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Zcash News

Zcash’s New Upgrade Will Make Crypto Privacy More Accessible

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Zcash’s new upgrade has been at the forefront of the entire crypto industry for quite some time now. By market cap, the altcoin is the 23rd largest public digital asset and compared to other digital assets, Zcash has a large community and user base. More about this update we read in our latest cryptocurrency news below.

Zcash in its nature was not enough for the founders so the company backing up the asset-The Electric Coin Company proposed Zcash’s new upgrade. During the ZCon1 In Croatia, the developers announced that they are looking to build a better blockchain for Zcash which could be used by more than 10 billion people.  For quite some time now, Monero and Zcash are known to be the forerunners in the cryptosystem because of their privacy features. While Monero became extremely popular with low transaction times and immense fungibility, Zcash has not so the blockchain cannot enable private transactions by default yet.

As noted by Decrypt, however, the Electric Coin Company will change how Zcash works and will make the crypto anonymous, easier to use and increase its accessibility to a global population. The company will build a brand new blockchain and will throw away the current chain since 2016. The company also pointed out that it will involve sharding in the chain. Sharding became a leading scaling solution mainly for the Ethereum developers who intend to implement Proof of Stake and sharding in the next two years. The mechanism splits information in a database into different servers and this is why cryptocurrencies could allow for different groups of nodes in one blockchain to process different requests.

As noted in the coming altcoin news this Zcash’s new update will be entirely separate from the current Zcash chain. When the new digital assets get activated, there will be no need for much effort to ensure that the users are doing the right thing. However, it is unclear how this new system will work. The upgrade aims to revolutionize Zcash’s place in private finances. Currently, less than 2 percent of all transactions are with the help of the on-chain privacy mechanism since shielded transactions can be more expensive.

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Bitcoin Cash News

Beam, BCH And Zcash (ZEC) Will All Halve Next Year

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There has been a lot of fuss in the latest cryptocurrencies news regarding Bitcoin's halving which is set to occur in May this year. The effect that this will have on the price of BTC is even more alarming as the mining rewards are going to be slashed. However, Bitcoin is not the only coin which is gearing up for a major reduction in the emission rate next year - it appears that Beam, BCH and Zcash (ZEC) will all undergo similar events in 2020.As we can see, halvenings are happening all around the market. Miners will see their rewards halved next year and the issuance rate for several leading Proof of Work networks will be slashed. Bitcoin is likely to occur in mid-May while the Bitcoin Cash news today show that BCH will occur about a month before that. When both of the chains undergo their scheduled four-year halving, the mining reward will drop from 12.5 to 6.25 Bitcoins per block.Beam, BCH and Zcash's ZEC have not all been in the focus of the halvening talk. We only knew about BCH and BTC a while ago, but now this is changing. The main goal that halving achieves is the reduction of mining rewards which is historically associated with an increase in price, as the selling pressure for miners diminishes. This is why the halvenings are happening.Details from analysts show that Bitcoin's halving alone will see $12 million less coins released into the wild each day based on the current prices. Before this event occurs, however, a newer PoW coin will undergo a halving of its own.We are talking about the Beam team - on January 4th Beam will experience a halving which will slash the block reward from 100 to 50 coins. Beam has so far had one halving occurring on January 4 and the next event won't be due for another four years. The total supply, on the other hand, is set to reach 262,800,000.Beam, BCH and Zcash (ZEC) will all undergo halvings. For Zcash's ZEC, this will be the first halving - now scheduled to occur towards the end of the year. Like most PoW coins, ZEC's release schedule is based on Bitcoin's. The release rate for the coin is expected to drop from 50 to 25 ZEC per block.
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Analysis

Zcash Price Falls To Lowest Levels Since March: Analysis

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ZCash price falls to its lowest levels of trade since march this year, succeeding the newest fall in the bigger crypto market that was started with the news from the central bank of China as we read earlier in the Zcash news.Since the beginning of November, the price of the ZEC/USD pair has fallen more than 30%, which is lower form the highest price in 2019. There are some suggestions from technical analysts that there is a high possibility of starting a bullish trend of reversal by Zcash, whilst trading above the $17.00 level.Inverted head and shoulders patterns can start to form, shows the four-hour time frame if traders can make a rally toward the $40.00 level. It is possible that the price floor has been founded at the beginning of this week near $25, which is even more supplemented by a bullish reversal candle evident from the daily charts. A huge quantity of bullish MACD price divergence emerged during the summer decline, as the daily chart proof and the ZCash price falls even lower. The Technical indicators are indicating that a bullish reversal may happen soon, with the Relative Strength Index on the daily charts making its most oversold level on record.The sentiment for Zcash is neutral, according to the newest sentiment data from TheTIE.io, the short-sentiment is neutral at 42.00%, and the long-term sentiment towards the token is neutral at 46.00%. At the levels of $35.00 and $40.00 is where the technical resistance is located, is shown by the four-hour time frame. A large reversal pattern to be created price rally above the aforementioned levels is needed. In the medium-term, the key technical resistance is at the $55.00 and $80.00 levels.Strong medium-term technical support for Zcash is around the $25.00 and $20.00 levels, according to the four-hour time frame. At the level of $17.00 is critical long-term technical support for Zcash. Adding to the losses that Zcash suffered this summer, the crypto suffered an additional heavy decline this week. In order, a large reversal pattern to be formed Zcash must recover beyond the $40.00 level.As previously reported, Upon an agreement that was signed on November 6, the Zcash Foundation will be financially responsible for all of the costs associated with assigning and also protecting the trademark. When the news was announced, the Zcash Foundation mentioned the existing disagreement with the ECC over the future of the trademark.
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Zcash News

