December 19, 2017 Edward Snowden wrote on twitter that 3 months ago, when he mentioned in his message to the ZCash crypto currency, it cost $ 195, and that day reached $ 600. He also asked not to perceive his tweets as investment advice, since he is not an expert in this field, and he is only interested in the technical side of the issue. One of the participants in the discussion noted that in relation to bitcoin, ZCash sank during this period, and that this indicates negative dynamics. Let’s try to figure out what all the same can affect the course of ZEC in 2018.
Connection with Snowden
ZCash is a crypto currency with an emphasis on the security of personal data, implemented through complex cryptographic techniques. It should be noted that this platform uses the ZeroCoin protocol, which is performed using the zero knowledge proof method, called zk-SNARKS.
The ZCash development team held meetings with several law enforcement officials. They explained to them the mechanism of functioning of the technology and stated that they were creating a crypto currency without the intention to facilitate illegal financial activity.
In prison, of course, there are ill-wishers. For example, Peter Todd, Consultant in Applied Cryptography. He says that using the Rust compiler allows attackers to easily crack the ZCash and advises paying attention to the zero knowledge proof method used, and not altcoyin itself.
In addition, some analysts are of the opinion that Snowden is used in the marketing policy of ZCash, and the crypto currency itself is weak in the field of confidentiality. Snowund’s comments are alarming given that ZCash is run by a private company. Why did he make a repost of the research, discrediting Monero, ignoring the article exposing ZCash in an unfavorable light? The opinion of such a person can still influence the formation of public opinion to the crypto currency, in our case, a positive one.
In another tweet Snowden reported that he agrees with the opinion of the creator of the etherium Vitalik Buterin that zk-SNARKS is strongly underestimated, and in an interview with Fortune magazine called evidence with zero disclosure of technology that changes the rules of the game.
The future of ZCash
To date, more and more people are making fortunes on the blocking assets. They will need safe places to store funds that can not be tracked. Competitors of ZCash in this area also offer various solutions to the problem of anonymity.
It is possible that ZCash will become one of the reserve currencies for all those who require confidentiality of transactions. The team behind this crypto currency is planning to submit a number of updates next year. The name Overwinter is mentioned, as well as Sapling. The purpose of the updates will be to improve the performance, security and ease of use of ZCash.
The first update under the name Overwinter is scheduled for July 2018. The main direction is the security of the network and subsequent updates. The appearance of the second is scheduled for September 2018, and is based on the Sapling protocol, aimed at strengthening the privacy of transactions.
In addition to these, other updates are planned to expand scalability and add functionality to smart contracts.
Is the $ 2,000 mark reached in 2018
A large number of crypto-currencies soared to unthinkable heights along with the enthusiasm of investors. Given the established primacy of bulls in the current period, you can identify assets with very convincing price schedules. One of them is ZEC. Technical analysis is used to determine the entry point in the presence of fundamental factors that confirm the asset’s exit from equilibrium. For crypto currency it is difficult to determine which factors are fundamental, some say they are not available for this market.
Analysis of the price chart ZCash shows the following picture: for today the currency is traded at around $ 540. In January of this year, the level kept at an altitude of $ 40-50, in February it was even lower. Also note the peak of $ 2,600 immediately after the ICO in October 2016.
The important figures for the forecast are capitalization – $ 1.66 billion for today (20th place), and trading volume – $ 154 million (according to this indicator, ZEC is well ahead of its competitors – Ardor, Populous, BitConnect, OmiseGO). Without going into details, we can say that at the moment the technical picture suggests further growth, according to some estimates – up to $ 2,000.
For supporters of crypto-currencies like bitcoin, but wanting more privacy, ZCash is a great alternative. It gives the same opportunities and additional anonymity. Functionality is not sacrificed for the sake of it. Based on the totality of the data available to date, it can be assumed that ZCash expects to expand its scope and bright future, possibly as early as 2018.