Huobi Pro launches Zcash

Huobi Pro, one of the leading global digital asset exchanges, announced adding support for Zcash
06 December 2017   1906

On December 6, Huobi Pro, a digital asset exchange for cryptocurrency traders and investors made an announcement that it is going to list Zcash (ZEC), a permissionless cryptocurrency which aims at full-protection of the privacy of transactions using zero-knowledge cryptography.

Huobi pro announcement towards listing zcashHuobi Pro announcement towards listing Zcash

As it was stated in the announcement, the deposits and withdrawals would be available from 14:00, December 6, 2017, whether ZEC/BTC and ZEC/USDT trading will be available from 14:00, December 7, 2017.

At the moment of press, Zcash is being actively traded at such exchanges as:

  • Bithumb
  • HitBTC
  • Bitfinex
  • Bittrex
  • Poloniex
  • Binance

Zcash exchanges and markets December 2017Zcash Exchanges list

The news about Huobi Pro launching Zcash were followed by a price rise of a coin, which rose almost 8% within past 24 hours from the price of $321 on December 5 to $372 on December 6. Moreover, on December 6 at 6:34 UTC the market capitalisation of the Zcash exceeded $1 billion for the first time.

Zcash charts december 2017Zcash Charts

At the moment of press, these are main market parameters of Zcash:

  • Average price: $344.72
  • Marketcap: $956 657 413
  • 24h volume: $195 029 000

Previously, we reported that Huobi pro launched Ethereum Classic, Bitcoin Cash, OmiseGo and Monaco tokens, and also that Zcash was listed on Binance and Bithumb.

Zcash Team to Report on Crititcal Vulnerability Fix

Vulnerability was found back almost a year ago, it was kept in secret to minimize risks
06 February 2019   187

Zcash Company, behind the development of Zcash cryptocurrency, revealed the details of the vulnerability that allowed attackers to create an unlimited number of non-existent ZEC coins.

According to a company blog report, March 1, 2018, Zcash cryptographer Ariel Gabizon discovered a vulnerability in the zk-SNARKS protocol, which Zcash uses to hide balances and user data.

Cryptocurrency developers decided not to disclose the details of the problem by including a patch in the update of the Zcash Sapling protocol, which was activated in late October. And only now the project team has publicly disclosed the circumstances of the incident.

The vulnerability was specific to counterfeiting and did not affect user privacy in any way. Prior to its remediation, an attacker could have created fake Zcash without being detected. The counterfeiting vulnerability has been fully remediated in Zcash and no action is required by Zcash users.

Zcash Team

Also, developers note that the detection of vulnerability required an advanced level of technical and cryptographic knowledge that few possess.

After the discovery of the vulnerability, Zcash Company took "exceptional measures" to minimize the possibility of its operation, and also notified other cryptocurrency teams using the zk-SNARKS protocol, including Horizen and Komodo, about its existence.