Bithumb adds Zcash

One of the largest exchanges in the world, Bithumb, has added Zcash
05 October 2017   2016

Bithumb, one of the largest exchanges in the world based in South Korea, has listed Zcash cryptocurrency. It is noteworthy, that Bithumb’s addition of Zcash comes a day after CEX.io, another cryptocurrency exchange based in England, added support for the cryptocurrency.

Zcash differs from other cryptocurrencies in its use of “zero knowledge proofs,” a cutting edge cryptography concept that uses nifty mathematical functions to conceal certain information related to transactions, like the identity of the payer and payee as well as the amount paid. The technology is still very new and, therefore, still undergoing testing.

Thus, Bithumb lists nine different cryptocurrencies for people to trade: Bitcoin, Ethereum, Ethereum Classic, Dash, Litecoin, Bitcoin Cash, Monero, and Zcash. David Lim, global business development manager at Bithumb, notes that "the number transactions related to Monero, which Bithumb listed in August, and Zcash are growing rapidly".

Bithumb will continuously introduce competitive coins in Korean market by studying their technology and considering the cryptocurrency market status.
 

David Lim
Global business development manager, Bithumb

Consequently, with the rumours about Zcash being added to Bithumb’s listings, there was a massive spike in price for the cryptocurrency. The market value for Zcash shot up more than 70% to nearly $400 per Zcash token, though the price has since fallen back down to around $240.

Zcash price chart on coinmarketcap.com
Zcash price chart on coinmarketcap.com

Still, at the time of writing, Zcash price is about $238.91, it's market capitalization is $556,046,291.

1st Alternative Zcash Client to be Created by Parity

The responsibility for the continued development and support of the new client called Zebra will be with the Zcash Foundation
18 June 2019   510

The leading developer of solutions for the Ethereum ecosystem, Parity Technologies, presented the first alternative client for cryptocurrency Zcash.

A new client called Zebra is designed to improve the security of the Zcash network. So, if the original Zcashd client will not be able to operate for some reason, the blockchain will be supported by nodes on Zebra.

In addition, with the help of an alternative client, developers will be able to identify bugs and eliminate defects in consensus.

The community wins across the board, as there are now more core developers working on clients, with more interests represented and clients taking different approaches on how to build apps on top. Zcash can now boast a more diversified community that can effectively tailor experiences for Layer 2 developers as well as end-users.
 

Fredrik Harryson
CTO, Parity Technologies

The responsibility for the continued development and support of the Zebra will be with the Zcash Foundation.