Electric Coin Company Donates ZCash Trademark To Zcash Foundation

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Electric Coin Company has officially donated the Zcash trademark to the Zcash foundation after they had created the privacy-focused cryptocurrency in 2016 as we are reading further in the Zcash news today.Upon an agreement that was signed on November 6, the Zcash Foundation will be financially responsible for all of the costs associated with assigning and also protecting the trademark. When the news was announced, the Zcash Foundation mentioned the existing disagreement with the ECC over the future of the trademark. The foundation noted that it returned to negotiations with the Electric Coin Company after failing to reach an agreement in late August 2019 during the forum of the Zcash community.The Electric Coin Company explained that the trademark agreement was very important because it protected the reputation of the company and separated one product from another. The company said that Zcash’s trademark also protects the community from the number of scams and brings legal power to Zcash’s blockchain governance. According to the ECC, the donation will solve two of the most basic problems including further decentralizing the organization and support and honoring the community’s feedback.The Zcash foundation noted that this agreement maintains interoperability with standard legal and business frameworks. Back in October, there was a potential malicious counterfeit version of Zcash Foudnaiton’s wallet ZecWallet. This agreement with the Electric coin company and the Zcash foundation demonstrates its commitment to preventing such cases.Before the companies agreed on the trademark issue, sources with the knowledge of the trademark negotiations told the media that the talks were actually a lot more complicated than either party originally expected. This was especially the case with regards to the mutual ability to veto the trademark usage.And while the branding issue seems trivial to many observers, this process took months and actually became a bellwether of the privacy coin and its decentralized aspirations. As ECC announced this Thursday, this is “a novel agreement for which there appears to be no precedent.”Also, the Zcash price relaxes and ZEC continues to be under the bear radar. This is a situation that we have been seeing since July. The price of this cryptocurrency was mostly in the lower range, suggesting that there is not much hope for the coin in the short-term outlook.
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Zcash News

Zcash Trademark Negotiations Were Quite Painful: Analyst

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The Electric Coin Company (ECC), known as the firm led by the Zcash creator Zooko Wilcox, has been hosting the Zcash trademark event with the Zcash Foundation (ZF) participating as well as other industry figures this Wednesday.Even though many expected the talks to be smooth, sources with the knowledge of the trademark negotiations told the media that the talks were actually a lot more complicated than either party originally expected. This was especially the case with the regards to the mutual ability to veto the trademark usage.And while the branding issue seems trivial to many observers, this process took months and actually became a bellwether of the privacy coin and its decentralized aspirations. As ECC announced this Thursday, this is "a novel agreement for which there appears to be no precedent."The organization spoke about the Zcash trademark event and highlighted one provision in particular, which states:
“No party has independent authority to declare that a specific chain of Zcash can actually be called Zcash. There must be agreement from both parties, and neither party can unilaterally override the will of the community.”
Wilcox is in the Zcash news today for telling the media last week that the Zcash trademark negotiations were emotionally painful for him. As he described, they were compared to "watching a baby bird leave its nest."
“As a person, I am devoted to zcash and can never stop working for zcash and all that it means for humanity,” he said. “As the ECC, of course, we can only work for the community if they hire us to do so.”
Ever since the ECC startup started the launch of the Zcash (ZEC) privacy coin in 2016, Wilcox has been the de facto public face of the cryptocurrency. That is why he believes that the trademark agreement is a sign of the project and how it is "rapidly moving to a status" where he does not have the power to "make something happen or stop it from happening."All in all, Wilcox is a wealthy man who benefied from the Zcash founders' reward which delegates a portion of the newly mined coins to the founding team. However, he said that he is all-in with the money he earned.
“I’ve pledged half of all the money I expect to see in the world to fund the foundation,” Wilcox said and agreed that it requires a great deal of risk and faith in the community for a project like Zcash to succeed.
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