Zcash (ZEC) is one of the most digital currency in the crypto space, and it is hard forked from Bitcoin (BTC). The digital currency is developed to address privacy issues encountered by Bitcoin (BTC) users. It is also created to curtail centralization with its Equihash-based Proof-of-Work model.
Why Zcash (ZEC) Could Outperform Other Bitcoin (BTC) Forks
When Bitcoin came onboard, the major issues then was centralization, transparency, inflation, excess transaction fees, and control over digital currencies in possession. All those issues were handled by Bitcoin (BTC) with a simple solution. Nevertheless, Bitcoin (BTC)’s transparency aspect became an issue for investors and users that didn’t want to see their transactions as well as the amount of those transactions.
This is similar to the reason why a lot of people all over the world store trillions of dollar in offshore accounts in nations such as Panama, Switzerland, and the Cayman Islands. Grayscale Investments published a thesis which estimates that if 10 percent of Offshore Wealth across the globe is captured by Zcash, it would increase the value of the coin to $62k.
Worst case scenario, if just one percent is captured by Zcash (ZEC) till 2025, the value of the digital currency would get to as high as $6,289. The digital currency has been able to hold its ground not only against the U.S. dollar but also against BTC.
Recently, Coinbase – a popular digital currency trading platform – announced its intention to add Zcash (ZEC) to the list of tradable digital currencies on its platform. As the overall demand for privacy-oriented tokens grows, Zcash will continue to have more use case and its value will also increase.
Zcash (ZEC) Price Today – ZEC / USD
Zcash (ZEC) is presently worth $160 in the market after increasing by more than 2 percent over the past twenty-four hours. The market cap of the digital currency is $732.13 million with a trading volume of $101.93 million over the past twenty-four hours.