As cryptocurrency prices have slumped across the board in recent weeks, Zcash has gone on a tear. Anyone paying attention will have noticed the huge uptick that occurred around the May 14 listing of ZEC on the Gemini exchange.
But there’s quite a bit more going on here for this cryptocurrency that enables private transactions through the use of a zero-knowledge proof called zk-SNARKs.
Zcash, often talked about as the “true” privacy coin, is currently sitting at #23 on Coinmarketcap and can be considered a serious contender for a top 10 push. In the following, we’ll provide a brief rundown and recap of all the biggest Zcash news in May 2018.Gemini Listing
In May, Zcash became the first privacy coin to earn itself a fiat trading pair on a mainstream American exchange. Following in the footsteps of its sibling Bitcoin, ZEC is just the third currency to trade on Gemini (plans are in place for Litecoin and Bitcoin Cash to join as well).
Gemini is regulated by the New York State Department of Financial Services (NYSDFS), making it one of the most heavily scrutinized exchanges in the world. Opinion was immediately split over whether this constituted good news, with some Redditors voicing fears that being beholden to regulators so early in the game could compromise Zcash. Others hailed it as a huge step forward in terms of keeping anonymous coins in the good graces of regulators.
Regardless of which side of the fence you fall on, it is good to see some action from a coin that has, at times, felt slightly stagnant. Some investors will also feel a degree of vindication, as $100 was added to the pricetag virtually overnight.
With the news, Tyler Winklevoss, CEO of Gemini, had some very complimentary things to say. To paraphrase: Zcash picks up where Bitcoin left off – Bitcoin has many strengths, but privacy is not one of them, and Gemini is proud to be the first licensed exchange in the world to offer Zcash tradi...