Things have turned good for Zcash (ZEC), the market is in support of the crypto and there is some good news for the privacy coin users. Everyone knows that privacy is key aspect of Zcash and they are always working on it to make ZEC an ideal crypto network.
In a recent news update, Zcash announced that it has partnered with KZen Networks to enable the Multisig. This feature is the one which provides an extra privacy to a crypto network. The support of the multisignature transactions will enhance the security level of Zcash and will expand the types of users who can safely take benefit of the ZEC’s robust privacy.
KZen Network provides users with a non-custodial digital currency wallet. The collaboration with Zcash (ZEC) is meant to manage a research project which will be funded by the Zcash Foundation. The main focus of this project is to impart a cryptographic library to assist the threshold key generation and signing in Sapling. This will ultimately improve all the Zcash properties that are supported in a wallet for the privacy coin.
The collaboration with the KZen Network will allow an n-of-n multisig transactions which would use the Sapling ZEC, without requiring a consensus change. The work with KZen will step up the flexibility and security in storing the ZEC privately, which would improve the user experience. The users would not have to resort for less private digital asset and transparent addresses for their multisig needs.
The multisig technology provides some instant advantages. This feature almost finishes single points of failure because the keys for an address are created and stored on a completely separate device.
This upgrade can really help the market performance of Zcash (ZEC) get better. Moreover, in this month’s update of the ZEC network, some of the issues have been fixed, which include successful remediation of counterfeiting vulnerability, applications are open for Zcon1, and the shielded addresses GDPR compliant has been set by default.
All these recent progress have boosted up the market performance of Zcash and this has led it to move up in the last 24 hours. At the time of press, Zcash (ZEC) was trading with a price of $53.37 USD and it was surging up at a rate of 5%. The market cap of ZEC was around $313 million with a trading volume of $226 million. All this puts the Zcash HODlers in a very good place. They would be pretty relaxed for the way things have turned out for the privacy coin.