Zcash Boasts Growing Number Of Shielded Transactions
The issuer of Zcash, the privacy-oriented cryptocurrency, is looking to create a shielded ecosystem, according to the official blog.
The company explains this decision by the fact that all users will switch to the anonymous accounts sooner or later. Even now more and more services and mining pools are starting to use protected Zcash addresses.
The company is confident that the growing popularity of non-transparent addresses is connected with the release of the Sapling update earlier in 2018. It significantly reduces transaction time — by 90% — and improves network performance.
Immediately after the upgrade, platform users got an access to Sapling secure addresses, which hide transaction details from public view, unlike Bitcoin and other networks.
However, Blockspur statistics shows that most operations with Zcash were transparent over the past 30 days, and the number of secure transactions has barely increased. Also, during this period, an average of about 3000 public, but only 400 anonymous transactions with Zcash were conducted per day.
Moreover, according to Bitinfocharts, the Sapling update didn’t really improve the network that much. Now Zcash lags behind many other cryptocurrencies by transaction count — for example, 20,000 transactions are performed with Litecoin daily.
Nevertheless, Zcash is 19th by capitalization and remains in the green zone with a price of $55.7 in the CoinMarketCap rating.
As previously reported, the number of unique Ethereum addresses broke the record.