In the minds of all investors in the crypto world there are a series of cryptocurrencies, which are considered safe bets, as is the case with Bitcoin and Ethereum. However, every so often a virtual currency appears that due to its technical characteristics, becomes a great purchase opportunity. And just that seems to be happening right now, so we wonder if it is time to buy Zcash.
The Zcash Path
Since its birth, Zcash has been one of the world’s most controversial cryptocurrencies. And, it is born in 2016 as the main competition of the virtual currency focused on privacy, Monero. Therefore, it was a reaction from a sector of the crypto community that considered that the security characteristics of the crypto asset were not good enough for the needs of the modern world.
Thus, Zcash quickly became a benchmark for privacy within the crypto world. Creating new mechanisms for protecting the identity of those who use the platform, which makes it practically impossible to locate those who use the currency. What has not prevented that from the beginning there have been multiple problems in it.
One of the most serious is the so-called “founders’ fund”. Well, 20% of the total of the 21 million Zcash that will ever exist belong to the founders of the project. Who receive a percentage of all Zcash mined by community members.
But this financing is not eternal. In fact, with the Halving scheduled for October this year, the end of the flow of money for the “Founders Fund” will come. And therefore, one of the guarantees that exists for the constant development of new elements within the Zcash Blockchain will end. This has led to a governance crisis within the chain to decide what will be done from now on to guarantee those funds.
A moment to buy Zcash
But contrary to what might be thought due to this governance crisis, a series of factors have allowed not only the cryptocurrency to remain standing. Rather, after 3 years of price stagnation, Zcash is experiencing a rally that has led many to think that it is time to buy the cryptocurrency.
And it is that, as Qiao Wang commented through his account of Twitter. Zcash has elements such as increased awareness of the importance of privacy worldwide, the emergence of new clients protected by Zcash’s privacy, the proximity of the next Halving that will decrease the rewards of mining, the return of socialism to the public arena, and of course the apparent near end of the governance crisis, which make Zcash a good option to buy.
This can be clearly seen in the course that the price of the cryptocurrency has followed in the last hours. Going from the 65 dollars it was trading just a few days ago to the 88.43 it is at the time of writing this article.
The renewed interest in buying Zcash should come as no surprise. Especially due to the controversy that has surrounded the TikTok application in recent days. Bringing privacy issues to the fore in the digital age, and making users more aware of the need to protect their data as much as possible. Precisely what Zcash offers, boosting its price, in what appears to be the start of a major bullish rally.