Zcash, the zero knowledge privacy-based cryptocurrency has launched and everything seems to be going according to plan. Zcash has been the most awaited cryptocurrency of the year, with miners from all over the world tuning in to mine the anonymous coin, which is seeing an overwhelming support from both the community and from blockchain based services like Jaxx, the multi-cryptocurrency wallet that decided to add Zcash before the launch. Poloniex also announced that it was adding a market for the coin on the day of the launch. A desktop wallet for Zcash has also been released, which makes everything easier. Learn how to install and use this wallet.
Furthermore, several submissions for the open source miner challange have been made, including a multiple GPU miners. Among them, a submission that can be turned into a complete miner with “ease”. Having a open source GPU miner became a top priority for the miner community, that saw the threat of an overwhelming centralization in GPU mining, with big mining operations like Genesis Mining having access to private GPU miners, while the community would fall behind with CPU-only mining.
In order to provide a fair launch and to avoid issues related to “instamines” such as faster blocktimes, Zcash launched with a slow mining period, in which the block reward will be smaller than normal and will slowly increase to reach the normal issuance rate, which is the same as Bitcoin.
A founder’s reward will be applied to the Zcash mining as well, where 20% of the block reward will be allocated to the ZCash “founder reward” during the first 4 years of mining, which will amount to 10% of the total supply.
It’s unclear how the market will react to the privacy-driven cryptocurrency, but futures trading on Bitmex currently estimates the price at 0.5 btc per Zcash, a staggering price for a cryptocurrency that is not even out yet.
Click here to keep track of the Zcash price and marketcap.
Click here and here to learn more about its inner workings.
