Zcash has had a lot of bumps lately, leaving investors confused

Rage Comment : The anonymous cryptocurrency Zcash, which has been hot recently, can not only protect privacy but also keep records permanently, claiming to be able to replace Bitcoin. However, it has recently encountered some bumps due to platform errors, and several zeros will be added to the end of Zcash for no reason, which is very detrimental to privacy and security. Not only that, its price has also dropped by more than 50% in two days, but despite many difficulties, many people still hope that Zcash can do a good job of "anonymous transactions".

Translation: Nicole

Zcash has been sending some confusing signals to investors, leaving crypto enthusiasts at a loss as to what to do.

Following the recent launch of the digital currency, trading volumes on Poloniex have exploded, with Zcash prices reaching around $2 million per coin, a stark contrast to the $1,000 investors put in when they first started.

Matthew Green, an assistant professor at Johns Hopkins University who has been working on Zcash for three years, explained some of the motivations behind the cryptocurrency’s creation:

“The story is that we are losing our privacy, and cryptocurrencies can give us back some of the privacy that has been taken away by computers, and this technology can give us some resistance.”

Matthew Green

Zcash claims to provide the privacy that most cryptocurrency traders want, something that Bitcoin cannot offer. Green also said:

“You’re bypassing the bitcoin blockchain and leaving a record that lasts forever. The idea with Zcash is that you don’t have to figure out how to get privacy — it’s built into the system.”

The launch of Zcash alone was enough to cause a stir, with exchanges from Kraken to Bitfinex adding the currency to their platforms, though some analysts have attributed the currency’s recent bumps to a platform error that could have added a few zeros to the end of the currency’s units, which is obviously very bad for privacy. If such a program error can happen at any time, can security still be guaranteed?

Furthermore, in recent reports, the price of Zcash is falling, reportedly dropping by more than 50% in the past two days. While there have been many rumors following the launch of Zcash, many people are hoping that Monero will do the job of “anonymous transactions” well.