Is ZCash The Best Bitcoin Fork?
ZCash is a very well recognized fork of BTC, essentially a split in its source code, exactly like LTC. It was designed as a solution to tackling any complications with user privacy involving Bitcoin and to diminish centralization with its PoW platform based on Equihash. According to charts, ZEC has performed relatively well during the beginning of 2017 and maintained a consistent performance at holding onto its profit so far, setting its all-time high at $1K during January of this year.
Since then, the cryptocurrency has made a massive correction resulting in a plummet in price down to $165 in value. As of now, ZEC is holding at a robust support level. MACD has displayed potential for a strong bull run recently. The VPCI has displayed that its price has bottomed and may possibly surge within the coming weeks. Alternative coins are currently set for a possible breakout and ZEC may highly profit for an alternative coin rally and may trump over any expectations by investors at this point.
After the creation of Bitcoin, its main issues included centralization, double spending, transparency and asset management. The first and leading cryptocurrency provided one solution to solve all those problems. Despite this, BTC’s persistent issue was its transparency and the numerous related complications it posed for users and investors hoping for anonymity in their transactions and is the resulting reason in millions of offshore accounts in crypto-friendly countries.
Transactions, in general, are incredibly expensive and procedures only add to the difficulty in transferring funds whenever required. One published thesis indicates that in only 10 percent of the GOW was taken by ZEC, the coin would skyrocket massively to $62000. Should the percentage consist of only one percent, it would bring the coin to around $6289. The cryptocurrency has held its own against the USD and BTC as displayed by charts and has achieved its bottom on its way to the declining resistance.
Following the listing of LTC, ETC, and BTC on Coinbase, ZCash is only expected to be listed next by the cryptocurrency exchange and will continue performing well as more offshore accounts shift.