Zcash, a new cryptocurrency was introduced yesterday on the digital currency market.
The newest addition promises to get a lot of attention of internet business investors, creating a hype in some financial sectors while being completely anonymous.
Zcash also promises complex cryptography to safe the privacy of its investors. It does not only protect buyers', traders' and sellers' privacy but also the sensitive information of the transactions, the blockchain which is a form of ledger for digital currency to move.
The protection of the so called blockchains is what users see as the main advantage over Zcash's competitors like the heavyweights Bitcoin or Ethereum.
Market strategist Arthur Hayes believes that the price of 1 ZEC will beat the price of 1 Bitcoin before the end of the year and commented:
“No one wants to miss the next bitcoin or ether. Everyone is trying to get their hands on ZEC.”
In terms of increase in value there can be seen parallels to bitcoin. When Zcash got introduced to initial crowdsale, the price of 1 ethereum token went quickly from it's $0.30 to $11.93 (stand of Friday), which means a 4,000 pct rise, bitcoin started at $0 and reached its high with $685.