockchain industry grew, it became apparent that coins like Bitcoin are not that private. The birth of anonymous digital assets was nothing but a phenomenon. The thought of untraceable transactions amazed most people in the industry. Zcash and other privacy-focused coins like Monero (XMR) and Verge (XVG) continue to set the bar high among other digital assets.
Zcash became the first open and permissionless virtual asset that was designed to holistically shield transactions from public scrutiny by utilizing zero-knowledge cryptography. Private coins like Zcash do no expose the details of transactions on the blockchain. The sender, recipient as well as the value of the transaction are hidden cryptographically. This has raised many questions especially with governments who believe that anonymity attracts criminals and illegal activities such as money laundering. However, these coins do not exist for this purpose; they allow people to have complete control over their funds.
The future of decentralized privacy coins is guaranteed by mass adoption. Adoption, on the other hand, begins with the asset being readily available, easy to convert into fiat currencies and constant innovation. Zcash (ZEC) has been on the right path especially when it comes to developments and upgrades. However, the support on Bittrex exchange takes this crypto to a whole new level. The exchange is excited to announce the listing of US dollar (USD) market for both Zcash (ZEC) and Cardano (ADA) on August 5.
Bittrex has been expanding its portfolio for USD markets. The US dollar trading is open to all eligible personal and corporate accounts on the exchange platform. The crypto-to-fiat trading is, however, not open to customers operating outside the United States or in California, New Mexico, Arizona, Montana and Washing State.
In other news, Zcash has been honored to be among the few coins that will be initially listed on the soon to opened NASDAQ cryptocurrency platform. NASDAQ is one of the largest Foreign exchanges in the world but it has been exploring the crypto market for some time now. Unclear regulations have been a big concern for the exchange but sources have confirmed that the exchange will be launching a crypto project in 2019. NASDAQ in collaboration with Gemini (of Winklevoss twins) has gathered data through research and is now comfortable with the intentions of listing coins with larger market caps.
According to the ICO Journal, NASDAQ is likely to borrow a lot from Gemini. This will include the assets to be listed on the exchange and even the back end tech on Gemini. The situation and parameters surrounding the collaboration might not be public knowledge. ICO Journal’s source from NASDAQ also said:
“And the next to get listed, or to join Bitcoin, Ethereum, and Zcash at launch would be Litecoin. That is the talk that I have heard and would be the bet that I would make if you forced me too.”
Zcash is trading at $157 at the time of writing. It is up a subtle 1.57% in the last 24 hours. Zcash (ZEC) is a 746 million coin and is ranked 20th in the market. It has a trading volume of $120 million and a circulating supply of 4,728,519 ZEC tokens.